Hi all. I am buying a house. It has got a garage but it is under a coach house. I have posted in the covid thread some question but decided to open a new thread.
I would like to have some opinions and would love to hear some feedback either from personal experience or as an advice.
Because this is our first time buying a house we would like to ask for second opinion in here from those with more experience and see if it is in line we are thoughts as well. The bank has suggested us a life and ci cover and also an income protection cover.
1. The joint decreasing life and critical illness cover in order to protect the mortgage was offered.
I guess this is mandatory right? Now the question is it mandatory to do this with the lender? Or can we go and do with another provider that offers this - provided it is possible? In you opinion would it be better to do with the lender or another provider? In general do we get a better deal with the lender o provider? Also in terms of prices which one is more competitive?
2. We have been also recommended to do an income protection for me and my partner.
Question: I think the questions that I did above I guess is applied here.
I think the most important thing is to know if we should go with what the bank is offering or if we should seek another insurance company. We looked at aviva and for life and ci cover they charge roughly 80 pounds (-50 than what the bank is asking). We haven't simulated an income protection cover yet but I guess it will be lower in terms of monthly payments compared to what the bank is offering.
What did you guys do in your case? Any help is appreciated and some guidance just to have a feel and other opinions.
Now a separate question in regards to the coach house. We have to do an insurance for the building. Now since the garage is under a coach house how do we go about it? Whom is responsible for this since it is a leasehold type of thing? Moreover, what happens if something happens to the garage, say a leak coming from the house? or if there is a fire on the house?
Who is responsible for each part of the garage? We have one of the walls facing the garden. We have direct access to the garage via garden.
Thanks in advance.
I would like to have some opinions and would love to hear some feedback either from personal experience or as an advice.
Because this is our first time buying a house we would like to ask for second opinion in here from those with more experience and see if it is in line we are thoughts as well. The bank has suggested us a life and ci cover and also an income protection cover.
1. The joint decreasing life and critical illness cover in order to protect the mortgage was offered.
I guess this is mandatory right? Now the question is it mandatory to do this with the lender? Or can we go and do with another provider that offers this - provided it is possible? In you opinion would it be better to do with the lender or another provider? In general do we get a better deal with the lender o provider? Also in terms of prices which one is more competitive?
2. We have been also recommended to do an income protection for me and my partner.
Question: I think the questions that I did above I guess is applied here.
I think the most important thing is to know if we should go with what the bank is offering or if we should seek another insurance company. We looked at aviva and for life and ci cover they charge roughly 80 pounds (-50 than what the bank is asking). We haven't simulated an income protection cover yet but I guess it will be lower in terms of monthly payments compared to what the bank is offering.
What did you guys do in your case? Any help is appreciated and some guidance just to have a feel and other opinions.
Now a separate question in regards to the coach house. We have to do an insurance for the building. Now since the garage is under a coach house how do we go about it? Whom is responsible for this since it is a leasehold type of thing? Moreover, what happens if something happens to the garage, say a leak coming from the house? or if there is a fire on the house?
Who is responsible for each part of the garage? We have one of the walls facing the garden. We have direct access to the garage via garden.
Thanks in advance.