Listen up all you buyers and sellers- legal costs insurance

(7 Posts)
concertplayer Fri 13-May-16 18:16:00

Got this from a friend who had 3 buyers pull out. It costs £72 incl vat and means
if your buyer withdraws you will not be charged again for the legal work done.
You pay it when you instruct. It only works if the other side pull out not you
She said her sols could just use some of the info again in the next deal so saving
a bit of dosh.

specialsubject Fri 13-May-16 18:46:15

er...most solicitors do no-complete-no-fee and will reuse all that they can. Obviously the searches will need to be done again - does this cover reimburse those?

concertplayer Fri 13-May-16 20:07:47

I think there are 2 levels of premium -the lower for with searches . It covers survey,
mortgage arrangement fees . disbursements should the seller pull out.
Go to a firm called Searchpoint on the web for further info It covers gazumping
and also if valuation comes in short.It seems tome this insurance is best
for buyers

concertplayer Fri 13-May-16 20:26:20

Yes it just covers conveyancing not searches for the seller

specialsubject Fri 13-May-16 21:01:51

In that case it is unnecessary with no complete no fee. Do you work for them ?smile

concertplayer Sat 14-May-16 08:53:33

I do not work in this business.(mumsnet regs) So you need to look for a no complete no fee solicitor.? Presume it is only no fee if other side pull out?

specialsubject Sat 14-May-16 10:04:59

Yes, not unreasonably - although only if you decide not to buy/sell at all. Never had any problem finding those terms. Apologies for doubting you but it does sound a waste of cash.

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