Buyer Protect

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•   The property is withdrawn from sale by the vendor due to reasons beyond your control.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.

• 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.

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.