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Buildings Insurance, from exchange or completion?? Got insurance linked to completion date
TXC
Posts: 265 Forumite
Hi all
Hope everybody is well? Got everything in place for hopeful exchange and completion soon, and I've just been reading through the report and it says I need buildings insurance from exchange? This is news to me as I got the buildings insurance linked to my mortgage via HSBC and it will activate upon drawdown of the loan (completion?)
As yet I don't have a date for exchange, is there a method of obtaining temporary buildings insurance from exchange to completion? or is it a matter of calling HSBC and saying i need the cover from exchange not completion
Hope everybody is well? Got everything in place for hopeful exchange and completion soon, and I've just been reading through the report and it says I need buildings insurance from exchange? This is news to me as I got the buildings insurance linked to my mortgage via HSBC and it will activate upon drawdown of the loan (completion?)
As yet I don't have a date for exchange, is there a method of obtaining temporary buildings insurance from exchange to completion? or is it a matter of calling HSBC and saying i need the cover from exchange not completion
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Comments
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Its exchange1
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Thank you
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I only had four days between exchange and completion, so paid for both buildings and contents at the same time. Good luck in your new home.£216 saved 24 October 20140
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SuseOrm said:Its exchangeIt's exchange if your contract is the Standard Conditions of Sale (5th edition – 2018 revision) (PDF 645 KB) (section 5)(and not if you are buying a New Build).
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It is exchange, but I don't cancel mine until after completion just in case unless you are a FTB or are not selling anything0
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It is usually exchange unless there is a long gap between E & C - we had one of 8 weeks (not or choice) and solicitor pointed out that insurance companies wouldn't agree if you were not occupying it for 28 days ... so she got written in the vendors had to insure it until completion0
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