How have you found the bank view when it comes to insurance ?
1: If the building forms only a small portion of the value of the property and contributes little income vs the land value and providing the income have you found the bank willing to forgo the right to insist on insurance
2: Where you cannot obtain replacement insurance like for commercial in Wellington have the banks been fussed on insurance.
3:Calculating Indemnity value what is your formula ?
I treat it Indemnity as what the building is worth ie Total Property worth less land value (land has been cleared otherwise deduct demolition cost) ...so could be very little
4: do the banks look at the mortgage value so the insurance covers this ? IE the insurance pays off the loan
Individual property and total group holdings ?
1: If the building forms only a small portion of the value of the property and contributes little income vs the land value and providing the income have you found the bank willing to forgo the right to insist on insurance
2: Where you cannot obtain replacement insurance like for commercial in Wellington have the banks been fussed on insurance.
3:Calculating Indemnity value what is your formula ?
I treat it Indemnity as what the building is worth ie Total Property worth less land value (land has been cleared otherwise deduct demolition cost) ...so could be very little
4: do the banks look at the mortgage value so the insurance covers this ? IE the insurance pays off the loan
Individual property and total group holdings ?
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