Buildings & Contents
If you own your own property, you will need to have buildings insurance in place, in case your home needs repair, or is damaged. If you are buying the property with a mortgage the lender will make buildings insurance a condition of the mortgage offer.
You can choose to protect the building only, or also include the contents within the property too.
Freehold Vs Leasehold
Whether you are purchasing a Freehold or Leasehold property, both will need to be insured.
This is something that needs to be implemented before the exchange of contracts. It will be the buyer’s responsibility to ensure this is in place
While building insurance is still required for a leasehold property (commonly with flats), the buildings insurance will be covered through the maintenance/service charge, which we recommend discussing with your solicitor. The building is covered as a whole, rather than individual flats.