• Exchange Contracts

    By Guest on 23rd May 2016

    we have the contract from the solicitor but no date for exchange of contract, but solicitor asked for building insurance, does this need to be signed up before exchange of contract

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    By Guest on 30/05/2016

    You have to insure the property from exchange of contracts so you need to get to the position where, on the day of exchange, you can call your insurers/go online and putting the cover on risk immediately. In addition some mortgage lenders still insist on the solicitor checking the details of the insurance and some want it to be supplied with the request for the mortgage advance so they will want to know you will have the correct insurance before committing you to the contract.

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