Buildings and Contents Insurance

Please note that the Contract for the sale of your property will stipulate that buildings and contents insurance will remain your responsibility up until the date of completion. This effectively means that it will be necessary for you to retain your existing buildings and contents insurance on the property until you vacate the property on the date of completion. In the event that you wish us to alter the terms of your Contract of Sale in this respect to allow for the responsibility to pass to your Purchaser on the date of exchange of Contracts, you must provide us with written and verbal confirmation in this respect.

Please note that it is "your responsibility" to ensure that buildings and contents insurance is placed on risk. The date upon which a buildings insurance policy needs to be placed on risk varies depending upon the contractual terms of each transaction.

It is "your responsibility" to contact us prior to exchange of contracts to confirm the date upon which your buildings insurance policy needs to be placed on risk. In the majority of circumstances your buildings insurance will need to be placed on risk as of the date of completion. In certain circumstances it may be necessary for you to insure the property on the date of exchange of contracts. Please note that no warranty or responsibility is accepted by us in ensuring that your buildings insurance policy is placed on risk at the appropriate time.

Should you decide to arrange your property insurance independent of your Mortgage Lender, then we would refer you to the Terms and Conditions of your offer of mortgage at this stage. Please note that your Mortgage Lender may require that your property be insured for a specified sum, and that its interest in the property is specified on your policy schedule. We confirm that it will be necessary for you to provide us with a copy of your insurance schedule, prior to Exchange of Contracts. Please note that in the event that time is spent by ourselves in pursuing your buildings and contents insurance policy on behalf of your mortgage lender or if we are required to check the detail of the policy, this work will incur additional charges

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