Comment on UK Budget
"The Chancellor Phillip Hammond began his speech this afternoon by discussing the importance of being able to build homes in the UK that will make good on the government's promise to future generations and make home ownership 'a reality' for future generations - but what about the growing number of existing properties in the UK that are currently unoccupied but perfectly capable of providing accommodation to families?
"At CoverBuilder, we've witnessed an 800 per cent increase in the number of unoccupied home insurance policies we have written during the past year. The waiving of Stamp Duty Tax is great news for first time buyers, and Mr. Hammond's announcement that local authorities will soon be able to charge a 100 per cent Council Tax premium to all owners is also very positive.
"Indeed, it is likely many owners of more than one property will find any additional Council Tax charge to be nothing more than a minor inconvenience. It will therefore be interesting to see how the number of empty homes in the UK compares this time next year: and to see whether the government takes even more drastic action".
About CoverBuilder
CoverBuilder was formed in April 2014 as a subsidiary of Source Insurance Ltd. Source has been successfully serving the intermediary market (financial advisers, mortgage brokers and other advisory services) as a leading provider of insurance services for 24 years.
CoverBuilder launched by specialising in protecting property buyers against losing money if their property purchase fell through. After helping many buyers over the course of the past two years, it was time for a new challenge and a new product.
In 2017 we launched our home insurance service, targeting the growing number of people out there who have issues finding cover, or feel they are being unfairly penalised.
CoverBuilder works with major UK insurers to provide a choice of policies to our customers. Think of us as a form of comparison website, where we negotiate deals and offer you a policy to match your needs.
The next part of our story is going to be really exciting. By fully utilising the power of mobile technology and simplifying the insurance buying process, our customers will have a revolutionary way to protect the areas of their life that are important to them.
CoverBuilder is a trading style of Source Insurance Limited which is authorised and regulated by the Financial Conduct Authority.
