FAQ - Search
Is each loan covered for the term of the loan?
Yes, the policy is a block monthly bordereau policy which means that each property is covered for the life of the loan once it has been added to the policy.
What type of properties are covered by the policy?
The policy covers any private dwelling house, flat or maisonette in mortgage to the Insured.
Can you cover semi-commercial and commercial properties?
Yes, cover can be extended accordingly, provided the policy is being used in conjunction with remortgages for existing semi-commercial and commercial properties. Separate premiums will apply for these properties but will still be pre-determined in the same way as those for residential properties.
Is cover restricted to local authority searches?
No, the policy covers numerous searches which would normally be carried out by your legal advisors, including local land charges, water/drainage and commons/town or village green searches.
How does the policy operate if it becomes apparent that a property is affected by an adverse search entry?
The policy covers the lender against costs and expenses that may incur including any shortfall in the market value of a specific property. The Underwriters will remove or cure the adverse entry by a number of methods which can include the provision of a specific indemnity policy at no additional premium. This will be arranged on terms acceptable in the conveyancing market to the buyer of the property from the lender.
What are the geographical limits covered under the policy?
The 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.