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Home Buyers Protection Insurance

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What is Home Buyers Protection Insurance? 

Homebuyers incur a number of expenses in connection with the purchase of a home.  If the sale does not proceed these costs are often lost. Home Buyers insurance pays out for those costs that are lost if a house sale collapses.  

 

What do we cover? 

Home buyer protection insurance provides cover when a sale collapses for the following reasons:  

  • The vendor/seller withdraws due to gazumping.  
  • The Homebuyer wants to pull out of the purchase because of an adverse legal search, 
  •  The property valuation is lower than expected 
  • The home has structural defects.  
  • The home buyer is made redundant or has a terminal illness  
  • The home buyer policy pays for the cost of: Surveyors or valuation fees, legal costs, legal searches, mortgage arrangement fees.

Points to consider 

The policy is only sold to the home buyer at the time of them making an offer to purchase the home. 

Buying a home is always a daunting prospect, costs can quickly mount up. First-time buyers in particular are on a tight budget. If the sale collapses through no fault of the buyer, it’s always disappointing, but even more so when hard-earned savings are lost on costs. The policy pays for these costs and means the buyer can afford the costs on another property. 

 

 

Why choose Financial & Legal? 

Financial and Legal is able to provide a range of products and covers to suit the needs of different customer groups. The policy could be offered via brokers, estate agents, conveyancers or conveyancing solicitors. 

“The service we receive is exceptional. Financial & Legal are always 100% committed to their clients, providing invaluable swift and professional service, going above and beyond to help. The way the team liaise with our clients is exceptional from start to finish; they deal with matters sensitively and diplomatically, which is vital at a time when clients are understandably vulnerable and have an ongoing legal case.”

Charlotte Roberts, Owner of Anglesey Insurance Services LTD

“We were looking for more than just an insurer. We wanted to work with professionals who understood our business and risks and who could see the bigger picture. With Financial and Legal we have a dedicated team, who listen to us and develop the products we need.”

True Solicitors

“Having been with a larger insurer we seemed to have become stagnant in waiting for decisions and also experienced a lack of innovation. The Financial and Legal team and their personal approach means we can now sell products with the confidence that we are providing our clients with maximum security and protection.”

Pabla and Pabla Solicitors

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