Nationwide Mortgage Offer - Joint policy holder on Home Insurance???

RichWrexham

I have just recieved my mortgage offer from Nationwide, as part of the offer it states the following,

"Where our security is freehold title, the policy must be in yours and Nationwide's joint names".

I have been with 2 mortgage providers in the last 5 years and did'nt have to do this. Is this standard practice?

dunstonh

That is normal and all home insurance providers allow it. Some insist on it. Some have it in their print but dont make a point of checking.

Miss_Penny_Pincher_2

I'm currently with Nationwide and didn't realise this about the insurance :S Ours is with Norwich Union Direct but I remember they asked for details of the mortgage company so perhaps in that process they automatically linked it to Nationwide? Well it's up for renewal in a couple of months so I could ask specifically?

dunstonh

I remember they asked for details of the mortgage company so perhaps in that process they automatically linked it to Nationwide?

Yes. If the insurance company asks for your lenders name then its noted on the policy. Often you will see it on the policy schedule somewhere either noted as an interested party or even joint names with the lender.

RichWrexham

Thanks for this, gives me peace of mind. Does this affect your Home Insurance premium or don't you even notice? If l am buying my property with my girlfriend, is it advisable for her to be a joint policy holder on my insurance?

NeilQuinn

All names should be on the certificate.....all borrowers & lender.

And no, it doesn't affect your premium.

jane_adams_2

I know this is an old thread, but we have just had this problem. Our insurer (Post Office / Norwich Union) has refused to do it.

Spoken to Nationwide who don't seem to know about this clause, who have said it "should be ok" to leave them as interested party

LiGhTfasT

Sorry to bump a old thread but i too am stuck on this point. The only quote i have done that asks for the mortgage lenders name is Lloyds. But the best quote is with morethan (-quidco).

Now im stuck because i need this in place for exhange of contracts and would hate to hold everything up because of this? If i ring up and order i lose the £70 quidco.

I suppose i can risk ordering online then ringing to add the lenders name?

Anyone any ideas?

Mrs_Bumble

Ring up and ask morethan if you take the policy out online to make use of the £70 it saves you can you later ring up and add the mortgage lender as an interested party and would they charge for this. Make sure that if the answer is in the affirmative that you make a note of the time of the call, who you spoke too and ask which call centre they work from, just in case!