When to get buildings insurance scotland

Iggy15

I am in the process of buying a house in Scotland. The missives are nearly ready for completion. Do I need to get buildings insurance at this point or when it completes? There is still about 8 weeks until completion so not sure how I would get insurance when I won't be able to access the property and the current owners still there?

davidmcn

No need until your date of entry. It's the seller's risk until then, and (usually) either of you can walk away from the contract if the place burns down etc before completion.

Iggy15

Thanks I have seen conflicting information on this. Some say on completion of missives and others on date of entry/completion.

davidmcn

Iggy15 wrote: »

I have seen conflicting information on this. Some say on completion of missives and others on date of entry/completion.

In England & Wales the norm is to do it at exchange of contracts, but if anyone's saying in Scotland you do it at conclusion of missives then they're wrong. Anything which happens before the date of entry is the seller's problem, so no need for you to be insured.

KmgJ

The link below is to a government website. It says you need building insurance beginning from conclusion of missives. I don't know if that is the last word, but it certainly lends enough credence to justify Iggy15's concern. And mine, as I'm in the same situation.
 https://www.mygov.scot/buying-a-home/making-an-offer/

davidmcn

KmgJ said:

The link below is to a government website. It says you need building insurance beginning from conclusion of missives. I don't know if that is the last word, but it certainly lends enough credence to justify Iggy15's concern. And mine, as I'm in the same situation.
 https://www.mygov.scot/buying-a-home/making-an-offer/

For the avoidance of doubt, it's wrong, and I've no idea where the author got that idea (I can't remember ever seeing residential missives where that was the position). Your solicitor will put you right anyway.

This is a link to the Scottish Standard Clauses, which is the most common form of offer for purchases in Scotland. Clause 20 is clear that risk remains with the seller until settlement, and that if there is material damage before then, either party can walk away. No point in the buyer insuring before the date of entry.