Im sorry, we no longer offer Gazumping Insurance (or Purchase Protection Insurance).
Gazumping Insurance (or Purchase Protection Insurance) is a form of risk management reducing the cost of a false start property acquisition.
Moving house is stressful enough, without the financial worry of the sale falling through, so protect your pocket against the perils and pitfalls that come with buying a home.
For a flat fee of £79.50 you receive for up to 6 months up to £1,500 of cover:
- £750 towards conveyance fees
- £500 towards survey/valuation fees
- £250 towards mortgage/lenders fees
Even the most optimistic consumer can appreciate the peace of mind that a Gasumping Insurance Policy offers in today’s uncertain market.
All you have to do is complete the form to obtain insurance against gazumping. We will send out all documentation immediately. It really is that simple.
- the property is withdrawn from sale by the vendor for reasons beyond your control;
- the vendor receives and accepts an offer which is at least £1,000 greater than the offer they have accepted from you;
- a local authority search highlights that the property is subject of a compulsory purchase order;
- the vendor is not legally entitled to sell you the property;
- you or the person purchasing the property with you, die, are made redundant or are relocated, and you are unable or unwilling to continue with the purchase of the property;
- the initial mortgage lender’s valuation is less than 90% of the sum you have offered for the property which has been accepted by the vendor;
- prior to the release of funds the mortgage lender insists on rectification work to the property and the cost exceeds 10% of the sum offered by you which has been accepted by the vendor;
- the mortgage lender applies a retention on the loan which is more than 10% of the sum offered by you which has been accepted by the vendor; or
- the property is damaged during the period of cover and the cost of rectification work exceeds 10% of the property value.
- incurred before the start date;
- if you withdraw from the purchase of the property for any reasons other than those specifically covered by this policy;
- if you are aware of a previous survey having been carried out to the property up to 90 days prior to the start date that may give reasonable cause for the purchase to fail;
- if you are aware, prior to the start date, of any circumstances which could lead to a claim being made under this policy;
- if you deliberately and knowingly cause a delay or use unreasonable behaviour that results in the failed purchase;
- where they can be reimbursed by your employer or where your claim is covered by another policy;
- where you are able to obtain a refund of costs which you have incurred; or
- where, in the case of redundancy: you are self-employed, a company director or partner of the company giving notice of redundancy, or, the redundancy is voluntary.