Mr lons

[Lee Lons]

Last year my home was subject to a house fire and was completely burned down . All mortgage payments are upto date . I finally have contractors in place etc to rebuild . I believe my insurers will want an authorisation note from my mortgage lender in order for them to pay me on a cash settlement basis and then I can in turn manage the build and pay the contractors.

Will this authorisation be easy to get , am I entitled to proceed as above ?

[Richard Webster]

You will need to consult your lender properly on this.

[Lee Lons]

thanks , I understand the caution ref liability but was just looking for a view , I am being told the mortgage company will just need to see evidence that I intend to rebuild ?

[Richard Webster]

This doesn't happen very often and every lender has a different internal set up so it is difficult to know how far they will want to be involved in supervising what is done.

Most mortgage deeds incorporate wording that prevents you doing any building work without the lender's consent so they would be able to use that to insist you complied with their requirements if they wanted to get involved in the fine detail.

[Lee Lons]

thank you for your help