HOME SELLERS & BUYERS PROTECTION

What is this type of Insurance?

Hombuyers -

Should the purchase of a property you are buying fall through, due to an insured event the policyholder will be reimbursed for costs incurred for conveyancing, mortgage fees, surveys and valuations.

✓ Costs if the property is withdrawn from sale by the vendor for reasons beyond your control;

✓ Costs where the vendor receives and accepts an offer which is at least £1,000 greater than the offer they have accepted from you;

✓ Costs where a local authority search highlights that the property is subject of a compulsory purchase order;

✓ Costs if the vendor is not legally entitled to sell you the property;

✓ Costs if you or the person purchasing the property with you, die, are made redundant or are relocated, and you are unable or unwilling to continue with the purchase of the property;

✓ Costs where the initial mortgage lender’s valuation is less than 90% of the sum you have offered for the property which has been accepted by the vendor;

✓ Costs were prior to the release of funds the mortgage lender insists on rectification work to the property and the cost exceeds 10% of the sum offered by you which has been accepted by the vendor;

✓ Costs if the mortgage lender applies retention on the loan which is more than 10% of the sum offered by you which has been accepted by the vendor; or

✓ Costs if the property is damaged during the period of cover and the cost of rectification work exceeds 10% of the property value

Homesellers -

Should the sale of a property you are selling fail, due to an insured event the policyholder will be reimbursed for costs incurred for conveyancing fees.

What is covered:

✓Conveyancing Fees of up to £1650.00 including VAT;

✓ Costs if the buyer has an adverse search on the property, which either restricts or is seriously detrimental to a successful transaction;

✓ Costs when the mortgage lender’s valuation of the property is less than 90% of the sum you have accepted;

✓ Costs, where there are structural defects to the property and the cost of rectification works, is more than 10% of the sum you have accepted;

✓ Costs in the event of the buyer’s death and any surviving partner being unable or unwilling to continue with the purchase;

✓ Costs in the event of the buyer being diagnosed with a terminal illness and being unable or unwilling to continue with the purchase;

✓ Costs in the event of the buyer being given notice of redundancy and is unable or unwilling to continue with the purchase;

✓ Costs in the event of the buyer’s employers’ relocation not completing

Our Promise

Working with us you will always get fast answers to any questions, exceptional customer service, bespoke cover and competitive pricing.