SG Mortgage Solutions offers insurance advice on residential and buy to let buildings & contents insurance

A lender is permitted by law to insist that a property subject to a mortgage is insured continuously, in keeping with their minimum requirements. Due to this it is normally a condition of the mortgage that building insurance is taken out from exchange of contracts.

The sum assured must be based on an estimate of current rebuilding costs and must be increased in line with the House Rebuilding Cost Index. This may result in premium increases.

SG Mortgage Solutions offers insurance advice on residential and buy to let buildings & contents insurance. You should be aware that the lender may impose a charge, and they may insist that their interest is noted on the policy. It is your responsibility to ensure that the payments are maintained to ensure continuity of cover.

Your policy may have limited exclusions and excesses. This will be explained fully in your policy documents and should be checked when you buy your policy and at each renewal date. The policy document is a legal document; if there is anything you do not understand, ensure that you ask for further guidance.