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mortgage condition - insurance
jenjen88
Posts: 9 Forumite
I am currently in the process of buying my first house.
One of the conditions on my mortgage is that my buildings insurer sees my valuation report (slight risk of flooding, within 250 of water) and gives me a letter stating they have seen my valuation report.
Has any one else has this issue?
Thanks
One of the conditions on my mortgage is that my buildings insurer sees my valuation report (slight risk of flooding, within 250 of water) and gives me a letter stating they have seen my valuation report.
Has any one else has this issue?
Thanks
0
Comments
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Seems reasonable.
The mortgage lender wants to be 100% certain that the insurance you put in place will be valid eg that if there's a flood, the insurer won't refuse to pay out on the grounds that you knowingly with held flood-risk information from them.0 -
Who is the lender?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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