Help!!Bank wont release mortgage check because of block policy!!!

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Emma 101

Guest
I put a 10% deposit down on a duplex last april and its ready now!i got mortgage approval ages ago and the only conditions was that the block policy would be foward to the lender before the check was issued!!my solictor fowarded this last week now the bank have come back and requested a line to be removed from the block policy before they release the check!!!
my solictor has requested this last week but has still heard no word back from the management company (who organise the block policy) i have asked my solictor his views on this and he says he has never come across this before and doesnt know what the outcome will be!
i am very worried about this now - what if the insurance company wont removed this line and the mortgage compnay do not release the check - will i lose but 10% deposit 23,500!!
 
It depends what the line is? Is it the full address of the bank you have borrowed from? if it is this happens all the time where they just state AIB etc and it has to have full address. Could you clarify what the extra line is?
 
the line that the mortgage lender wants removed is
Part d. and issue such claim settlement cheques to you
i have talked to someone from the irish insurance federation and they said that this is a standard line in all block polices and cannot understand why the bank should want it removed.
they have never heard of this before!!they also said it is unlikely that the insurance compnay will remove it!!!my solictor is not very helpful at all he just says he will ring me when he hears something and now im extremely worried!!!
 
What lender are you dealing with?

Are you dealing directly with the Lender yourself?

Have you relayed what the IIF said to you back to the Lender?
 
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