Lenders may insist that you take out this cover. It protects you and the lender in case the building falls down or is fundamentally damaged. Most lenders will offer this as part of the mortgage, but you are not required to take it from them. However, the lender may charge an administration fee of around £25 should you decide to take it via another channel.

Insurance against the cost of rebuilding a property from scratch following structural damage, for example by flood, fire or storm.

Most lenders will insist that you have this in place as a condition of your mortgage. It ensures that the costs of the building are met if it becomes badly damaged. It will be offered to you as part of the mortgage, but you are not obliged to take it from the lender.

Insurance protecting against loss to property caused by fire, some natural causes, vandalism, etc., depending upon the terms of the policy.