Mortgage protection on an older house?

Estrellita

Hi all, quick question hopefully someone can help.

Currently in the throes of buying a house, so naturally trying to sort out mortgage protection. We are finding some places won't give mortgage protection on houses over 100 years old. Googling isn't giving me any direct answers, perhaps someone here has experience on the matter. Does anyone know of anywhere willing to give protection on a house 100yrs+ house?

Thanks in advance,

Est.

L1011

I am presuming you mean house insurance, not mortgage protection (which is on your life, not the house)

Most insurers are willing to insure houses over 100 years old - unless every single one you've found is refusing, go with the best of the ones that haven't. There is no single great insurer for older houses. Try the big name insurers and brokers and avoid the cheap, quick-quote ones who will have assumptions that exclude older properties to allow them to cite low prices.

Estrellita

L1011 wrote: »

I am presuming you mean house insurance, not mortgage protection (which is on your life, not the house).

And this is what caused the confusion, spot the first first time buyers. This whole thing is making me batty

To use an example, UB are saying in their application for house insurance that a house cannot be over 100 years old. I guess I'm panicking a bit because a lender won't part with the cash unless there is insurance in place. Don't want to let the place slip through the net

Thank you for replying though, and for uncrossing my wires!

wench

For a lot of them the online application will rule you out if you don't meet strict criteria.
However, if you ring them, most will quote you.

machalla

Try this broker <snip>

You will likely pay significantly higher insurance rates on non standard insurance.

Mrs OBumble

Just ring them.

Most won't quote non-standard things over the internet, but will by phone.

atgate

Also, with older houses be careful about the amount you insure for. Older houses can be more expensive to reinstate. And if the house is a protected structure or in a protected area it might be significantly more expensive to repair / rebuild. The rule of thumb estimates won't cut it. There are specialty brokers out there. Check the Irish Georgian Society's website for some info on older houses and insurance.