Searching for new insurance, whilst waiting to buy a house

catmulogen

Hi
We've had an offer accepted on a house, mortgage approved and just awaiting survey results. We need to renew the home insurance on our current house but, on completing a quote with John Lewis (i'm trying to get quotes with companies who don't have cancellation fees), it said that it would show up on our credit file. Is this a problem for us currently, whilst waiting for the sale to complete? I'm aiming to get quotes from a few companies and comparison sites.

Many thanks

LawAbiding

Usually insurances conduct a "Soft Search" which has no impact on your credit report.

Ensure it's only a Soft Search or non-impact search, if not, avoid at all costs....

davidmcn

Presumably it's only an issue if you wanted to pay by instalments? If you're paying the annual premium upfront then I wouldn't expect a need for a credit search.

catmulogen

I'm assuming that means i'd have to pay in full and not via credit card? (I always pay for insurance on CC but pay off in full each month). Thanks again

davidmcn

catmulogen wrote: »

I'm assuming that means i'd have to pay in full and not via credit card? (I always pay for insurance on CC but pay off in full each month). Thanks again

I meant if you're paying the premium as a single payment for the year then there's no credit involved as far as the insurers are concerned, because they're getting the money upfront (either from you or via your card company). If you'd like them to charge you in instalments, that's a credit agreement so they'd want a credit search.

TiberUK

Highly doubt it would be an issue. We had our meeting with the bank on wed (recieved an offer on saturday) and they told us in the meeting to go use the price comparison sites for a good building insurance quote