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Chattels is one of those quaint old English words much loved by the legal profession, which in modern-day language means any of your moveable property or possessions, other than freehold land and buildings.
Here we take a look at Chattels and what might be classed as being a chattel, and how chattels relate to Contents Insurance, which you'll be pleased to know we can also help arrange!
Table of Contents:
So, as we mentioned above Chattels is an old fashioned word that the legal profession seem to take great delight in using, and simply means any of your personal moveable property or possessions, with the exception of buildings and freehold land.
Effectively, in legal terms, your chattels are your personal possessions and furniture.
You'll often find the term used when it comes to Will Writing, where the Testator (the person whose Will it is), refers to his chattels, which would typically be any items of personal jewellery, books, clothing, furniture and private motor cars.
Home Contents Insurance is an optional insurance available to cover your chattels and household items in the event of loss or damage, through theft, storm damage, fire or flood for example.
You can also protect against accidental damage or loss to household items, but this is only usually available at an extra cost. More valuable items such as expensive jewellery to the value of £1500 or more would typically be insured on a separate specified items basis, to which the insurer may request that certain conditions be met, such as the installation of a burglar alarm and a safe.
When it comes to Contents Insurance you should work through your home on a room by room basis and calculate how much it might cost you to replace all your chattels. You might be quite surprised at how valuable your possessions are.
There are other things to bear in mind when it comes to arranging your Contents Insurance for your chattels, such as the terms and conditions of a policy and what it covers, limitations and exclusions of the policy, how much the monthly premium may be, any policy excesses, discounts, no claims bonuses, and additional conditions (such as having a burglar alarm fitted).
We'd be more than happy to assist with arranging Home Contents Insurance for your chattels, either as part of a mortgage we arrange for you, or on a separate basis if you are seeking Contents Insurance alone. So, why not talk to one of our specialist mortgage advisors who would be only too happy to talk to you to see if we can assist. Call us on Freephone 08000 282 281 between 8am and 10pm - seven days a week, or enquire online right now, we'd love to hear from you!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
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