Hi

Most people have gone ahead [from the earliest posts], It used to be that all policy schedules [copies] were supplied to all lenders re buildings insurance to make sure the cover was adequate and index linked. Most now don't! The insurance provider may note the interest of your lender but not necessarily contact them. I'm a broker and know this!! Brokers usually only deal with 2 or 3 providers as most insurance companies don't do landlords insurance

If you haven't got the equity its not really worthwhile contacting your lender!!

Tax situation, I covered this in an earlier post but all your reasonable expenses can be claimed [you can't claim for improvements], interest element of your mortgage, insurance, management fees etc plus wear and tear each year so if you do declare it your tax liability will be negligable!

Remember there are hundreds maybe thousands of people in your situation all doing the same thing!!

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