FAQ - Environmental
What type of properties are covered by the policy?
The policy covers any private dwelling house, flat or maisonette in mortgage to the Insured.
How much cover is provided for each loan/property?
Each loan/property is covered for up to £50,000.
Does the local authority have to issue a remediation notice for cover to apply?
No. Our policy covers you against costs and expenses you may incur in order to comply with any remediation required by the local authority on a specific property (whether or not a remediation notice has been served).
We are concerned with the “blight” element. How does the policy deal with this?
The policy would allow remediation to take place more quickly than normal because you do not have to wait while the usual procedures are followed by the local authority before remediation is finally carried out. As a result the potential “blight” on your security will be removed a lot quicker by having cover in place. In addition the policy includes cover for any shortfall in the market value of a specific property as a result of remediation work having been necessary.
What about if we need cover for a loan which is in excess of the standard £50,000 limit of indemnity?
Cover in excess of £50,000 can be arranged on request separately or a higher standard limit can be requested.
What are the geographical limits covered under the policy?
Our policy covers properties situated anywhere in the United Kingdom.
Do you offer any other products for lenders?
Yes, please click here for our full range of policies.