Search
  • tayla166

Did you know you can protect yourself from the purchase of a property falling through?

Updated: Feb 16


A number of unexpected things can happen during the process of purchasing a new residential property that could cause the transaction to fail beyond the purchasers control. In these circumstances the purchaser may have already incurred considerable out-of-pocket expenses on mortgage arrangement fees, survery fees, and/or solicitor's fees that cannot be recovered.


Fortunately, there is a comprehensive and affordable Home Buyers Protection Insurance which covers against any losses suffered when property purchases aren’t completed through no fault of your own.


You can choose between 3 levels of cover:

Bronze - Conveyancing Fees – up to £750, Survey and Valuation Fees – up to £500, Mortgage and Lender Fees – up to £250 for a cover Period of 180 Days.

Silver = Conveyancing Fees – up to £1,000, Survey and Valuation Fees – up to £750, Mortgage and Lender Fees – up to £500 for a cover Period of 180 Days.

Gold - Conveyancing Fees – up to £1,250, Survey and Valuation Fees – up to £1,000, Mortgage and Lender Fees – up to £750 for a cover Period of 180 Days.


Notes to remember

Conveyancing must be carried out by a solicitor or licensed conveyancer. Cover is valid for 180 days from acceptance of the offer or until you make a claim, cancel the policy or complete the property purchase. The policy doesn’t cover you if you withdraw the offer of sale for reasons not included in the policy schedule; you can’t just change your mind, for example. Must purchase this policy within 7 days of receiving written acceptance.


0 views0 comments

Oncover Insurance Services Limited is authorised and regulated by the Financial Conduct Authority (FCA).  Our FCA Register number is 306045. The FCA's register can be accessed through www.fca.org.uk/register. We are covered by the Financial Ombudsman Service (FOS).  See their website https://www.financial-ombudsman.org.uk/ for further information. Registered in England & Wales under Company no. 04036567. Registered address: 89c College Place London NW1 0DR.