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Buying insurance?
SunnyCat
Posts: 153 Forumite
I've heard it is possible to insure yourself from a sale falling through. Is this for buyers and sellers? Is it worth it? At which point would you be getting it? (When an offer is accepted, later?)
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Comments
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https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/homebuyer-protection-insurance/
This? Yes it would have saved me money. I think this forum doesn’t like it though.0 -
The problem is they contain so many caveats. To draw up an agreement that was actually useful would mean waiting until the searches and enquiries had been done - by which time you are ready to exchange anyway...0
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Yes! Unfortunately it says you need to buy it before spending money... so it's a bit too late for me now.comedyseeker123 wrote: »https://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/homebuyer-protection-insurance/
This? Yes it would have saved me money. I think this forum doesn’t like it though.
Well, it actually says to you need to have it the insurance before the survey / searches etc. But we actually got to ready to exchange bit and the sale isn't proceeding (the chain fell through), so it would have been actually quite useful now!The problem is they contain so many caveats. To draw up an agreement that was actually useful would mean waiting until the searches and enquiries had been done - by which time you are ready to exchange anyway...0 -
In general, I wouldn't say any sort of insurance is worthwhile unless it's something which you couldn't actually afford to cover otherwise. Otherwise, it's not the money-saving approach because on average you'll be paying more (otherwise how do the insurers make a profit).0
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