Watch Out – Best Mortgages But With a Catch!
Watch out. We bought 2 properties recently on really good terms with Woolwich & Natwest. The Mortgages were very good rates – and mortgages depending good financials to complete – found by our long-standing and trusted financial advisor. However, both houses cost £70k each and they state a requirement for a £140k re-build insurance costs each. This is in the finer detail once you’ve signed up. Ouch – talk about being risk adverse and covering themselves. My insurance company is loving it!
Regards
John Hart
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Inheritance planning need advice
Member Since June 2013 - Comments: 646 - Articles: 1
10:36 AM, 10th March 2015, About 11 years ago
I SEE YOU ARE TRYING TO FIGHT ALLEGED UNDER INSURANCE WITH A MATEY BUILDERS ESTIMATE. THE NORM IS THE BCIS INDICATOR. THIS INCLUDES DEMOLITION, SHORING, FEES, SERVICES ETC. IM GUESSING YOU ARE WELL BELOW BCIS LEVELS. YOU COULD TRY AND ARGUE THAT YOUR PROPERTY IS OF ONLY BASIC QUALITY. YOU ARE FORTUNATE TO GET A PERCENTAGE PAYOUT AS SOME POLICIES VOID THE WHOLE CLAIM IF THERE IS SIGNIFICANT UNDER INSURANCE.