Does house buyer's insurance exist??

crompea

I have just had an offer accepted on a house. It was previously on the market but the sale fell through. I'm a bit worried that our sale may fall through and have read that one in 3 sales do fall through.

I've heard that you can buy 'buyer's insurance' so if the sale falls through you are reimbursed for solicitors fees, mortgage arrangement fees and survey cost.

I asked my solicitor about this and he said the premium of the one he could offer would be £1500 (he called it wasted fee insurance) and told me to look for cheaper myself. I have googled this and there only seems to be one online, but I've never heard of them and wonder if anyone has used them? imdne.co.uk/home-buyers-protection-insurance The premium is just under £80 so a lot cheaper.

Has anyone bought this sort of insurance??!

Thank you.

R3D

Hiya, seen your post looking for advice on the same thing. Did you find and buy any insurance cover? I've seen imdne/home-buyers-protection-insurance/ and wondering if is ok or dodgy?!

Thanks.

brooklyn07

yes - I have taken it out.


A few friends also took it out when they bought their properties.


Got the confirmation and certificate via post and email.


It doesn't cover everything but it covers having to pull out in the event that you become seriously ill, if you are gazumped by £1,000 or more and if the seller pulls out through no fault of yours.

R3D

Thank you. I called the number on the website today and they confirmed there was no instant receipt which I think is bonkers in this internet age! He said it would arrive in the post so it's great to know someone else has used them and it's all ok. Thanks