FlexiSmart Contingency House Insurance
Homebuyers become legally responsible for the property’s building insurance once contracts
Should any disaster happen between exchange of contracts and completion then the problem
will be the homebuyers, not the vendors.
The Flexi Smart Contingency House Insurance provides building insurance in the period from
exchange of contracts to completion for up to 28 days. It is designed to fulfil and satisfy the
requirements of mortgage lenders and will be used by the homebuyers solicitor during this
Often homebuyers are unaware that insurance is required between exchange and completion.
The FlexiSmart Contingency House insurance will be ordered by your solicitor on your
instruction and we suggest that the best time is when you instruct your solicitor to act for you.
You will then be ready in good time to have this contingency insurance in place ready for
exchange of contracts.
After exchange of contracts the homebuyer will be contacted by Northcott Beaton, the insurance
broker specialist to discuss transferring existing building insurance or taking out a new policy.
The cost for this policy is nominal, but the support it provides in getting you to exchange of contracts (whilst allowing you time to finalise your insurance arrangements) is invaluable.
By using our conveyancing quote engine and our recommended panel of Solicitors, you can have the benefit of the FlexiSmart insurance and Abortive Costs insurance should the worst happen and your transaction fail to complete.
For more information, you can call our head office on 01392 426046 or via our contact us page