SearchFlow Launches Residential Abortive Transaction Insurance

SearchFlow Launches Residential Abortive Transaction Insurance

With a recent study showing that almost half of all house sales in England and Wales ‘fell through’ prior to completion in the last quarter of 2018, SearchFlow – the UK’s leading conveyancing search solutions provider – has launched a Residential Abortive Transaction Insurance to provide assurances to legal services firms’ home buying and selling clients.

The insurance provides cover on a range of incidences, should a transaction fail to complete in a property chain for reasons beyond the control of the buyer and/or seller.  It mitigates the associated risks by reimbursing a range of costs, including legal fees and disbursements, mortgage lender fees and survey fees.

The study by YourMoveNow found that 30% of failed transactions were due to buyers changing their minds; while 19% received a higher offer after the sale had been agreed and a further 10% of fall-throughs were as a result of slow progress.

Tracy Burtwell, Sales Director at SearchFlow said: “In uncertain times, and to mitigate financial risks relating to fall-throughs, we have launched a Residential Abortive Transaction Insurance. This is designed to provide peace of mind to residential buyers and sellers by providing cover for a wide range of incidents, should a property transaction fail to complete at any stage in the property chain. It’s a great value-added service that solicitors can offer to clients as part of their conveyancing package.”

The insurance is one of the additional services available from the search provider, which also includes Title Insurance, Anti Money Laundering checks and a range of surveys.  Terms and conditions apply.

With more than one million conveyancing searches run every year for over 2,000 legal clients across England and Wales, SearchFlow is regarded as one of the leading providers of comprehensive searches, surveys, identity checks, and conveyancing insurance solutions.

For more information on SearchFlow, call 0870 423 2922, email sales@searchflow.co.uk or visit www.searchflow.co.uk.

 

This article was submitted to be published by SearchFlow as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

SearchFlow

http://www.searchflow.co.uk

SearchFlow is the UK’s largest provider of legal due diligence data for residential and commercial property transactions. Since its formation, it has supported over 5,000,000 instructions and delivered 26,000,000 searches; this equates to around 1 in every 4 property transactions in the UK. SearchFlow recognises that proactively supporting each client’s journey is vital to delivering the right due diligence insights, searches, data, surveys, and insurance for every transaction – whether a single residential property or a complex commercial portfolio. Via its advanced online ordering platform and backed-up by an award-winning customer service team, SearchFlow supports clients in delivering the conveyancing solutions needed to manage due diligence risk and achieve compliance. By partnering with SearchFlow, property law professionals in the UK can deliver smarter, safer, and faster property transactions to their customers. SearchFlow have been crowned Search Provider of the Year for four consecutive years, and recently won Bronze for Best Use of Technology at the CX Awards. Based in Kent, SearchFlow is a Landmark Information Group business, which is part of DMGT plc. Key Services

Links Address 42 Kings Hill Avenue Kings Hill West Malling Kent ME19 4AJ Key Contact  Rob Steadman robert.steadman@searchflow.co.uk Telephone 0800 977 8818

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