Is home buyers protection insurance worth it?

[cosypeppermint]

Looking for a house to buy (FTB) and came across this type of insurance. Is it worth it? Has anyone used it?

Here’s an example

I don't know and would like to know that too. Hopeful bump.

Thanks @Cheesecake53

Watching too.

my buyer pulled out after only a couple of weeks and left me with a £650 legal bill. I would be really interested in this

I saw it mentioned on another forum, but without any info.

It does sound good! But the cynic in me thinks if it tended to pay out/be worth it, it would be far more widely used and heard of.

Never heard of this. Our sellers just pulled out a couple of weeks before exchange was due, leaving us at least £1k out of pocket. Hope karma catches up with them.

I came across home buyer's insurance on mumsnet and purchased a policy for about £70 even though I was almost 100% certain that we wouldn't need it as our sellers were very motivated.
However their circumstances changed and the purchase fell through, but thankfully we were able to claim back pretty much all our expenses which included the disbursements and survey. The legal fees were refunded to us as our solicitors had a no move-no fee policy, however the insurance policy would have paid this out too. There was also no excess to pay.
So I would definitely encourage it as it saved us hundreds of pounds. And even if you don't need to use it, the premium is quite a small amount anyways
Just check the policy so you know what the cover types and limits are - these tend to differ depending on if you purchase a gold or silver policy for example

Good to hear it paid out although sorry you needed it. Where did you get yours from?

Sorry for the late response.

It worked out great in the end as we soon after found a property that is much better suited for us as it ticks more boxes, is better situated and is much cheaper than the other property which was towards the top end of our budget.

I bought this policy

Thanks for the link!

We’ve made an offer on a house and the estate agent has asked us to go through a paid-for identity check that gives us this type of insurance, so may not buy separately. Going to read carefully obviously!