self build house insurance

roisincorran

Help! Has anyone built a house as much as they could without a mortgage and then got one to finish it off? Or maybe you bought a half built house and got a mortgage to finish it off? If so who did you get your house insurance with?
I have built my house up to first fixings and have got mortgage approval but I need house insurance for the bank to release the money and all the brokers and companies I rang said no to me as they either will insure it from the start or before roof is on or when its finished!!! I cant be the first in the predicament am I??

Curious Geroge

Can you list the companies you've already talked to and maybe someone here might be able to give you another. There is only a few doing this and most brokers use these but to the best of my knowledge, none will provide insurance if the project has started.

BryanF

by PM please

fealeranger

Talk to the bank where you have secured the mortgage, they will more often than not have Self build insurance available. There has to be some insurance available at this point of the build. As an example, say for instance you want to buy this property in this condition and you wanted to borrow money to do so, how would you work out with insurance in this scenario?

roisincorran

My bank as in bank of ireland turned me down for insurance though they said yes to mortgage if I get insurance! I cant list all the companies as the 2 brokers I called just said none of the insurance companies they deal with would give me insurance and FBD said no aswell...

tedimc

The bank are probably only looking for house insurance to cover fire in the event the house burnt down. We had similar issues, but just got basic fire cover from AIB as mortgage was with AIB. Still need to sort liability and theft insurance.

PROJECT K

Hi Roisin - try arachas (similar post a few mins ago!) - they were the only ones who would provide cover once the build had started...

PK