Making an offer on a house comes with all sorts of expenses, including surveyors' fees and lenders fees, but what happens if the purchase falls through?
The fees aren't reimbursed, which leaves you out of pocket and out of a home. However, you can avoid the financial loss if you have Home Buyers Protection Insurance. Dwela's partner (Company) offers comprehensive and affordable Home Buyers Protection Insurance, this covers you against any losses suffered when property purchases aren't completed through no fault of your own.
Home Buyers Protection Insurance covers
Vendor withdrawing the house from the market for reasons beyond your control Vendor not legally entitled to sell the property Property in England and Wales You, or a person you are purchasing the property with, being given a notice of redundancy A local authority search revealing that the property is subject to a compulsory purchase order Your death, or the death of a person you are purchasing the property with, as a result of bodily injury occurring during the period of insurance.
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 of your offer..