Refixing (remortgaging), is not easy but some brokers specialise in mortgages for expats. The only back-door way to remortgage is to do a ‘product transfer’ at the end of the fixed period. This can only be with the same lender and only switches you to the lenders variable rate which is much higher (as far as I’m aware). I understand that few…[Read more]

I’m in the UK now, having moved back from Sydney last year.
And, yes, I’m looking for deals to invest in the near future.
Mortgages are harder to obtain here. All sorts of objections have been given by lenders, EG:
Must have been UK resident for the last 3 years
Employed, being paid GBP, not self employed.
Must own your residential property before…[Read more]

Dear All,
Thank you. I have read all the above posts with great interest and feel much better informed as a result.
Interestingly, no one has replied saying that they have discovered holes in their insurance policies as a result of my Heads-Up.
The chatter in the above recent posts just goes to show what a minefield this can be and that there must…[Read more]

Thanks Benny,
This is the first claim I have had to make in 16 years as a landlord. Unfortunately, it is a doozy.
Easy to get complacent with insurance, thinking I had good cover, when in fact, it was sorely lacking.
I hope that some landlords have had a good look at their PDS document as a result of this post.

Thank you Ethan, I will finalise the claim process with QBE and then we can talk about a new policy.
I hope my experience has been a good warning to others to read all the fine print and make sure that that they are adequately covered, irrespective of what it might say on the cover note..

Thanks Benny, That is a great help.

Thanks Benny,
I will pursue the insurance broker option.

The problem was discovered on the first quarterly inspection by the letting agent.

Re: QBE Insurance. Yes, I failed to read the entire PDS all the way to page 45 to find out about the malicious damage get-out clause. I only have myself to blame for this.
The reason for my post is to warn others based on my experience since I suspect that there…[Read more]

Thanks Hydramax,
I’m impressed at your diligence.
Unfortunately, I have had to learn the hard way with QBE.
Any suggestions for where I should turn for a Landlords insurance policy that is fair when it comes to malicious damage?
There must be hundreds of subscribers that are in a similar ‘at risk’ state.
Thanks,

Thanks Jason,
So, I’m on the look out for an insurer for landlords that does not have the sneaky limiting clause for ‘malicious’ damage.
I consider myself lucky since, if the tenant had caused a fire by their ‘malicious’ action, the building cover would have been a crippling $10,000. Not the $640,000 that I thought I was insured for.
Anyone know…[Read more]

Yes, I wish more people knew about this insurance racket.
Maybe a good idea for Propertyinvesting.com members to have a list of insurers that do not have this clause that severely limits payouts for anything deemed a ‘deliberate act’ by the tenant.

Hi Benny,
Plastic everywhere including on all walls.
Water damage to floors. All carpets to be replaced and dried.
Holes in walls for ducting. Walls need rectification and fully redecorated.
Electrical wiring tapered with. Electrical surveys and repair.
Wiring strung from ceilings. Lights disabled. Smoke alarms disconnected.
Huge amount of debris…[Read more]