15/10/2026
π‘π DID YOU KNOW? Buildings Insurance is an important part of buying a home!
When purchasing a property with a mortgage, your lender will normally require you to have buildings insurance in place from the exchange of contracts.
Your solicitor may ask for confirmation of your insurance before exchange, so it's important to have everything arranged in advance.
π But why is this so important?
Many buyers assume they don't need buildings insurance until they've collected their keys and moved into their new home.
But imagine this...
π‘ You've exchanged contracts on your dream home.
πͺοΈ Before completion, the property suffers serious damage from a storm, flood or fire.
π· Who is responsible for the repairs?
In England and Wales, the risk of damage will usually pass to the buyer on exchange of contracts, unless the contract states otherwise. This means you could be responsible for costly repairs before you've even collected your keys!
β οΈ And that's why buildings insurance matters.
For many people, buying a home is the biggest financial commitment they'll ever make.
Yet the cost of protecting that investment can be relatively small compared with the potentially enormous expense of repairing or rebuilding a property.
π Buildings insurance isn't just another expense. It's protection for your home, your finances and your future.
At Safeguard Financial Services, we believe understanding the importance of protecting your home is just as important as understanding your mortgage.
Because getting the keys is exciting, but protecting what's behind the door is essential. π‘π