OneSearch Direct introduce new level of security for homebuyers

Print This Post

9 October 2015

OneSearch200OneSearch Direct, the largest local search data company in the UK, is thrilled to launch a brand new insurance policy, called OneSearch Insure. The policy provides an exceptional level of security for solicitors and homebuyers.

The policy will protect costs incurred, up to a maximum of £1,500, due to the collapse of a property transaction in a number of circumstances. Conveyancing fees and disbursements are included as part of the policy cover.

In an exclusive arrangement with leading insurers Ageas and Northcott Beaton, OneSearch Insure will cover homebuyers against a comprehensive list of events where a property purchase breaks down through no fault of their own.

Claimable events include:

  • gazumping
  • vendor withdrawal
  • redundancy
  • relocation

Property sales can also fall through where a lender valuation is less than 90% of an accepted offer, or the lender won’t release funds until rectification work is carried out. With rising reports of property fraud, there are also increasing numbers of vendors who have tried to sell properties, which they are not legally entitled to.

These are all events covered by OneSearch Insure. This comprehensive policy offers the solicitor a proactive security blanket, not only for their client, but for their firm too.

Property transactions failing before completion is an ever-present issue, and it can be attributed to many factors that have little or no correlation. This is why it’s vital that your client has a policy like OneSearch Insure, to provide the highest level of protection against the widest variant of issues.

Don Belcher, head of channel, OneSearch Direct said:

“Depending on what you read, the house sale fall through rate in the UK is anywhere between 25% and 40%. Even the lower end of that scale warrants a real case for a policy like OneSearch Insure.

“That’s why I’m delighted we can now offer OneSearch Insure. For the solicitor it helps to protect their fees, and for the homebuyer returned costs can be put towards buying an alternative home.”

Andy Payne, national business development manager, Northcott Beaton, comments:

“For anyone buying a property, there are always risks attached. These risks bring uncertainty and, for the client, an element of security in this emotional process is invaluable.

“For the solicitor, providing OneSearch Insure as part of a conveyancing offering is showing the ultimate in Client Care, Due Diligence and Risk Management and we are excited to be providing just a small part of this unique offering.”

If you require any advice on this policy or wish to obtain further information and/or a copy of the policy document, please email info@onesearchdirect, or call OneSearch Direct on 0800 052 0117.

Associate News is provided by Legal Futures Associates.
Find out about becoming an Associate

Legal Futures Blog

Are you prepared for the ‘must do’ period?

Claire Smith

Are you feeling the effects of being back at work yet? Holidays are over for most and we are instead daydreaming of the summer gone… I can still smell sun tan lotion. But the autumn is now upon us. And with it, the subconscious knowledge that a busy period is around the corner. This is the watershed moment in our working year that occurs in September: when the holidays are over and everyone gears up for the return to work rested, refreshed, with a ‘must do’ attitude.

September 20th, 2017