When to activate mortgage protection & home insurance?

2Clueless

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68
Getting close to closing (fingers crossed). Everything appears to be going well and both solicitors are anxious to close. A date of August 21st is looking likely. My very experienced solicitor sister (not involved in this transaction) says that I should try to have my MP & H Insurances activated at least 10 days prior to closing. Thoughts?
 

PaddyBloggit

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3,328
I should try to have my MP & H Insurances activated at least 10 days prior to closing. Thoughts?
I activated mine but closur date got pushed out and I ended up paying for 6 months prior to closure.

Make sure your closure date is your closure date before you activate it or you could end up like me paying for insurance not yet needed.
 

Monbretia

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1,633
House insurance used to be always activated on signing of contracts as you then have an insurable interest in the property, not sure if same advice is given these days, it was back in my day anyway :) Mortgage protection should be quick to active once acceptance is issued, just make sure you don't go beyond whatever date it's valid for as that can cause delays again.
 

myate

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225
A couple of days before 21st August I'd contact your solicitor & see if that date will really happen. If it does get the protection/insurance activated a day or two before or arranged to become active on 21st Aug. I know when we bought/sold last year, the bank needed that protection in place before drawdown and they wanted the original paperwork.
 
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