Protect your Property Transaction


According to ongoing research by Quick Move Now, there is still a high proportion of property sales that fail to complete. The figures show that 2015 saw a massive 1 in 4 transactions fall through, 9% of which can be attributed to ‘Gazumping,’ where the seller pulls out after receiving a higher offer. 

 PSG Financial Services provide a choice of Home Buyers Protection Services to help provide additional peace of mind to your client in the event that their transaction fails to complete (subject to the policy terms). With a choice of policies available, you can now offer a service that not only protects your clients’ interests but safeguards your fees if the sale falls through.



Home Buyers Protection Insurance

From just £56 including IPT, you can add Home Buyers Protection Insurance from PSG to your instructions and offer your clients a service that only protects their interests but also safeguards your fees in the event of a failed transaction*.

*Subject to Policy Terms.

 

What is covered?

The Home Buyers Protection Insurance Policy provides up to £1,500 cover for:

  • Conveyancing Fees (including fees for Local Authority Searches)
  • Mortgage arrangement fees
  • Survey fees and valuation fees

Cover is provided for loss of fees in the event of the property purchase failing to complete due to reasons such as:

  • Gazumping
  • Unforeseen illness
  • Involuntary unemployment
  • Mortgage lenders evaluation of the property being less than 90% of the sum offered
  • The Local Search highlights the property is subject to a compulsory purchase order

 

The Key Benefits

  • Searches can be instructed early, allowing you to investigate and resolve any issues in good time which could potentially speed up the completion process
  • Clients feel better protected and are more likely to use your services and recommend your firm to others
  • Client fees are reimbursed by insurers in the event of a failed transaction up to £1,500
  • Provides a unique selling point for your firm, helping you to market your services to potential new clients and introducers

 


 

Home Buyers and Home Sellers Protect Policy - Safe as Houses


From as little as £56 including IPT, you can add Home Buyers Protect – Safe as Houses from PSG to your instructions and help safeguard your fees whilst also providing additional peace of mind to your clients.

 

What is covered?

The policy, which is underwritten by Acasta Europe Limited is available in two formats, one for the buyer and one for the seller. Each provides a limit of indemnity of up to £1,500.00 covering conveyancing fees, legal fees and disbursements.

The buyer’s policy also covers:

  • Mortgage arrangement costs
  • Lender fees
  • Survey Fees
  • Valuation report costs
  • Homebuyer's survey fees

The buyer's policy will be triggered* if the transaction is aborted due to:

  • Gazumping
  • Mortgage lender valuation being less than 90% of the sum offered
  • Employers location not completing
  • Involuntary unemployment
  • Death, unforeseen illness or bodily injury
  • Adverse entry on searches (excluding flood)

*Subject to Policy Terms

 

To find out more or request sample policies contact us here

All Insurance products are provided by PSG Financial Services Limited which is authorised and regulated by the Financial Conduct Authority

 


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