Mortgage help

baz178

baz178

baz178

Associate
Joined
21 Jan 2013
Posts
792
Location
Leeds
Hi, can anybody explain what they want me to do at following below

1. Please can you make the following amendments to the COT and send the revised version over; add the clause/paragraph of the insurance policy where the interest of Bluestone Mortgages has been noted.
 
So if your mortgage company is Bluestone, they want assurance that your indemnity cover will note their interest I suppose in case they repossess they also have the indemnity cover rather than it being tied to just you.

So make sure that is the case.
 
When buying home insurance, you often note the mortgage company as an interested party (specifying company name & address). It sounds like they want proof that you have insurance and have noted their interest on the policy.

From an online quote & buy site:
Interested party details
We'll add these details to your policy schedule, ready for you to print and post to your interested party as proof of your home insurance.
Click to expand...
 
CapitalOne said:
So if your mortgage company is Bluestone, they want assurance that your indemnity cover will note their interest I suppose in case they repossess they also have the indemnity cover rather than it being tied to just you.

So make sure that is the case.
Click to expand...


How do you sort that out ?
 
I’ve just received a email from the home insurance and they said below ! Do you think that will be enough


Thank you for your call regarding your Home Insurance Policy.

Further to our conversation on 12/01/2022 I am happy to confirm that we acknowledge the financial interest held by Bluestone Mortgages Ltd in the property on cover with us, specifically

………………….
 
It sounds like they ('they' presumably being Bluestone Mortgages) want your lawyer to update the Certificate of Title to reference a clause in your insurance policy, so at a guess, I would say what you need to get done is have your lawyer update the Certificate of Title to reference a clause in your insurance policy, rather than an email.

Maybe the lender will be happy with a reference to an email on the Certificate of Title, probably best to get your lawyer to deal with it.
 
I've had similar to this, Lloyds wanted it noted on my building insurance (with Aviva) that they were the interested party.

I beleive this only exists for group insurance policies, where more than one property is covered in the whole buildings insurance - I believe there was a note made on the policy specifying exactly which flat Lloyds were an interested party of.

It's to be done via whoever your insurance policy is with.
 
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