Residential Abortive Transaction Insurance

Posted: 12/11/2014

Pali is pleased to announce in conjunction with Northcott Beaton Insurance Brokers, the launch of their latest product, Residential Abortive Transaction Insurance.

Residential Abortive Transaction Insurance

What is Residential Abortive Transaction Insurance?

Residential Abortive Transaction Insurance has been designed initially to alleviate parts of the frustration that may be created if a purchase or potential sale of a property falls through. If this happens, the Residential Abortive Transaction Insurance will protect some of the costs and expenditures incurred during the conveyancing process, subject to some terms and conditions.

Residential Abortive Transaction Insurance can cover the following costs and expenditures:

  • Conveyancing fees, searches and disbursements
  • Lenders mortgage arrangement fees
  • Mortgage lenders valuation fees incurred by you in the purchase of a property up to a maximum of £1,500
  • From the date that this insurance policy is issued it is valid up to 365 days

Once an offer has been put forward and accepted by the vendor the cover includes/applies the following:

  1. The vendor withdrawing the property from sale following receipt and acceptance of an alternative offer from another buyer.
  2. Your withdrawal from the purchase of; an adverse legal search or the mortgage lender's valuation of the property being less than 90% of the sum you have offered.
  3. Your or the vendor's withdrawal from the property purchase because of your or the vendor's; employers' relocation not completing, involuntary unemployment or death, unforeseen illness or bodily injury caused by a sudden or specific accident.

There are two types of Residential Abortive Transaction Insurance available which are:

A buyer’s policy

A seller’s policy

Search Packs containing Residential Abortive Transaction Insurance from Pali

Pali can set up search packs containing Residential Transaction Insurance along with a Local Search, Drainage & Water Search, Environmental Report and any other conveyancing search which may be required. There can be many costs incurred when a transaction falls through such as disbursements, searches, legal fees and valuations but if Residential Abortive Transaction Insurance is in place then these costs will be covered up to £1,500. Contact Pali on 0151 691 1170 if you are interested in our Residential Abortive Transaction Insurance or simply email search@paliltd.com for a sample of our Residential Abortive Transaction Insurance. If you would like to view our prices for this product, please click here - Residential Abortive Transaction Insurance.

Visit our Google page and become part of Pali Ltd's circle before ordering your Residential Abortive Transaction Insurance.

(0) Comments solicitor, conveyancing, residential, insurance

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