We all hope for a stress-free move but unfortunately not all property purchases go completely to plan. To put your mind at ease, there is protection you can put in place to assist you financially, should you be prevented from continuing with your purchase.
What does it cost?A one off payment of £79.50
How much cover does it provide?
Around £1500 of cover (£750 conveyancing charges, £500 survey/valuation fees and £250 towards mortgage/lender fees)
What will home buyer’s insurance protect me against?
The property being withdrawn from sale
Having to withdraw from the purchase due to unexpected illness
You or your purchaser being made redundant
You or your purchaser passing away
Being ‘gazumped’ by an offer of £1000 or more
Insistence from the mortgage lender of rectification work that costs more than 10% of the initial sum provided and accepted
The property being harmed before the sale is full and rectification work that costs more than 10% of the initial sum provided and accepted
How do I take out Home buyer’s insurance?
Home buyer’s insurance is very simple to take out. Just come and see us at The Mortgage Hut where we can deal with your application with a quick and easy one page form to get you protected.