House insurance question

[Emma Power Mortgages]

House insurance question
So I’m buying a house
Need insurance to start on exchange date which I don’t know yet
And need the mortgage company “named as an interested party” on the policy, according to mortgage offer letter
Ideally I want the certificate of insurance sent to me as a pdf so that I can immediately email it to the solicitor and not add a delay for it arriving in the post
So which insurance companies do certificate as pdf?
How easy is it to get mortgage company added as interested party (as none of the online quote engines mention this)
Can I buy insurance before I know the exchange or completion date?
Main issue is that I would like to get it sorted while I have time as I am likely to get exchange date confirmed over a few days when I will be very busy
Cheers

Providers like Aviva, direct line, payment shield will be most accommodating for this sort of thing probably best to call them directly and explain your requirements

[Support Monkey]

House insurance question
So I’m buying a house
Need insurance to start on exchange date which I don’t know yet
And need the mortgage company “named as an interested party” on the policy, according to mortgage offer letter
Ideally I want the certificate of insurance sent to me as a pdf so that I can immediately email it to the solicitor and not add a delay for it arriving in the post
So which insurance companies do certificate as pdf?
How easy is it to get mortgage company added as interested party (as none of the online quote engines mention this)
Can I buy insurance before I know the exchange or completion date?
Main issue is that I would like to get it sorted while I have time as I am likely to get exchange date confirmed over a few days when I will be very busy
Cheers

You need to sort out an expected exchange date with the vendor then buy the insurance on the basis of this date or the date of exchange, if it falls through you just cancel the policy, ok you might lose a few quid but better than messing around

on your other point about having the mortgage company named on the policy as an interested Party, In all my years of buying house insurance (the last one being this month) I have never heard of this, my understanding is that all the mortgage company need to see is the schedule of insurance, I have just remortgaged and that's all they wanted

[CoolCat]

So nobody has seen a list of which insurance companies will send the certificate out as a pdf the same day?

As many wont thats all I need really

[ContrataxLtd]

So nobody has seen a list of which insurance companies will send the certificate out as a pdf the same day?

As many wont thats all I need really

I would have thought most of the main stream insurers would, I know Tesco's certainly do as I've just renewed with them and got the renewal certificate in a matter of minutes.

[WTFH]

So nobody has seen a list of which insurance companies will send the certificate out as a pdf the same day?

As many wont thats all I need really

So, you mean you don't want to organise the insurance before hand so you have the paperwork a few days before the insurance becomes active?


You will need to know the exchange date several days before exchanging, because the mortgage company has to release the funds. If you find out on Monday 13th June that the exchange date is going to be Friday 24th June, then on Monday 13th June you get the insurance. When you are buying the insurance on 13th June they will ask you when you want it to start. You say to them "Friday 24th June". On 13th or maybe 14th June, the insurance company will send you the documentation. It will say the insurance starts on Friday 24th June.
And that's how you get insurance for a house before the day you exchange contracts.


Now, my question to you is: do you plan to exchange and complete on the same day, or exchange before completion?

[Forgotmylogin]

Now, my question to you is: do you plan to exchange and complete on the same day, or exchange before completion?

Good luck if you do. While this used to be widely available that's not the case anymore.
Most mortgage companies will say no, as they'll need time to prepare and release the funds between exchange and completion - mostly 5 days.
I wanted to e&c sameday after my vendor had been delaying and it's just not possible anymore.

[OwlHoot]

Are you talking about buildings insurance? Then it's important you have but not necessary for purchasing. Just make sure you get it in the coming months.

This is misleading nonsense (although things may differ in Scotland).

After exchanging contracts on a property in England, you have a 10% (or whatever percentage was agreed) stake in the house.

Your stake should be insured right away, from the date of exchange, because from that date the owner's insurance will pay them only 90% of the cost of any claims and you, if not insured, would be liable for the rest!

[WTFH]

Good luck if you do. While this used to be widely available that's not the case anymore.
Most mortgage companies will say no, as they'll need time to prepare and release the funds between exchange and completion - mostly 5 days.
I wanted to e&c sameday after my vendor had been delaying and it's just not possible anymore.

My sneaking suspicion is that the OP doesn't realise there is a difference between exchange and completion. Hopefully they have gone for a decent solicitor and not www.CheapestSolictorsICouldFind.co.uk

[CoolCat]

My sneaking suspicion is that the OP doesn't realise there is a difference between exchange and completion. Hopefully they have gone for a decent solicitor and not www.CheapestSolictorsICouldFind.co.uk

i know

just going to be short of time while its all going on

[WTFH]

i know

just going to be short of time while its all going on

OK, so have we explained to you how you get house insurance that starts in the future?