The Best Insurance Money Can Buy!
Buying or building a new home? The process of securing a home can be a real headache, but Sun General is there to ensure that your challenges in securing a mortgage can be addressed by providing Mortgage Indemnity Insurance.
Should you enter into a mortgage arrangement and the property, being the subject of the mortgage is:
- Repossessed and sold by the Mortgagee
- Purchased by agreement with competent authority under the power of compulsory purchase at market value
- Ordered demolished or cleared
The Policy covers collateral security for repayment of the difference between the Mortgagee’s actual advance and its usual advance in respect of a loan to you.
Now you can use your Mortgage Indemnity Policy to secure up to 100% mortgage. Subjected to a closing order and you are unable to make the payment due to the mortgagee and the proceeds of the sales or compensation is less that the outstanding debt, this coverage will seek to provide the shortfall.