Insurance Certificate When Refinancing Home Loan

star-ggg on 02/12/2024 - 17:39

For refinancing, I'm wondering how people handle a request from the new bank to have them as the interested party on the building insurance certificate before settlement? What if the house burns down before settlement occurs- insurance should be paying out my current bank?

Financial Home Insurance Home Loan Insurance Loan

Comments

  • donga100 on 02/12/2024 - 18:43
    +3

    I have Budget Direct for home and contents and can just log in and update the interested party and generate a new pdf.

    • srsparky on 02/12/2024 - 19:16
      +2

      Same for RAC here in WA.

  • The Wololo Wombat on 02/12/2024 - 20:22
    +1

    Don't worry about it. Just do what the bank wants.

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