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Flexi Smart Contingency House Insurance

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We are delighted to announce the introduction of the Flexi Smart Contingency House Insurance product to our online ordering platform. In conjunction with We Help You Too and the Homebuyer Conveyancing Panel, Flexi Smart Contingency House Insurance provides building insurance in the period from exchange of contracts to completion for up to 28 days. Provided by Northcott Beaton and Acasta European Insurance, the insurance policy is designed to fulfill and satisfy the requirements of mortgage lenders and will be used by the homebuyers solicitor during this timeframe. Did you know? According to Citizens Advice, when a house is damaged after exchange, but before completion: “… it is the seller’s responsibility to inform the buyer of any damage. It is however the buyer’s responsibility to insure the property from the date of exchange of contracts and to have the repairs carried out. The buyer will then have to make a claim on their insurance policy.   Click here to view our product card Often, homebuyers assume that buildings insurance should commence from the date of completion, not exchange. Whilst solicitors are able to inform them otherwise, it can throw a curveball to their client and increase the risk of snap decisions, at a time when careful thought and consideration really ought to be a priority. No solicitor would compromise their client by proceeding with a transaction without the appropriate insurance in place, irrespective of a seller’s insistence on already having cover, no matter how eager all parties are to lock in that exchange. It’s a standard condition of sale for the buyer to have an insurance policy in place immediately upon exchange of contracts, as they will ultimately be responsible for any eventualities during this intervening period. Elizabeth Jarvis, Managing Director, OneSearch Direct, comments: “When investing in any type of insurance – car, life, or home – there are many ways to shop around for the best deal. It is no longer the case that homebuyers merely accept their lender’s own offering. The desire to quickly exchange on their dream home, however, can be at odds with the patience required for choosing the best policy for their needs. When a buyer is desperate to take their dream home off the market, it makes complete sense to have Flexi Smart Contingency House Insurance as a stopgap, allowing breathing space to make careful, informed choices about how best to protect what is sure to be their biggest investment in life. "Flexi Smart will give you both one less thing to worry about, and allow you, the solicitor, to move the transaction along, knowing your client is protected.” Duncan Pattinson, Managing Director, Homebuyer Conveyancing, comments: "Buyers visit comparison insurance websites to take out insurance, so that they can pass the information to their Solicitor or contact their own insurance company to see if they can have two properties covered at the same time. This is often last minute and the Homebuyer doesn’t have time to make an informed decision. They may be buying insurance that they might not need should their new property fail to get to exchange." Northcott Beaton Logo Andy Payne, National Business Development Manager, Northcott Beaton, comments: “At Northcott Beaton, we specialise in innovating and bringing new products to market. We are delighted to be working with OneSearch Direct and We Help You Too to launch the unique Flexi Smart Contingency House Insurance, which will cover a gap in the market that many house buyers do not even consider in the latter stages of a property transaction.” To find out more, give us a call on 0800 052 0117. To find out more about We Help You Too or the Homebuyer Conveyancing Panel, visit, or call 0345 463 7664. To find out more about Northcott Beaton, please visit or call 01392 426 046.