The House Projects Thread

[Swervin_Mervin]

Every day's a school day....

"Sorry, we can't offer home insurance as your home was originally built in 1800."

"Why?"

"Don't know".

"What year can you insure houses from?"

"1801".....

We had exactly the same problem. Three suggestions:
- Speak to @Holley on here
- Try looking for High Net Worth home insurance, because the insurers tend to be less 'computer says no' - we ended up using HomeProtect
- Try the Meerkat for non-standard homes: https://www.comparethemarket.com/home-i ... -standard/

I didn't know I was high net worth <looks around in disappointment>

[Rich B]

Every day's a school day....

"Sorry, we can't offer home insurance as your home was originally built in 1800."

"Why?"

"Don't know".

"What year can you insure houses from?"

"1801".....

We had exactly the same problem. Three suggestions:
- Speak to @Holley on here
- Try looking for High Net Worth home insurance, because the insurers tend to be less 'computer says no' - we ended up using HomeProtect
- Try the Meerkat for non-standard homes: https://www.comparethemarket.com/home-i ... -standard/

I didn't know I was high net worth <looks around in disappointment>

what do they call high worth? South of Watford Gap?

[Jobbo]

Having a Coutts account closed by the bank?

[Ascender]

Thanks @Jobbo, will have a look today.

@GG. - No, the schedule and documents I've seen so far state "approx 1800" so I'm going to talk to the solicitor today and have a proper read of all the title deeds documentation this morning.

[Swervin_Mervin]

Just to add - we've been with Home Protect now for 12 years and can't fault them. Never had to claim mind, but they take a very sensible approach when it comes to underpinning that most insurers won't touch with a barge pole. Our premiums have always been fairly reasonable with them.

[GG.]

We had exactly the same problem. Three suggestions:
- Speak to @Holley on here
- Try looking for High Net Worth home insurance, because the insurers tend to be less 'computer says no' - we ended up using HomeProtect
- Try the Meerkat for non-standard homes: https://www.comparethemarket.com/home-i ... -standard/

I didn't know I was high net worth <looks around in disappointment>

what do they call high worth? South of Watford Gap?

Depends which test you are looking at but the official HNW exemption for investing and various other regulatory requirements (not sure if it applies to home insurance but it may do) is a salary of over £170k p.a. (used to be 100k) or net assets of £430k. So neither anything like what you would consider a true "HNW" individual - the first is salary and not wealth (so lots of asset poor HENRYs will drop into that) and I imagine half the country's pensioners satisfty the actual net assets limb.

[Mito Man]

Hmm can see why they made a UHNW category too

[GG.]

It is helpful in some respects though - when I was taking out finance on the 911, as I fitted into that category they basically don't need to worry about whether a regulator thinks I can afford the loan, only their own risk analysis.

Although somewhat of a double edged sword as loans above a certain threshold (I can't remember what) no longer fall within certain consumer protection legislation either.

[Rich B]

I didn't know I was high net worth <looks around in disappointment>

what do they call high worth? South of Watford Gap?

Depends which test you are looking at but the official HNW exemption for investing and various other regulatory requirements (not sure if it applies to home insurance but it may do) is a salary of over £170k p.a. (used to be 100k) or net assets of £430k. So neither anything like what you would consider a true "HNW" individual - the first is salary and not wealth (so lots of asset poor HENRYs will drop into that) and I imagine half the country's pensioners satisfty the actual net assets limb.

yeah, I obviously (sadly) have Very High Outgoings too...

[240PP]

Isn’t net worth just assets minus liabilities?

[GG.]

Yes - but the definition of "High Net Worth Individual" often takes into account income as well as net assets.

In truth, a real "High Net Worth" individual as we would think of them is a combination of the two. Lots of elderly people have enormous net assets as they bought a house in the South East 50 years ago but effectively live in it until it rots and they die as they are penniless from an income perspective.

Why you would choose to do that rather than downsize and release equity beats me. There is an old guy on our street that lives alone in a dilapidated house with £1,000,000 - why not move out, live somewhere you can maintain and have cash in the bank to look after yourself.

[Ascender]

Somehow in the 220 years the new house has been standing, the local council has not registered it with the Royal Mail to go on their postcode database.

That'll be £120 please.

[Jobbo]

Somehow in the 220 years the new house has been standing, the local council has not registered it with the Royal Mail to go on their postcode database.

That'll be £120 please.

That's bizarre. Royal Mail didn't give us any money back when they randomly changed our business postcode, meaning our letterhead etc were all wrong, but they clearly manage to do things of their own volition rather than asking customers to pay £120 for something which is a statutory duty for them.

[Ascender]

It's madness, but as I've found, this whole thing is just a succession of people lining up to take their cut. Its the council I need to pay in this instance although my email from Royal Mail mentioned an admin fee

Helpfully the Royal Mail reply was one of those where there's no way to actually enter into dialogue with them, so its closed from their point of view.

[Mito Man]

I’ve registered a new address with Royal Mail a few years ago, it was just an online form and don’t recall any fees.

Presume if there’s no address with the council either then no council tax

[Ascender]

I’ve registered a new address with Royal Mail a few years ago, it was just an online form and don’t recall any fees.

Presume if there’s no address with the council either then no council tax

That has crossed my mind today....

[mik]

Home Alone house for sale.

Lots of (Mercuns?) complaining on twitter that they’ve not kept the interior as it was for the film (although apparently most of it was filmed on a set, it was modelled on the actual house interior).

I feel Kevin could have done something with the half(?) basketball court.

More than 9000sq.ft - that's a big place!

https://www.zillow.com/homedetails/671- ... 0197_zpid/

[DeskJockey]

That's a substantial house (and price).

[Jobbo]

More than 9000sq.ft - that's a big place!

Blimey, that's probably the same size as the set

[integrale_evo]

An American house actually built with brick!

Still only felt shingles on the roof though