Mortgage indemnity insurance provides the Society extra security to enable us, in certain cases, to lend above our normal limit for home loans which is 80% of the purchase price or valuation of the property, whichever is the lower. With this extra security we may consider a loan for up to 95% of the property's value - but we need to establish that you can afford to meet the monthly payments. This insurance is for our sole benefit. You will not be asked to pay a higher lending charge to cover the cost of arranging the policy. It will not, however, protect you if your property is subsequently taken into possession and sold for less than the amount you owe. You will remain liable to pay all sums owing including arrears, interest and our legal fees. If a claim is paid to us under this insurance, the insurer has the right to recover this amount from you.