Armageddon

The answer to ‘armageddon’ – Exchange to completion insurance product is well received by conveyancing professionals

Prior to the launch of the exchange to completion insurance policy for property buyers, Bickers Insurance Services, who have designed the scheme, consulted the legal profession to gauge the need for a bespoke solution.

Reaction from solicitors in the residential property conveyancing market has been very enthusiastic. The head of property at a multi-branch solicitors in the South-East, described the scenario when things go wrong during the purchase process.

“When a property is damaged between exchange and completion, one word to describe what happens in the conveyancing process is armageddon” he mused.

“… it is almost impossible to be certain that cover arranged by buyers will be suitable or adequate. The Exchange 2 completion policy removes that uncertainty and reduces the risk to our clients. We will be recommending it to our conveyancing customers.”