Home Buyers Protection Insurance

Whilst at Stirling Mortgages we always aim to make it as stress free as possible, purchasing a home is one of life's more stressful activities. The process is expensive, fraught with difficulties and if anything goes wrong, the buyer always seems to end up picking up the bill.

However, this has changed, we have access to a new legal expenses product, the Home Buyers Protection Policy - the first of its type in the UK .

For a low one off premium, home buyers will have some come back against their professional advisers if they are negligent. For example, against the solicitor who misses vital information when conducting a local authority search, valuers who overlook structural defects, builders who will not stand by a warranty they have given, removal firms that do a bodge job and even utility companies who fail to connect vital services on the moving day. You will also be insured against unexpected actions taken by the vendor of the property.

The Policy, which must be taken out by a buyer prior to contracts being exchanged , covers the purchase of a main residence anywhere in the UK . The policy lasts for 12 months and will allow you to pursue claims for damages up to a maximum value of £25,000 if your property purchase does not proceed smoothly. There is a policy excess of £100. 

The Home Buyers Protection Policy will enable claims to be made against:

• the vendor of the property including taking legal proceedings to obtain vacant possession in the event of continued occupation by the vendor
• the mortgage lender
• the property valuer acting on the purchaser's behalf or on behalf of the mortgage lender
• the solicitor or licensed conveyancer acting for the purchaser
• a builder providing a warranty on the home or any built in domestic appliance
• the public utility responsible for the connection of electricity, gas, water, sewage or telephone services
• the removal firm contracted to move household possessions

If you are interested in protecting yourself during the purchase of your property, you can speak with one of our friendly staff on:

0845 257 2492

Or request a no obligation online quote

• Mortgage Protection Insurance
• Home Buyers Protection Insurance
• HM Forces Insurance
• Life Insurance
• Buildings and Contents Insurance
• Critical Illness Insurance
• Income Protection Insurance
• Travel Insurance