Buyer Protect

Protect your moving costs if something goes wrong

There are many reasons for a property purchase to go wrong

If it does, it can leave you seriously out of pocket. With The Buyer Protect Reimbursement Scheme, associated costs that form part of the buying process can be reimbursed.

What’s covered?

Solicitor disbursements (searches)

Survey Costs

Non-refundable mortgage arrangement fees

Explore the scheme further

Here is a breakdown of the costs you will stand to get re-imbursed for reasons within the scheme:

  • Up to £600 in solicitors disbursement costs.
  • Up to £750 in valuation fees (Homebuyer, structural surveys etc.)
  • Up to £500 in non-refundable, mortgage lender arrangement fees, product and booking fees. Buying property in the UK has changed hugely in recent times, making the decision of choosing the right Solicitor even more important.

When you request a quote through Convey With Me, we can include the benefit of The Buyer Protect Re-Imbursement Scheme in addition to the many features included in our standard service such as our anytime access to our ‘Online Tracking System’ which keeps you up to date on where your property transaction is and what is outstanding AND real time emails ‘When it Happens’ with up to the minute information on the progress of your case.

Very Important Notice:  The above items should not be paid for before Buyer Protect is confirmed in place or they will not be included in the scheme.  Searches and the cost of the scheme must be paid BEFORE anything else to provide the refund if applicable.  Please ask for a quote today and protect your money from the cost of buying a property in the event it goes wrong within the validity of the scheme.  See validity.

When is the scheme valid?

Any of the following events, that occur during the period of guarantee and lead to your purchase of the property failing:

  •   The property is withdrawn from sale by the vendor due to reasons beyond your control.
  • The vendor receives and accepts an offer from a third party, which is a minimum of £1000 greater than the offer from you previously accepted by them.
  • A Local Authority search highlights that the property is:
    • The subject of a compulsory purchase order;
    • In a flood plain;
    • On contaminated land; or,
    • Over a mining area;  and you decided not to proceed with the purchase of the property.
    • The vendor is not legally entitled to sell the property or to transfer interest in the property to you.
  • You or the person who is buying the property with you:
    • die and the survivor is unable or unwilling to continue with the purchase; or,
    • are given notice of redundancy and you are unable or unwilling to continue with the purchase; or;
    • are given notice of relocation and you are unable or unwilling to continue with the purchase.
    • You are diagnosed with a terminal illness and are unable or unwilling to continue the purchase.
  • The initial mortgage lender’s valuation of the property is less than 90% of the sum you have offered for the
    property and which has been accepted by the vendor.
  • The mortgage lenders survey or valuation identifies rectification work that needs to be carried out to the property, the cost of which exceeds 5% of the sum you have offered and which has been accepted by the vendor.
  • The mortgage lender applies a retention on the loan for the property and this figure exceeds 5% of the sum you have offered for the property and which has been accepted by the vendor.
  • The property sustains damage during the period of guarantee where the total cost of rectification work exceeds 5% of the property value.

At what point in the process does the scheme’s benefits start?

Once the searches for your property purchase are ordered, the scheme will commence and is valid for 12 months.

Reasons where the scheme will not apply:

 

  • If one of the aforementioned events happened before searches have been confirmed by your solicitor as being instructed.
  • If you are subject to a contracts race, auction or sealed bids.
  • If you are buying a mobile home, caravan or any other type of non-permanent dwelling.
  • If you withdraw from the purchase of the property for reasons other than those mentioned.
  • If you deliberately and/or knowingly cause a delay or use unreasonable behaviour that results in the failed purchase.
  • If the purchase has not exchanged within 12 months of being registered with the scheme which starts when your searches are ordered.
  • If you are aware of a previous survey having been carried out to the property that may give cause for the purchase to fail or of any other circumstances, which could lead to the failure of the mortgage completing.
  • Where you can be reimbursed by your employer or obtain a refund, from the lender or solicitor.
  • You will not be reimbursed for a mortgage arrangement fee if you still use the newly arranged mortgage on the next purchase.
  • In the case of redundancy you will not be reimbursed if you are self-employed, if you have taken voluntary redundancy or if you are a company director or partner of the company giving notice of redundancy.
  • You will be not reimbursed if you provide false or fraudulent information.

How does a claim on the scheme get processed?

 

In the unfortunate event that you need to make a claim on the scheme, you will simply be asked to fully complete an online form and upload any documents requested.

Your claim will be fully reviewed within 7 working days and if successful payment will be sent to you within 10 working days thereafter.

Important Notice:

This is NOT AN INSURANCE POLICY; Buyer Protect is a reimbursement scheme giving an added benefit when choosing conveyancing through Convey With Me Ltd, whose scheme partner will reimburse you when genuine documents to substantiate the losses are confirmed and the claim falls within the scheme’s plan.

Need more information?

What do our customers say?

"We were more than satisfied with our dealings with your organisation, we were kept informed at every stage. We found our conveyancer most professional and reassuring throughout the quite stressful purchase"

Mr Ken Johnson

House Buyer,

“Really good to be kept informed of all steps made in the progress of my sale, and I liked seeing it broken down so that I knew what needed to be done to complete. Excellent service!”

Miss Clare Howells

House Buyer

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