Watch Out – Best Mortgages But With a Catch!

by Readers Question

11:18 AM, 16th February 2015
About 6 years ago

Watch Out – Best Mortgages But With a Catch!

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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! Watch Out - Best Mortgages But With a Catch

Regards

John Hart

Comments

Joe Bloggs

10:36 AM, 10th March 2015
About 6 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.

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Revised Right to rent requirments from 21st June