Liz Posted May 11, 2012 Report Share Posted May 11, 2012 Just for the information of any expats that are unaware (as I was)! If you have a rental property in the UK and are PR in your new country, your buildings insurance may not be valid. I have been with Insure in the UK for 2 years and just found out that had I claimed it would not be valid as I'm a non-resident of the UK. This only came about as I didn't get my renewal reminder due to Insure's error, so had to do a fresh quote, they asked me if I was a UK resident and I realised I'm not now, then the light went on and I realised that I am PR of Australia! Just did a quick search as I had to be covered ASAP and only found one company that does it, and it cost £878!!!! I quickly bought the policy, but can't believe that I have potentially been uncovered for 2 years!! I am still not covered as I have to sign a subsidence form and send it back, please God don't let anything major happen in that time! Like · Quote Link to comment Share on other sites More sharing options...
Guest Jamjar Posted May 11, 2012 Report Share Posted May 11, 2012 I have no idea why being resident or not in the UK should make a diff to a landlord policy. I think its just another way of charging higher premiums. To be honest I dont remember residency being a question when I completed the info for a quote. Quote Link to comment Share on other sites More sharing options...
Brit Girl Posted January 11, 2015 Report Share Posted January 11, 2015 Hi Liz can you tell me the name of your new company you went with re landlord's household insurance in the end as i'm in the same boat! Cheers Brit Girl Quote Link to comment Share on other sites More sharing options...
Druid Posted January 11, 2015 Report Share Posted January 11, 2015 We got landlords insurance through the real estate agent who are managing our property, no problem there. Quote Link to comment Share on other sites More sharing options...
marcozambini Posted January 11, 2015 Report Share Posted January 11, 2015 I'd be interested in knowing more about this. We have 2 properties in the uk and will be non resident landlords when we come to Perth in March Quote Link to comment Share on other sites More sharing options...
elfie Posted January 11, 2015 Report Share Posted January 11, 2015 (edited) Hi we are non resident landlords in the UK. We thought there would be a problem but no our original landlords insurance with CIA it just rolled over nicely. They haev our Aussie address plus email. Have to pay the policy in full when it needs renewing no monthly direct debit. Our insurance is via CIA underwriter is Towergate. Good prices they email reminders when policies are due for renewal. Highly recommend. We have been here nearly 3 years all good so far. We also have one property empty and on the market for sale. This also has not been a problem I just sent them the link on Zoopla so they could view it was in good condition plus garage and house alarmed etc and they were happy with that. Informed my next door neighbour had keys plus my mother and father in law and it was inspected on a weekly basis - which it is The difference in price for empty property and if it was tenanted peanuts. Edited January 11, 2015 by elfie Quote Link to comment Share on other sites More sharing options...
Liz Posted January 12, 2015 Author Report Share Posted January 12, 2015 Hi Liz can you tell me the name of your new company you went with re landlord's household insurance in the end as i'm in the same boat! Cheers Brit Girl Hi Brit Girl, Ignore the Insure mentioned in my original post, the original insurance was with someone else, the non resident landlords insurance was with http://www.intasure.com Quote Link to comment Share on other sites More sharing options...
Liz Posted January 12, 2015 Author Report Share Posted January 12, 2015 My insurer had our Aus address, but they did not tell me that I wasn't covered, I guess they presumed we still had UK residence status. Quote Link to comment Share on other sites More sharing options...
marcozambini Posted January 12, 2015 Report Share Posted January 12, 2015 Hi we are non resident landlords in the UK. We thought there would be a problem but no our original landlords insurance with CIA it just rolled over nicely. They haev our Aussie address plus email. Have to pay the policy in full when it needs renewing no monthly direct debit. Our insurance is via CIA underwriter is Towergate. Good prices they email reminders when policies are due for renewal. Highly recommend. We have been here nearly 3 years all good so far. We also have one property empty and on the market for sale. This also has not been a problem I just sent them the link on Zoopla so they could view it was in good condition plus garage and house alarmed etc and they were happy with that. Informed my next door neighbour had keys plus my mother and father in law and it was inspected on a weekly basis - which it is The difference in price for empty property and if it was tenanted peanuts. @elfie are you sure that's buildings insurance? Sounds like contents insurance Quote Link to comment Share on other sites More sharing options...
elfie Posted January 12, 2015 Report Share Posted January 12, 2015 @elfie are you sure that's buildings insurance? Sounds like contents insurance In reply no offense meant We are fairly experienced landlords in the UK for many years with a few properties. Thank you for pointing out but we well aware of the difference between landlords building insurance and contents cover. Content cover apart from fixture and fittings ie : Kitchen units bathroom fittings white goods - if any are tenants responsibility - this should also be stipulated within the rental agreement. If you do have any doubts on your policies please check with your insurers. Quote Link to comment Share on other sites More sharing options...
elfie Posted January 12, 2015 Report Share Posted January 12, 2015 Another thing regarding renting a property - if your property is mortgaged and not a buy to let you need permission from your lender to let. There in the past have been many posts on PP from people stating they have not sought lenders permission to let. This is a breach of your mortgage agreement. Which many have ignored. Quote Link to comment Share on other sites More sharing options...
