Buyer Protection For LawCard Members

A safer way to move home

What is the Buyer Protection Package?
If your purchase transaction does not proceed to exchange through no fault of your own, we will reimburse up to a total of £1,850 including £500 in mortgage lender arrangement fees, £750 in valuation fees and £600 in solicitor disbursements (e.g. searches).

What will this cost you?
Nothing - it is included as part of our conveyancing service. Just instruct us within seven days of receiving our quotation and you will be covered by our Buyer Protection Package. Please see below for a full list of terms and conditions.

Terms and conditions for reimbursement

You are eligible if:

The property is withdrawn from sale by the seller due to reasons beyond your control.

The seller receives and accepts an offer from a third party, which is a minimum of £1,000 greater than the offer they previously accepted from you and you are not prepared to increase your offer.

The mortgage lender’s survey or valuation of the property identifies that rectification work needs to be carried out, the cost of which exceeds 5% of the sum originally offered, or values the property at less than 90% of the sum offered for the property, which has been accepted and you decide not to proceed.

The mortgage lender insists on a secondary survey, such as a damp and timber or electrical survey and the mortgage lender insists on additional rectification work being carried out to the property, the cost of which exceeds 10% of the agreed asking price and you decide not to proceed.

The mortgage lender applies a retention to the mortgage for the property, this figure exceeds 5% of the sum offered, which had originally been accepted and you decide not to proceed.

The property sustains damage during the period between offer and exchange of contracts where the total cost of rectification work exceeds 5% of the property value and you decide not to proceed.

The seller is not legally entitled to sell the property or to transfer the property to you.

A survey or valuation is carried out and highlights that the property has been underpinned or shows signs of current subsidence and you decide not to proceed or the lender will not lend.

A Local Authority search highlights that the property is the subject of a compulsory purchase order, in a flood plain, on contaminated land or over a mining area and you decide not to proceed.

A search highlights the fact that there is a defect in the title, this cannot be rectified and you decide not to proceed or the lender will not lend.

You die or contract a critical illness, sustain a serious injury, are given notice of redundancy or are given notice of relocation and you decide not to proceed.

Are there any exclusions?

Buyer Protection will not cover the following:

If any circumstance detailed in the terms and conditions happened before you instructed LSG Conveyancing.

If the purchase is subject to a contract race or sealed bids.

If you withdraw from the purchase of the property for circumstances other than those detailed in these terms and conditions for reimbursement.

If you deliberately and/or knowingly cause a delay or use unreasonable behaviour that causes and results in the failed purchase.

If the purchase has not exchanged within 12 months of taking out Buyer Protection.

If you are aware of a previous survey having been carried out on the property that may give cause for the purchase to fail.

If you are aware before taking out Buyer Protection of any circumstances which could lead to the failure of the purchase.

Where you can be reimbursed by your employer or obtain a refund from the lender or lawyer.

In the case of redundancy, we will not reimburse you if you are self-employed, if you have taken voluntary redundancy or if you are a company director or partner of a business.

How to reclaim the associated costs

In the unfortunate event of your purchase falling through, please contact LSG Conveyancing on 0345 234 0221, we will ask you to provide the following;

Proof of payments made to your mortgage lender, valuer and lawyer (as appropriate), e.g. the mortgage offer from the lender, the valuation invoice, lawyer’s bill for costs incurred.

Details as to why the purchase transaction has fallen through and evidence to support those details.

The amount you are claiming.