Home Insurance when buying house in Scotland

PrettyFlower90

I have read through our mortgage offer several times and can't see anything where it states specifically when it should start, just that we should continually have it.

Our broker in L&C knows we're in Scotland obv but has said multiple times that we need it "at exchange of contracts" which obv covers England, so I'm not sure if going back to them to clarify will give a different answer.

Even on MSE Scotland house buying it talks about having insurance for e.g. house burning down after missives concluded but before entry. Obv bit drastic but just an example.

Thanks for the replies!

PrettyFlower90

jennifernil wrote: »

OP, you should be getting quotes in good time so you can request the policy starts on the date you are getting entry.

Of course, we've been looking​ for weeks, just need to know when to purchase.

davidmcn

PrettyFlower90 wrote: »

Even on MSE Scotland house buying it talks about having insurance for e.g. house burning down after missives concluded but before entry. Obv bit drastic but just an example.

Unnecessary to have insurance prior to settlement because (unlike in England) your contract will give you (or the seller) the right to walk away if something like that happens.

Pixie5740

PrettyFlower90 wrote: »

I have read through our mortgage offer several times and can't see anything where it states specifically when it should start, just that we should continually have it.

Our broker in L&C knows we're in Scotland obv but has said multiple times that we need it "at exchange of contracts" which obv covers England, so I'm not sure if going back to them to clarify will give a different answer.

Even on MSE Scotland house buying it talks about having insurance for e.g. house burning down after missives concluded but before entry. Obv bit drastic but just an example.

Thanks for the replies!

You get what you pay for with L&C. The fact that your mortgage adviser keeps talking about exchanging contracts should be enough to tell you that (s)he doesn't fully understand the buying process in Scotland.

PrettyFlower90

Pixie5740 wrote: »

You get what you pay for with L&C. The fact that your mortgage adviser keeps talking about exchanging contracts should be enough to tell you that (s)he doesn't fully understand the buying process in Scotland.

Apart from this issue, i couldn't fault L&C service actually! Lol They have been the best and least stressful part of this whole process and have been brilliant, and not having to pay for it as well. Obv i did think to myself that they don't fully get the different between missives in Scotland and exchange in England so i do get your point lol Well at least our Solicitor seems to be giving some correct information then regarding the insurance issue!

Thanks!

agrinnall

PrettyFlower90 wrote: »

Our broker in L&C knows we're in Scotland obv but has said multiple times that we need it "at exchange of contracts" which obv covers England, so I'm not sure if going back to them to clarify will give a different answer.

Well, if that's what they say than that's fine, because that is never going to happen so they can't later come back and say you didn't have the insurance in place at the correct time. I'd just ignore them and arrange the insurance as advised by your solicitor.