House Insurance - Joint Names with Mortgage Lender

Glamazon

Posted this in the Insurnace section as well because not sure which is the best forum!

I am buying a house and the buildings and contents insurance are £40 per month if I go through my mortgage lender.
However, I can get it £20 cheaper with Sainsbury's Home Insurance and the policy covers everything my lender requires. The problem I have is that we need to complete quickly and the mortgage lender has to have their name on the insurance policy.

Can i just ring Sainsbury's and ask them to do the joint names and then send it to my solicitors for them to pass onto the lender for approval?

Advice appreciated from a FTB who's very stressed
I'm never moving house again!!!!

homer_j_3

Complete the sainsburys insurance and it should ask you whether you want your lender putting as an interest on the policy.

TEDDYRUKSPIN

Glamazon.

As Homer stated.....

The solicitor will only ask you if you have buildings insurance is in place! This is mandatory on for houses.

Cancel the £40 per month scam and just open the sainsbury home insurance. Have you also scanned the HSBC home insurance and Esure as well? Also, liverpool victoria. These tend to be cheaper....

Gailk

When we remortgaged we just asked our mortgage provider to amend the schedule to show hte new mortgage company as an interested party. So go with Sainsburys as ask them to note to lender as an interested party and you should be fine.

allan673

YES JUST CANCEL THE £40 RIP OFF POLICY,

check out barclays and legal and general, these are cheap.
im with barclays and pay £20.00 per month for buildings and contents, with full accidental cover for contents. on a house valued at 160k

Glamazon

thanks everyone

Our authority form from solicitors say we have to have either
Buildings Insurance through lender
OR
Arranged it independently and have received lender's approval (lender is C&G).

Do I actually have to get something in writing form C&G to say that they agree with the policy?
It covers everything that they require so shouldn't be a problem. When I added the Accidental Damage it went up to £33 but othr Policy summaries don't include things like impact by train, aircraft or animal!! :rolleyes:

JF77

Get on Quidco and try Lloyds TSB who are offering up to £120.00 cashback and were very competative for me. They also do Interest Free Direct Debit.

Also, I'm with C&G and they were no probs, I simply told them who the Insurer was and that their interest was noted.

Glamazon

Thanks
I've actually just contacted my current contents insurer, Endsleigh and have got a really good price which includes loads of extras such as Home Emergency and Accidental Damage for a low price. £5 lower than Barclays bog standard and £20 cheaper than Lloyds bog standard!
I got the documents instantly so will will contact C&G on Monday.

Thanks for all the replies
:T

JF77

Result!

Don't you just love it when a plan comes together.:j