Time off from payments with no strings attached. Great, right? Well, you get nothing for nothing and that is especially true when talking to a bank!
We offer our predictions for property prices for the year ahead. Watch this short video to find out more.
At Mortgage Matters Direct we saw an uplift of activity in the mortgage market which continued to accelerate as we went into Quarter 4.
Land and New Homes expert Jason Willets gives his view on the property market for the year ahead.
Lettings expert, Jason Bunning offers his take on why there was such an uplift in rentals in the last half of 2019. Will this year be the same?
Rightmove suggests there will be a 2% rise in property prices in 2020. Do we agree?
Our latest biannual report looks at the UK’s housing market over the past 6 months and gives us a better idea of what to expect in 2020 and what it means for you and your mortgage.
Drumroll please… Mortgage Matters Direct is being shortlisted for the Best Broker Award (South East) at the NatWest Local Hero
Should I take out Contents Insurance?
Although it’s rare for mortgage providers to insist on Contents Insurance, it’s a very good idea to have it anyway. Usually non-permanent fixtures and fittings, such as carpets, laminate flooring, tiles and curtains or shutters aren’t covered under Building Insurance alone. Your provider will unlikely pay to replace these unless you have Contents Insurance in place too.
Speak to an advisor
What does Building Insurance cover?
Building Insurance saves having to pay out for damage from:
● Fire from an electrical fault, bad weather or simple human error.
● Flood including damage from leaking pipes, taps or bad weather.
● Frost including damage caused by frozen pipes.
● Theft or attempted break-ins.
● Accidental breakage with some policies.
Some Building Insurance policies extend to cover your garden and any outbuildings. Every policy differs, so do check the small print beforehand.
Typical things Building Insurance includes:
● Alternative accommodation while your home is being fixed.
● Fixing leaking pipes from water or heating systems.
● Addressing subsidence or landslides.
● Damage caused by falling trees on your property.
● Replacements or repairs to broken windows – either through
accident or theft and vandalism.
Building Insurance exclusions:
It’s unlikely that your provider will provide cover for any of the following:
● Wear and tear.
● Damage to outside pipes from frost.
● Storm damage to your garden gates, fences and plants.
● Deliberate damage caused by you or anyone living in your home.
● Damage caused by animals – including pets, birds and insects.
It’s possible to invalidate your policy by vacating the property for longer than 60 days or renting out your home without seeking your insurer’s permission. It’s a good idea to check with your provider beforehand if you’re planning on taking a long holiday or letting your home out while you’re away.
Should I take out Building Insurance?
Yes. Every mortgage provider insists that you are covered by Building Insurance before completing on your new home.*
*Some properties may come with buildings insurance built in and paid for through a service charge. Speak to an MMD adviser to see if you are covered.