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We are in the process of buying a new build. We have had the mining report back and although it has passed it has been flagged that there is a mine entrance within 4 metres of the property. This is not within our boundary, however it is close. It has been treated and the paperwork is available for anyone who wishes to see it.
The mortgage valuers have said they are happy to maintain the valuation provided we can get buildings insurance at the standard rate.
Does this mean we have to share this with insurance companies in phone calls for quotes, or is it something that will come up automatically in their checks against the house when you ask for quotes? Any advice would be gratefully received
Clueless in anticipation 🥴
Be honest and tell them up front. Generally they ask if the area is subject to flooding, subsidence etc. I don't believe they do individual checks on properties, although they seem to look at potential issues by post code. If you omit a potential risk that you are aware of and later that is an issue they may declare your insurance invalid.
Thanks for replying, I spoke to someone at Lloyd’s and she was very blasé about it - no you wouldn’t need to tell us that!
I suppose it’s a case of better safe than sorry, let’s see what that does to the premiums! 😬