Lenders feedback on cost of buildings insurance

[heisthegaffer]

Hi all

A friend of mine is buying a listed property local to me and their solicitors have told them the lender isn't happy that the cost of the buildings insurance is more than £500.

I haven't done personal lines for 20 years plus but have never heard of this at all. Has anyone else ever come across this at all?

I think it's absolutely ridiculous. If it was £10k then perhaps I'd understand as if my friend gets into financial trouble (for whatever reason) that could be a challenge.

Thoughts anyone?

[Countdown]

What does the insurance premium have to do with the Lender?

Even if it was £10k surely it’s covered under the affordability tests?

[heisthegaffer]

Countdown said:

What does the insurance premium have to do with the Lender?

Even if it was £10k surely it’s covered under the affordability tests?

Exactly. Something doesn't add up!

[LooneyTunes]

Less than £500 for listed buildings insurance would feel like stealing!