I had bought a house in 2001 by taking a home loan from PNB

by kvmohanan » Tue Jun 08, 2010 09:18 am

I had bought a house in 2001 by taking a home loan from PNB for 13 years. Later it was transfered to ICICI as the interest % was more (13%) in PNB and 9.25% only in ICICI. But now I am being charged 14.5% interest. The EMI is still going on

My whole house along with all my personnal belonging got burnt in a devastating fire which occured in the last week of April,10.I am being told that the Bank insures their property;so I can make a claim for renovation. Is it true? please clarify.

Total Comments: 3

Posted: Tue Jun 08, 2010 11:57 am Post Subject:

I'm sorry but I'm confused somewhat by your post.

If you purchased the home, you should've also purchased a home owners policy...lenders would require this, and you most likely paid your first year premium at closing.

Have you filed a claim with your HO carrier? If not why not? This has been two months...

Posted: Tue Jun 08, 2010 12:17 pm Post Subject:

I have filed a claim and ICICI Lombard has appointed a surveyor also. But at the same time ICICI Bank is saying that the house is not insured. I do not remember paying any premium. Pase let me know whether it is the bank or borrower who does the inssurance.

Posted: Tue Jun 08, 2010 12:23 pm Post Subject:

Borrower...look at your loan closing papers, I cannot imagine ANY lender allowing a property to close without a HO policy.

I have filed a claim and ICICI Lombard

Is this the lender?

has appointed a surveyor also

a surveyor? for what?

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