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Who Needs Failed Conveyancing Insurance?

MoveSafe Abortive Insurance

Most conveyancing transactions will go ahead without any problems with some straightforward completions taking place within a matter of weeks often being achieved. There are weekly news stories of difficulties in the housing market, for first time buyers struggling to get on the housing ladder, to those being priced out of London. It can be a bit of a minefield when trying to buy or sell a home.

But what happens if you do have conveyancing problems and what can you do to protect yourself?

Delays with conveyancing can be extremely frustrating for all parties but that frustration can be intensely annoying and, not to forget expensive if those problems cause a conveyancing transaction to fall through.

It may be more likely that problems will occur where there is a long chain and sometime you will have no control over any obstacles which are elsewhere in the chain. It follows that you have much more control over conveyancing problems with your own sale/purchase.

Some failures on transactions may well turn out to be a breach of contract between you and the Solicitor acting for you. An innocent party may be entitled to damages for loss as per Special Condition 7.2 of the Standard Conditions of Sale (5th Edition).

But as a conveyancer, can you afford to offer your residential property clients a full No-Transaction, No-Fee service?

As a conveyancer you have to remain competitive and may often have to write-off your charges if a transaction does not go ahead but with your client still having to pay for any wasted survey and searches. So both conveyancer and the purchaser / seller lose out financially.

Our MoveSafe Abortive Insurance, designed to take the strain should your purchase fall through, is available to both residential sellers and purchasers and applies to all Freehold and Leasehold transactions.

The MoveSafe Abortive Insurance policy provides protection against loss of legal and survey fees should the sale or purchase not go through. Moving house is stressful enough without the threat of wasted expenditure.

Can you and your client’s afford not to have Abortive Conveyancing Insurance in place? If not, take a look here and get in touch with us to discuss our MoveSafe Abortive Insurance product.

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