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Do I need to purchase fire insurance?

You will have to purchase fire insurance for the building and contents personally from an insurance company in Australia and provide a copy of the certificate with the Bank endorsed as the mortgagee.

 

 For strata properties or non-landed properties, you are to obtain the proof of renewal for the fire insurance policy from Body Corporates (Management Corporation) on a yearly basis for as long as the property is charged to the Bank.

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