What does this mean on building insurance declaration.

[Sailawaygirl]

Remortgaging house and filling out all paperwork for solicitors managing Remortgage ( supplied by our mortgage broker)
On buildings insurance declaration it says
'we confirm all risks are covered and the policy will be amended on completion of mortgage to include my lender as joint policy holder or my lenders interests noted'

In practise what does this mean? I've looked on my home insurance documents and it doesn't seem to mention mortgage detials anywhere? I provided details that house had a mortgage when got insurece. Do I need to do anything? Or tell insurance that mortgage has changed?

I feel like so many things i dont know with all house mortgage things and when I ask a question on Google or the solicitor ( who speaks insanely fast( the answer is just as confusing.

It means that the lender needs their interest noted on the mortgage so that, in the event of a total loss, such as a fire, they get paid.

thank you.

So practically I just need to remember to phone up insurance company and tell them i have mortgaged

Yep. I'd suggest you contact the insurer and the lender to make sure any forms or whatever needed have been completed.

Yes, however an insurer can just do a search to find the financial interest in the house in the event of it being destroyed.