Home Buyers Protection Insurance
A Home Buyer’s Protection policy is there to protect your pocket against a few of the mistakes that can happen in the purchasing process and bring a little comfort to our clients moving house in today’s unpredictable market.
Exactly what does it protect against?
- Protection from “Gazumping” by an offer of ₤1,000 or more
- The property being withdrawn from sale
- Having to withdraw from the purchase due to unexpected illness
- You or your purchaser passing away, being made redundant, or provided notice of moving
- The mortgage lender insists on rectification work that costs more than 10% of the initial sum provided and accepted
- The property is harmed before the sale is full and the rectification work exceeds 10% of the original sum provided and accepted
What is the expense?
A flat cost of ₤ 79.50.
What does it supply?
- Around ₤1,500 of cover comprised of –
- ₤750 to conveyancing charges
- ₤500 to survey/valuation fees
- ₤250 towards mortgage/lenders fees
What do I need to do?
There is a basic one page form to complete which we then forward to the insurance provider, then they send all documents to you immediately. It really is that simple.
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