Supplied by: OneSearch Direct
OneSearch Pledge is a warranty product, that if purchased along with your other search products from OneSearch, means we will reimburse your search costs up to a maximum of £300 if the purchase of your new property falls through as a consequence of any of the reasons listed below.
You will be reimbursed for your searches if the seller withdraws from the transaction for any of the following reasons:
- The seller is not entitled to sell the property to you.
- The seller accepts a significantly higher offer (at least £1000 more) from another buyer, and you are unwilling to increase your offer.
We will also reimburse your search costs if you withdraw from the transaction for any of the following reasons:
- The property is damaged during the period between offer and exchange of contracts, and the cost of repair would exceed 5% of the property value.
- Your mortgage lender applies a retention of 5% or more of the accepted price.
- Your mortgage lender’s survey or valuation identifies rectification work is required, and the cost of this work exceeds 5% of the sum you originally offered, or values the property at less than 90% of the accepted sale price.
- An adverse result is returned from our searches to the serious detriment of the property value.
- You, or anyone you are buying the property with, are given notice of redundancy or relocation, or are diagnosed with a terminal illness, or die.
- Any incident affecting the housing market as a whole.
This is not an insurance product. It is a warranty add-on provided with a bundle of searches purchased from OneSearch Direct. Only products included in the same order as OneSearch Pledge will be covered under these terms, and to a maximum value of £300. The cost of purchasing OneSearch Pledge is not included in any reimbursement.
Please view sample for full conditions.