Home Legal Direct’s Premium Buyer Protection Insurance explained

Home Buyers' Protection insurance

The ultimate peace of mind and protection against a seller driven cancellation, covering you for the following, for up to 180 days provided you purchase a residential property within England and Wales : 

• Conveyancing Fees and Search Costs up to £1500
• Mortgage Arrangement / Lender Fees up to £250
• Survey and Valuation Fees up to £750
• Mortgage Advisor Fees up to £200
• Alternative Accommodation and Storage costs up to £300

Your insurance will cover you for one of the following events if it causes your purchase to fall through:

• The property owner withdraws the house from the market for reasons beyond your control
• Gazumping protection - where the seller accepts an offer of at least £1000,00 more than your accepted offer
• You, or a person you are purchasing the property with, die or are made redundant involuntarily by an arms length employer
• Prior to release of funds, your mortgage lender requires rectification work to the property exceeding 10% of the purchase price accepted by the seller

Chancel insurance

If you are buying a property on land subject to chancel repair, you will be legally obliged to contribute towards repairs to the chancel. The best way to protected against any Chancel liability is to insure against it, rather than to search. You are covered for up to £500 000 although the likelihood of a claim to that value is remote. You will however not be covered if you conduct a Chancel search  before taking insurance, as you cannot insure for a known, pre-existing condition.

Search insurance

You can relax when paying for searches upfront. You will be covered as part of the Conveyancing Fee cover outlined above, for 6 months. You don't  to not have to worry if the seller pulls out or under certain conditions you have to cancel the transaction.

6 years file storage

Ever wondered where your title deeds are, stop wondering as you can obtain a copy of all relevant property documents from your conveyancer with our “File Storage Pledge” for up to 6 years.