Preparing for the Unexpected When buying a House

Putting your house on the market, and buying a house are some of the most stressful moments in life. Although it is a very exciting time, there are also many things that can go wrong along the way.

We would all prefer not to think about the worst case scenarios, but when it comes to buying houses, things going wrong can end up costing money so it’s always better to be prepared.

That is where home buyers protection insurance comes in.

What is Home Buyers Protection Insurance?

Home buyers protection insurance may not be as well known as other insurances like car insurance or life insurance, but if you’re in the middle of a property purchase this is something you may want to take a look at.

Home buyers protection insurance is a way to cover the fees associated with house buying, and make sure that all of these costs are not wasted if your purchase or sale does end up falling through. This insurance can cover your surveyor fees, conveyancing fees, mortgage fees and even covers instances of being gazumped.

How Common is it for House Purchases to Fall Through?

Unfortunately it is extremely common! I really think the home buying market in the UK needs some reform to offer more stability and protection to everyone involved, but until then – these types of insurance are here to offer you some peace of mind.

According to, 30% of house purchases end up falling through and I can definitely believe that.

We are buying right now and it has not been a smooth journey, with hurdles all the way along for everyone involved. Our buyers pulled out, leaving us having to quickly re-plan to make sure our purchase could still go through. Our seller’s seller’s also pulled out, leaving them having to re-plan as well, and everyone you speak to has similar stories from their time buying a house.

We have friends buying right now who are already on the 3rd or 4th housing option because houses keep falling through! It’s a tough market out there, that’s for sure.

What to do if your buyer pulls out, or if your house purchase falls through

With home buyers insurance, you can rely on the insurance to help ease the financial burden for you at this stressful moment.

Other things to consider are – if your sale falls through, are you able to put your house on the rental market instead to preserve your chain and proceed with the time frame as planned?

If your sale falls through, is your estate agent able to quickly pull together an open house to find a replacement buyer within a week or less?

If the house you are buying falls through, is it worth considering going ahead with the sale and putting some things in storage temporarily while you complete on a new property?

Sometimes, everything falls apart at the same time and in those situations all we can do is pick ourselves up and log back on to RightMove, knowing that eventually everything with align and our new house will all be worth it.

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