Figures revealed by the Council of Mortgage lending show gross mortgage lending at the highest level since June 2010 at £12.8 billion. This figure is an increase of 16 percent on the £10.8 billion lent in May 2011 however this still some way short of lending levels four years ago.
Purchasing a new residential property to let is only the start of the financial exposure for landlords and making sure the correct landlord building insurance is in place is vital to protecting any investment.
Simply looking for the cheapest landlord insurance is not always the best option as consideration needs to be given to all aspects of your property including it’s value, any contents, the type of tenants you have, the requirement to cover loss of rent or alternative accommodation should anything occur.
Annual premiums for landlord insurance quotes can vary widely and taking the time to speak with the broker or insurer to discuss your property in detail will allow you to judge the policy on a like for like basis.
Important elements to consider include the public liability levels provided, the policy excesses for each area, the amount of contents cover automatically included and lost rent amounts included should your property become uninhabitable.