Q&A

We don't have insurance: is it too late to get?

Q We did not take out mortgage repayment insurance when we took out the mortgage (though we were offered it by the bank). Is it too late now?

ANo and you're not the only ones thinking about what will happen to those hefty mortgage repayments if one or both of you lose your jobs. Unsurprisingly insurance brokers are seeing an increase in interest in this type of insurance. It's not too late to get repayment insurance but be sure to read the small print very carefully.

If you know your job is already under threat of redundancy then it is too late. For example, a repayment protection policy available through insure.ie excludes you for 90 days if as a new borrower you have impending knowledge of, or are made, redundant. That exclusion goes up to 180 days for existing borrowers. Most policies require you to be in continuous employment for at least six months and depending on your type of employment (i.e., construction related) you could find insurers are reluctant to take you on. You won't get a repayment insurance payout if you plan to accept voluntary redundancy. Contact a mortgage broker and shop around for the best price but don't go on price alone, look at what you are getting for your money.

Do I need energy cert for Belfast house?

QI own an investment property in Belfast (an apartment). I know landlords in the Republic have to get a Building Energy Rating (BER) after January 1st, but do I? Is it the same in Northern Ireland? Do you think tenants care about this sort of thing one way or another?

AThe UK version of our BER is called the Energy Performance Certificate (EPC) and it came into force in Britain on October 1st, with Northern Ireland having the slightly later deadline of December 30th, 2008. From that date, as a Belfast landlord you will have to provide an EPC to new prospective tenants, but it does not apply to existing tenants, even if they are renewing their tenancy. An EPC from a qualified assessor should cost you around €120 and last 10 years. So if your apartment is now let, then you don't have to get it assessed until the existing tenant moves out and you have to draw up a new lease.

A new EPC is not required with each let. It's difficult to know how much importance renters (or for that matter buyers) will place on these energy certificates, at least initially, though with rising gas and electricity bills, it's something tenants are becoming increasingly savvy about.

Remember, renters have a great deal of choice these days, so it's in your interest to take steps to ensure as good an energy rating as possible.

Can you tell us how much house sold for?

Q I see that you are putting private treaty sales results in the paper, noting the fact that the house is sold and what the asking price was. But how do I find out how much the house actually sold for?

APut simply you can't. Regular readers of Property will know that this year we highlighted the difficulty in getting true sales prices - not the asking price - from some agents. We noted some cases where incorrect (and inflated prices) were supplied to us. Agents, of course, are under no obligation to give any price at all but until we can be absolutely certain that we are being supplied with the actual contract price, then all we can report is the asking price. Until there is an official database of house sales, as there is in some other countries, then this is likely to continue to be the case.

Your questions

Send your queries to Property questions, The Irish Times, The Irish Times Building, 24-28 Tara Street, Dublin 2 or email propertyquestions@irish-times.ie. Unfortunately it is not possible to respond to all questions. The above is a representative sample of queries received. This column is a readers' service and is not intended to replace professional advice. No individual correspondence will be entered into.