Ensuring Insurance

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    Ensuring Insurance

    Looks like I'm going to get my first rental property. I will be getting a BTL mortgage for a small, very cheap house, possibly with a sitting tenant. What minimum insurance do I need legally; what do you advise on top of that, and who is the best provider of such insurance?

    None legally, but very very likely the mortgage will require it. Check exact requirements.

    And when does the tenant say they 1st moved in (don;t trust vendor, agent or solicitor..)??
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...


    Latest Activity


    • Recommendation - Company Let
      by PaulW23
      I have a property that my Agents have recommended a company let with a local Charity that supports young people coming out of Care Homes. The charity let the property under a company let agreement and pay all the rent.
      The problem I am finding is getting insurance for such a situation. It is not...
      18-05-2022, 09:51 AM
    • Reply to Recommendation - Company Let
      by theartfullodger
      Google rent to rent scam.

      18-05-2022, 15:26 PM
    • Reply to Recommendation - Company Let
      by nukecad
      What your agents are proposing is a let-to-let arrangement.

      The general advice is to avoid such schemes like the plague.

      You are letting to a company (the charity). They then let you property to someone else.

      The people they put into the property are not your tenants,...
      18-05-2022, 12:35 PM
    • Buildings insce for tenant
      by Linden
      I understand it is a landlords responsibility to insure the house I live in. However, as a tenant, could I choose to take our buildings insurance. If I could, I would then advise my landlord that I have done this, and he has no need to.
      Would the insurance in my name my valid?...
      17-05-2022, 07:55 AM
    • Reply to Buildings insce for tenant
      by ashburnham
      The insurance in your name would be invalid. Only the owner can insure the property. What is the reason for you wanting to do this?
      17-05-2022, 14:48 PM
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      by Hooper
      When calculating a reinstatement cost for buildings insurance, is it assumed that it must include a sum for contingencies? And if so what sort of percentage?

      The context is that I have been found to be underinsured and proportional remedy applied to the claim. The building reinstatement...
      15-05-2022, 12:09 PM
    • Reply to Declared value (reinstatement cost) and contingencies
      by Hooper
      I've just skimmed the RICS professional standards and guidance, "UK Reinstatement cost assessment of buildings" and there is no mention of contingency sums anywhere in it. It says that each report should make allowances for specific peculiarities of any site but does not mention making allowances...
      16-05-2022, 09:23 AM
    • Adding 12% charge to insurance premium.
      by Ferndale
      Can a greedy freeholder add 12% to each of 8 flats in 2 blocks he owns for renewing or a phone call and admin ? It’s £40 each on top? How is this reasonable?...
      11-05-2022, 19:45 PM
    • Reply to Adding 12% charge to insurance premium.
      by ashburnham
      12% is the current rate of Insurance Premium Tax (IPT). Some documents from insurers/brokers/agents/freeholders may not be great at displaying clear information and could possibly be misread as a charge being made on top of the insurance cost when in fact it is actually tax. Might be worth double c...
      12-05-2022, 10:31 AM
    • Reply to Adding 12% charge to insurance premium.
      by AndrewDod
      Is this freeholder or an agent for the freeholder.

      But no he can't. Unless lease says so. But an agent sort-of can (and then hand part of it back to FH as the usual backhander). Part of the reason the whole legal framework is so messed up....
      12-05-2022, 09:51 AM