House insurance & remortgaging

Dird

Currently (since November) I'm uninsured. Before my initial purchase the bank insisted I include them as a person of interest on the insurance.
When you remortgage to a new provider do they insist you amend the policy and put them as a person of interest on the insurance or they're happy for your old provider to stay on it until renewal?

ACG

Priority should be having insurance, having your lender named on the policy is a side point. Currently you are in breach of your mortgage and that would be enough for them to call in the loan. If your home fell down you would have a £76k loan and a lot of bricks.

Each lender is different, some are not bothered about being named, others will want to see their name on the paperwork before releasing the funds.

foxy-stoat

Dird wrote: »

Currently (since November) I'm uninsured. Before my initial purchase the bank insisted I include them as a person of interest on the insurance.
When you remortgage to a new provider do they insist you amend the policy and put them as a person of interest on the insurance or they're happy for your old provider to stay on it until renewal?

If you are uninsured at the moment then just take out a policy like now without the lenders name on the policy, you can always add them later if needed, my lender didnt even ask to see a policy schedule.