Landlord insurance for maisonette

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Landlord insurance for maisonette

    Hi there,

    I am about to complete on purchase of a maisonette.

    I wonder if anyone can recommend a good and economical buildings insurance policy?

    I've looked online but they almost all start by saying they won't insure you if the property is empty. This place has been empty for about 6 months and I will need 3/4 weeks to do it up before letting, so it will be empty for about another month.

    Also, loads of the sites say they won't quote you unless you own the property which clearly until I exchange and complete (simultaneously) next week I won't but I need to be able to get the quotes now so I can put it on risk straightaway next week.

    Any advice or recommendations gratefully received.
    Regards,

    #2
    Originally posted by investor68 View Post
    Hi there,

    I am about to complete on purchase of a maisonette.

    I wonder if anyone can recommend a good and economical buildings insurance policy?

    I've looked online but they almost all start by saying they won't insure you if the property is empty. This place has been empty for about 6 months and I will need 3/4 weeks to do it up before letting, so it will be empty for about another month.

    Also, loads of the sites say they won't quote you unless you own the property which clearly until I exchange and complete (simultaneously) next week I won't but I need to be able to get the quotes now so I can put it on risk straightaway next week.

    Any advice or recommendations gratefully received.
    Regards,
    Try Jardine Lloyd Thompson
    (telephone 0800-316 9842
    or fax 0121-626 7896
    or unoccupiedprop@jltgroup.com)

    OR Lansdown Insurance Brokers
    (telephone 01242-524498
    or fax 01242-221191
    or lansdowninsurance.com).
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment

    Latest Activity

    Collapse

    • Reply to Rent Guarantee Insurance
      by tatemono
      that's the rent guarantee insurance we use and which has worked for us for many years....
      13-07-2020, 20:58 PM
    • Rent Guarantee Insurance
      by oi2004as
      Hi

      I would be interested in your view on the following

      I received a renewal Legal & Rent Guarantee Insurance documents from Rentguard (which initiallyy I purchased through Openrent)

      There is the following condition in their 'statement of fact':
      "The...
      11-07-2020, 11:59 AM
    • Reply to Rent Guarantee Insurance
      by AndrewDod
      No 7.1 will not likely stand up in court. You cannot have open ended guarantor deeds that apply in this way robustly.

      The fact that you have said that it will apply also to unknown rental increases, for an unknown term, and covers unknown costs means that it is likely invalid
      ...
      13-07-2020, 19:39 PM
    • Reply to Rent Guarantee Insurance
      by oi2004as
      To jpkeates
      This is not about zero-risk option. The part which I do not like the most is that I become tenant-dependant for buying insurance.
      They may not reply to my email about their circumstances
      They may not provide correct information
      They may not allow to run re-referencing...
      13-07-2020, 19:14 PM
    • Reply to Rent Guarantee Insurance
      by theartfullodger
      HOW was the guarantee documented please? Enacted as a deed? Guarantor credit checked, given AST & guarantee and advised to take legal advice prior to signing, please?...
      13-07-2020, 19:06 PM
    • Reply to Rent Guarantee Insurance
      by oi2004as
      To AndrewDod
      I have a guarantor on this Tenancy Agreement.
      This is 12-month fixed and then becoming rolling (monthly) contactual agreement.
      The guarantor is a party to the agreement (signed)
      The agreement has the following clauses:
      7.1 In consideration of the Landlord agreeing...
      13-07-2020, 19:00 PM
    • Reply to Rent Guarantee Insurance
      by jpkeates
      I think you're looking for a zero-risk option, but property letting is an investment business with risk baked in.
      I don't blame you! But I think you're going to struggle.

      Like all of us, the rent guarantee insurance sellers didn't see the pandemic coming, and it wasn't covered in...
      13-07-2020, 16:25 PM
    • Reply to Rent Guarantee Insurance
      by AndrewDod
      If a guarantor agreement is valid at all (which is a BIG if) it is not going to be valid past the initial fixed term (no matter what it says) - so as much use as non-stick Sellotape or Jeremy Corbyn....
      13-07-2020, 16:08 PM
    • Reply to Rent Guarantee Insurance
      by Boab
      I doubt anyone in this town has ten years rent. I’m obviously being Uber selective on tenants , but I also wondered about guarantors as well. Does a guarantor have the absolute obligation to cover rent defaults or can they avoid paying as well?...
      13-07-2020, 15:47 PM
    • Reply to Buildings & Contents Insurance - Recommendations
      by ashburnham
      Take a look at the LandlordZONE Insurance Directory for a list of providers.
      13-07-2020, 13:58 PM
    Working...
    X