Insurance

As part of the mortgage process you will be required to have certain insurances in place. These are normally paid at closing or completion. You should ensure that you obtain quotes for these as early as possible, as they will need to be included in any affordability calculations.

Title Insurance (not all countries): insurance that protects your lender against any title dispute that may arise over your property. Through a title search, the lender verifies who the actual property-owners are and whether the property is free of liens. The title search company then issues title insurance which protects the title of the property against any unpaid mortgages and judgments. In case a claim is made against the property, the title insurance provides legal protection and pays for court fees and related costs. You may also purchase Owner's title insurance which protects you as the homeowner.

Buildings Insurance, Homeowner's Insurance or Home Hazard Insurance: an insurance policy that protects your home and your possessions inside from serious loss, such as theft or fire. This insurance is usually required by all lenders to protect their investment and must be obtained before closing or completing on your loan.

Landlords Insurance: if you intend to use the property to generate Rental Income then the chosen policy should include Landlords coverage.

The choice of insurer and/or Insurance Broker to arrange your cover remains your responsibility.

Life Insurance (not all countries): in some countries, such as France, life insurance is a compulsory part of the mortgage, and a policy must be put in place before the loan documents are issued. Mortgage life insurance is designed to help pay off the mortgage in the event of premature death, and can also include terminal illness and or critical illness cover.

Please contact us for further information on any of the above insurances.