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What insurance do you need to buy a home?

Are you buying a home in 2025? You’ve sorted out your finances, found the perfect home to buy, and now all you need to do is move in? Don’t forget insurance as the last step! We are here to help — call us today to get all your insurance in order before you commit to buy. 

When buying a home, you may need several types of insurance or want to consider. We will give you a quick runthrough of what you might need. But reply to this email for more details. Let’s jump in!

1. Buildings Insurance (Mandatory for Mortgages)
What it covers: Protects the structure of your home (walls, roof, floors) and permanent fixtures (kitchen, bathroom) from risks such as fire, flooding, or subsidence.
When you need it: If you're using a mortgage to buy the property, your lender will require you to have building insurance in place from the date you exchange contracts.

2. Contents Insurance (Optional but Recommended)
What it covers: Protects your personal belongings (furniture, electronics, clothing) against risks like theft, fire, or water damage.
When to consider: Useful once you've moved in to protect your possessions.

3. Life Insurance (Optional but Common)
What it covers: Ensures your mortgage will be paid off if you pass away.
When to consider: Often recommended for homeowners with dependents or joint mortgages to provide financial security for loved ones.

4. Mortgage Payment Protection Insurance (MPPI) (Optional)
What it covers: This helps cover your mortgage payments if you lose income due to illness, accident, or redundancy.
When to consider: Worth evaluating based on your job security and savings.

5. Income Protection Insurance (Optional)
What it covers: Provides a percentage of your income if you're unable to work due to illness or injury.
When to consider: A broader option compared to MPPI, as it can cover all living expenses, not just the mortgage.

6. Critical Illness Cover (Optional)
What it covers: Provides a lump sum if you're diagnosed with a serious illness, which can help pay off the mortgage or cover other expenses.
When to consider: Often sold with life insurance but can be standalone.

Would you like help finding providers or understanding costs? Give us a call for more details!

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Fairview Financial Ltd is an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority. Fairview Financial Ltd is registered in England and Wales no: 10912424. Registered office: 107 Promenade, Cheltenham, GL50 1NW.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

@ 2020 by Fairview Financial

Our Fees        

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Our standard fee for mortgages is £395 and this is paid when the mortgage is offered. We charge a fee of £295 First-Time Buyers. Other fees may apply depending on the complexity of the work involved or loan amount. The maximum fee we can charge is £795.

Our standard fee for Equity Release is £895 and this is paid on completion.

We also receive a commission from the lender that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. If we receive a commission, this will not affect the cost payable by you.

THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT.

BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

EQUITY RELEASE: THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.


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