Moving house rarely runs smoothly and is stressful enough without the financial worry of the purchase falling through and any loss of money you have paid out.
You can encounter many disruptions when buying a home, which can quickly unravel your plans and in a number of cases bring the whole process to an unexpected end. Home Buyer Protection provides cover for you or your client's conveyancing costs in the case of an aborted transaction. Costs covered include legal fees, lenders fees, survey fees, searches and disbursements.
However, it is not just about price, we only offer conveyancing specialists who have a proven track record of service and who work to our agreed SLA's.
Working directly with Estate Agents, Intermediaries and Developers, simply register your details and we'll email your username and password the same day.
What Does Home Buyers Protection Protect against:
Movin Legal now provides our standard cover Homebuyers Protection* or (Residential Abortive Transaction Protection) to give its official title.
Moving Home is one of the most stressful things we can do our lifetime. But for many that stress alone is enough to stay put. However, sometimes necessity dictates otherwise, for example, we may need to move for our jobs, or we need a larger house for our growing family, or we simply wish to downsize to a smaller property as we get older.
However, there are perils, according to research conducted in 2015 over 36% of UK home sales fell through before completion, so why is this figure so high?
More than one in three house sales in the second quarter of 2015 in the UK failed to reach completion, according to recent data, the most common reason simply being a change of mind by the buyer or seller.
As the property market becomes more buoyant and an increasing number of properties become available, both sides involved sometimes feel that they have options available to them if the sale is not progressing as quickly or as well as they had hoped for.
Buyers are less likely to move forward with a purchase if the survey brings up surprises, and sellers are less willing to drop the price in a re-negotiation, confident that they will be able to find another buyer relatively easily.
Let us consider the costs of buying a home:
The average cost of moving in 2014 - and the percentage increase compared to 2004:
- Stamp duty, £3,620, 87%
- Estate agent, £5,214, 61%
- Surveyors, £607, 51%
- Conveyancing, £1,419, 37%
- Removals, £1,034, 21%
- Total, £11,894, 59%
With Movin Legal, some of these costs can be mitigated by our unique home buyers protection cover, although stamp duty is not covered simply because that is paid on completion of the house sale. Our protection cover can help mitigate some of these costs such as:
- Conveyancing costs in the case of aborted transactions
- Legal Fees
- Lenders Fees
- Survey Fees
- Searches and Disbursement Fees
Our Homebuyers Protection Scheme also covers:
- Gazumping by an offer of £1,000 or more
- The property being withdrawn from sale
- Having to withdraw the property as a result of unforeseen illness
- One of the parties dying, being made redundant or being given notice of relocation
- Damage to the property, therefore, rectification work exceeding 10% of the original sum assured
- The mortgage lender insists on the rectification work exceeding 10% of the original sum offered and accepted
Our cover is valid for six months
Maximum Limits covered by this policy • conveyancing fees (including fees for local authority searches) • mortgage arrangement fees • survey fees and valuation fees
Up to a combined (aggregate) maximum payment of £600.00
To find out more about this invaluable cover for your clients, please contact us on 0330 0249123 or email [email protected] adding 'Homebuyers Protection ' in the subject field.
* Enhanced cover is also available please contact us for further details.
Simple Online Quote and Instruction
Powerful but simple to use software, you can compare, instruct and track online. You can choose your law firm by mortgage lender, location, price and service rating
Real Time All Inclusive & Guaranteed Quotes
The price you are quoted is the price your client will pay. No hidden charges, no additions to your client’s bill that they weren’t expecting allowing them to effectively budget their conveyancing costs
Online Case Tracking
With regular updates on all your clients cases, you will have up-to-date status reports available, 24 hours a day, allowing you to remain in complete control.
Protection For Your Clients - Free Home Buyer Protection
Providing cover for conveyancing fees, mortgage arrangement fees, survey fees and valuation fees up to a combined (aggregate) maximum payment of £600.00 should your clients property purchase fall through
Secure Document Upload
A facility allowing you to upload documents including certified ID, mortgage offers, fee agreements and proof of funds directly to the solicitor handling your clients case
Law Firm Ratings
Star ratings on all law firms based on your direct scoring at the end of each conveyancing completion
The ability to select a lender prior to generating a quote ensuring only law firms on that lenders panel will show in the quote comparison, saves intermediary time work and client disappointment
Our expert panel of solicitors offer high-quality services on a wide range of commercial property & business transactions offering sensible pricing and fixed fees with no hourly rates