Introducing new leasehold cover for lenders: No mortgagee protection clause[23/11/2020]
A mortgagee protection clause safeguards lenders by insisting that a landlord must notify them before taking action to forfeit a lease and repossess a property, if the leaseholder has failed to observe the terms of their lease.
Our brand new ‘Forfeiture of lease – no mortgagee protection clause’ policy protects lenders on residential properties, if the clause is absent, against losses under a mortgagee from forfeiture proceedings they were completely unaware of.
Premiums start at just £225 for a policy limit of £50,000. More information can be found on our products page under the ‘Defective Lease’ heading, or you can speak to an underwriter directly by calling 01603 617617 or emailing firstname.lastname@example.org.