Buildings and Contents Cover
Which ever lender you end up
having your mortgage with, will insist that buildings protection
is taken out. As they would have a lot to lose if the house
was to burn down. This is the only protection type that is
compulsory.
Contents cover, is an optional extra,
but it is recommended that you take out a combined policy
with the building cover, as it can work out cheaper than two
separate policies. Most people do not wish to take the chance
of losing everything should their home burn to the ground,
or if you were the victims of a burglary.
There are many different levels of cover
and it makes sense to choose the cover that best suits your
needs rather than just covering everything whether you need
it or not. And we at Northridge Mortgage Solutions, could
help you make those choices by talking through all the options
available and premiums for each type of cover.
The premiums will be based on the post
code of the property, the rebuilding costs or in some cases,
the number of bedrooms the property may have. Many protection
companies will offer you a discount depending on the security
at the property, this could be a serviced alarm, or certain
locks fitted to windows and doors.
You may also receive a no claims
discount if you haven't made any claims in the past few years.
For the protection products mentioned
within this page we usually offer products from a single provider.
Your home may be repossessed
if you do not keep up repayments on your mortgage.
Details
of our fees can be found here.
The FSA does not regulate Commercial
Mortgages or some forms of Buy to Let Mortgages.
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