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Is it possible to insure against loses due to inability to complete after exchange?

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Comments

  • marksoton
    marksoton Posts: 17,516 Forumite
    6am wrote: »

    Buy the way it is an interesting question how events will play out in the event the house burns down between exchange and completion. The mortgage lender will probably not release funds, the completion will fall through, the buyer will lose deposit + will have a legal case to deal with.The buyer is not going to rebuild the house because they did not complete and it is not their house (or whats left of it). How much the building insurance will pay in this case?

    If you choose the right product you wouldn't have a problem.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    csgohan4 wrote: »
    Even life insurance becomes difficult for whole life insurance as it is too expensive in the long term.
    As the risk of death during the policy term approaches 100%, you mean?
  • csgohan4
    csgohan4 Posts: 10,607 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    AdrianC wrote: »
    As the risk of death during the policy term approaches 100%, you mean?



    Something like that.


    Whole life insurance is financially prohibitive, while life assurance for x amount of years is cheaper. But potentially you could outlive the life assurance.
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
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