Get the right insurance for your property purchase
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Property Owners Insurance is a type of home or building insurance for properties that aren’t occupied by you as the owner.
For example, a buy to let property, HMO, or commercial property requires property owner insurance as opposed to standard, residential home insurance.
Getting the right insurance policy for your property is important – if you have the wrong policy, you might not be covered for everything that you expect and future claims you make against your policy could be invalid. Or, you could end up paying for complicated insurance policies that cover you for things that you don’t need.
In addition, some buy to let mortgage lenders require the correct property owner insurance to be taken out for your property for them to offer you a mortgage, or offer you the best rates. Property insurance offsets the risk to your lender that you won’t be able to keep up with your mortgage repayments due to accidental property damage or lapsed rental income.
Standard, residential home insurance policies only cover the building, contents and personal possessions of your home – they don’t cover loss of rental income, legal expenses, and other claims you could expect from a property that you don’t occupy personally.
Many of our clients taking out Buy to Let mortgages choose to speak to an insurance broker at the same time in order to make sure they’re getting the right protection for their property to sit alongside their mortgage.
You don’t have to have property owner insurance to own a property that you don’t live in or get a mortgage on one.
However, some buy to let or commercial mortgage lenders prefer you to have one. They might not choose to offer you a mortgage if you don’t; or, they’ll reserve their best interest rates for customers that do.
The affordability calculations for a Buy to Let mortgage are largely based on the rental income your property is expected to generate. So, getting a loss of rent insurance policy will give your mortgage lender reassurance that you’ll keep up with your repayments even if you have unforeseen issues with your property or tenants.
Of course, you also benefit from the peace of mind that you’re covered financially for the unexpected.
Speaking to an insurance broker is the best way to make sure you’re covered for all of the essential risks with your property purchase.
You don’t want to be paying for cover you don’t need, but there also could be some must-haves for your situation that you may have overlooked.
Our partner insurance broker is connected to a wide range of specialist insurers to ensure they can provide bespoke insurance packages to our clients to meet their exact requirements. But they also don’t rule out working with more mainstream insurance providers if they can provide the right insurance policy for you at a cheaper price.
Our partner’s property insurance services include:
And in addition to property insurance services, they can also provide consolidated insurance packages for the following scenarios:
Insurance for Expats
They can arrange insurance for your new overseas property or in the UK, as well as insurance on any existing rented property you own.
And if you’re moving abroad, they can source overseas health insurance policies too.
HNW Home Insurance
High Net Worth Home Insurance is a specialist form of home insurance designed for HNW individuals.
Our partner can arrange bespoke policies to cover high value homes and properties and the assets within them - ranging from classic cars to valuable artwork, jewellery and watches.
They can also provide a range of business insurance services and insurance policies for commercial property owners, including the following industries:
Our partner company can provide:
Call us on 0117 959 5094 to discuss your requirements further.
I approached Clifton Private Finance to help me get a mortgage as an Expat working in the Far East. I would normally 'cut out the middle man' on something like this and try to get myself a deal directly with the banks, but I am now sold on the broker concept and wouldn't hesitate to use Clifton Private Finance again. There were a number of complicating factors such as being an expat, the stamp duty holiday, the sheer amount I wanted to borrow and the fact I wanted it all wrapped up before the Stamp Duty holiday ended. It is clear to me now that the relationship that brokers have managed to foster with their banks means they can simply pull levers and make stuff happen that us ordinary folk cannot. Put simply, they are worth every penny, will take most of the stress out of the lending process, and seem to have access to deals that you just won't find on the internet. Thank you George and Jan for all your hard work!
Luther was excellent. Very clear in his advice and explanations of products and was able to move things on very quickly when we ran into difficulties with the estate agents. Without a doubt I would recommend Luther to all friends, family and colleagues. Luther was a joy to deal with and took a lot of the stress out of a troublesome transaction, from my end. I would view Luther as real asset to Clifton Private Finance Ltd.
The team at Clifton Private Finance has been outstanding, not only in helping me to obtain a mortgage on a slightly unusual home, but also in continuing to provide support and liaise with the lender and solicitors through to completion. Thank you for making the process of buying my first home much easier.
Sam O'Neill, and the new lender he identified for me, worked tirelessly together using my time constraints, to make sure my mortgage application was completed on time. They are a brilliant company to work with, fast, efficient, open and transparent from the very beginning, and turned a seemingly impossible situation into a viable one. Sam was brilliant throughout the whole process and I would highly recommend him, and his colleague Helen, to anyone without hesitation, I cannot speak highly enough about them.
I was incredibly lucky to find Clifton Private Finance after a search on line as their service has been more than exemplary. My point of contact was Sam 0’Neill and he was happy to help at every stage during the application of the bridging loan, making a stressful process much easier to deal with. He was always available by phone or email and gave prompt answers to queries I had as well as always getting back to me when he said he would. That to me is excellent customer service and I cannot thank him personally or the company enough for the support they have given me.
Adam cannot thank you enough for all your support throughout this arrangement. You have gone more than the extra mile to support us. Without you we would not have got our dream retirement home. You have been most professional and personable. Liz and I would be more than happy if you wanted to use us a reference with respect to any future clients.
Nigel & Liz K - Bristol
You have certainly shown me that you do everything for your clients, including tolerating their excessive emails and questions for updates. I have been kept in the loop, from yourself, about why the delays were occurring (Nationwide, post etc) which I would like to highlight that I really appreciated. I certainly will be able to recommend you to others as and when the need arises.
I recently contacted Clifton Private Finance after a Google search for bridging finance providers and was immediately struck by their efficiency and support. Forms were emailed over almost immediately and the necessary finance was arranged within a few days. None of the other companies I contacted came close to their professionalism, and the quote that I eventually received was impressive. Thank you Adam, your help has enabled us to reserve the house that we wanted and I certainly recommend you to others.
Mr M. R. - Oxford
Absolutely brilliant. The service was first class, got everything sorted efficiently and were always friendly. Any fees were negligible compared to the service offered. Robert was particularly outstanding.
My advisor, Robert, was very helpful in finding the mortgage to suit me. He kept me up to date throughout the process and dealt with any issues when they arose.