FAQ - Vacant Possession
What type of properties are covered by the policy?
The policy covers any private dwelling house, flat, maisonette or semi-commercial premises in mortgage to the Insured. We are also able to consider extending cover to include commercial properties.
In the event that we are unable to obtain vacant possession, how would the policy operate?
Our policy covers you against all such loss damage costs and expenses you may incur. As part of handling any claim, the Policy would operate in a manner which indemnifies against losses incurred as a result of there being a loss in market value of the property because of the inability to sell with vacant possession. Alternatively, depending on the circumstances of the claim, the Policy may operate to allow the Underwriters to try and free the property from the encumbrance to enable the property to be sold with vacant possession.
Are the General Conditions in the policy wording flexible?
We will always try to be flexible to accommodate any amendments that are required to reflect your own procedures. Specific requests should be raised at the proposal stage for our consideration.
What are the geographical limits covered under the policy?
Our policy covers properties situated anywhere in the UK and Channel Islands.
Do you offer any other products for lenders?
Yes, please click here for our full range of policies.