Remortgage - indemnity policy

Unicorn_cottage

Hi all
I understand I have to pay for an indemnity policy as part of the remortgage process. Is this normal?

"The  cost  of  the  insurance  will  be  paid  by  you  either  as  a  deduction  from  your  remortgage  proceeds  or

through  an  arrangement  with  your  lender  under  the  terms  of  your  mortgage  offer.

The  reason  for arranging such an indemnity policy is that it is a lot quicker and cheaper than obtaining searches."

Thanks

loubel

Yes this is normal. It speeds up the transaction and saves you money. It is assumed that you won't want new searches on your own property.

Unicorn_cottage

Thanks @loubel First time remortgaging for me