Liz Posted January 13, 2015 Author Report Share Posted January 13, 2015 In reply no offense meantWe are fairly experienced landlords in the UK for many years with a few properties. Thank you for pointing out but we well aware of the difference between landlords building insurance and contents cover. Content cover apart from fixture and fittings ie : Kitchen units bathroom fittings white goods - if any are tenants responsibility - this should also be stipulated within the rental agreement. If you do have any doubts on your policies please check with your insurers. My buildings insurance went up when the property was empty! Any excuse to get your money! Quote Link to comment Share on other sites More sharing options...
elfie Posted January 13, 2015 Report Share Posted January 13, 2015 My buildings insurance went up when the property was empty! Any excuse to get your money! Hi Liz it did go up not significantly about £30 if I remember rightly. Again insurance quotes are calculated in area crime stats claim history ect. Its true they just want your money. Quote Link to comment Share on other sites More sharing options...
Liz Posted January 13, 2015 Author Report Share Posted January 13, 2015 Hi Liz it did go up not significantly about £30 if I remember rightly. Again insurance quotes are calculated in area crime stats claim history ect. Its true they just want your money. They robbed me of £80! Quote Link to comment Share on other sites More sharing options...
elfie Posted January 13, 2015 Report Share Posted January 13, 2015 They robbed me of £80! how very dare they Quote Link to comment Share on other sites More sharing options...
marcozambini Posted January 13, 2015 Report Share Posted January 13, 2015 @elfie Sorry I didn't intend any offence when I asked about buildings and contents insurance. Thanks for the info, I'm going to look into it this week Quote Link to comment Share on other sites More sharing options...
DangerousDave Posted January 13, 2015 Report Share Posted January 13, 2015 Another thing regarding renting a property - if your property is mortgaged and not a buy to let you need permission from your lender to let. There in the past have been many posts on PP from people stating they have not sought lenders permission to let. This is a breach of your mortgage agreement. Which many have ignored. I've just got consent to let from my mortgage company today as we have found a tenant for our house. Yippee. It was fairly painless, I moved onto a new cheaper fixed term rate as well. They charge an annual admin fee for the privilege and will review in 3 years. I need to look into landlord insurance next. Quote Link to comment Share on other sites More sharing options...
marcozambini Posted January 13, 2015 Report Share Posted January 13, 2015 That's good news. When I told my mortgage company they told me I had to change to a buy to let mortgage which was at a ridiculous rate. Who's your mortgage with Dave? Quote Link to comment Share on other sites More sharing options...
DangerousDave Posted January 13, 2015 Report Share Posted January 13, 2015 That's good news. When I told my mortgage company they told me I had to change to a buy to let mortgage which was at a ridiculous rate. Who's your mortgage with Dave? Seems a bit harsh. I'm with the mortgage works. Quote Link to comment Share on other sites More sharing options...
marcozambini Posted January 14, 2015 Report Share Posted January 14, 2015 I'm worried I've filled in my Non-Resident Landlord Tax form wrong. It asked for gross income from rentals and I wrote what I receive in rent per year, but should I have put the figure I receive after mortgage payments come out? Any help would be really appreciated Cheers Quote Link to comment Share on other sites More sharing options...
Happy little Vegemite Posted January 14, 2015 Report Share Posted January 14, 2015 I can't even remember what I put down but I wouldn't worry about it too much, I think the form just serves to allow the estate agent to not withhold tax from your rent, which they would otherwise have to do. FWIW, we are with nationwide and it was a doddle changing our mortgage (once I got around to remembering to do it!), they slap an extra 1% on the interest rate though if you're letting your house for more than 6 months. Quote Link to comment Share on other sites More sharing options...
marcozambini Posted January 14, 2015 Report Share Posted January 14, 2015 Thanks Happy. So how do you pay tax then? Do you have to do a self assessment each year? Quote Link to comment Share on other sites More sharing options...
elfie Posted January 14, 2015 Report Share Posted January 14, 2015 Yes a self assessment needs doing annually Quote Link to comment Share on other sites More sharing options...
elfie Posted January 14, 2015 Report Share Posted January 14, 2015 No you did right gross income is your total rental income. You then deduct any repairs building insurance annual gas safety cert bi annual electric saftey cert - not a requirement - annual gas /service policy if have one rental agent fee ect Quote Link to comment Share on other sites More sharing options...
elfie Posted January 14, 2015 Report Share Posted January 14, 2015 If your not aware you need to declare UK rental income on your Australian tax return Quote Link to comment Share on other sites More sharing options...
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