7th April 2022
RE: Our Insurance Requirements
This is just a short reminder of our requirements for property insurance for assets that are charged to the bank in support of your loan.
In addition to standard cover:
Where the property is Commercial and Leasehold and the Freeholder refuses to add the above clauses, confirmation of Alpha Bank’s interest is required.
Where the property is Residential and Leasehold, confirmation that policy includes an “Other Interest” clause is required.
You are requested to provide a copy of your insurance schedule annually to us; please email this through to your relationship manager or CreditUnit@alpha-bank.co.uk no later than one month after the new schedule is issued.
Should you have any questions please do not hesitate to contact me or your relationship manager.
Finally, I would like to thank you for your co-operation and continued support.
Joseph NeophitouGeneral Manager