Mortgagee sales are case by case.  In most cases we are unable to provide cover because of the circumstances surrounding the acquisition of the property.

The agreement for purchase under a mortgagee sale will frequently state that the property is being purchased on an “as is where is” basis, and will often specifically exclude chattels which many people would expect to be automatically “bought” as part of the home, such as permanently attached appliances, cabinetry, door handles etc.

We understand that many mortgagee sales are purchased without the property being inspected, and it is not until the new owner takes possession of the property that they fully understand the property purchased.
This sometimes means that the property could be uninhabitable as at possession.

So that said we will consider a mortgagee property for existing customers only (ie customers that have at least one other property already insured with us).  If you are an existing customer and would like us to consider a mortgagee sale property you have or are going to purchase you will need to provide us with the following information:

• The purchase date
• The settlement date
• The condition of the home
• whether the current/previous owner lives in the home (or if it is a rental, or vacant)
• Your intentions after settlement (eg immediately moving into the property, putting tenants in after minor renovations etc)
• Have the locks been changed, and if not when will they be changed.