Posted: 12/02/2014 at 15:08
Re the young lad who had just brought his first house.
Fortunately, unless he has spun a dodgy deal or was unable to get flood cover (unlikely since I don't think it was a well known flood area), mortgage companies wont hand over the cash until you've got what they consider adequate insurance in place. Something we've just been through as we had to send the policy paperwork over to our solicitor before they could complete the sale.
I just hope that in order to save some cash he didn't then cancel it once he got the keys.