April, 2019
Gazumping a growing concern with 49% of homebuyers saying they are concerned
Homebuyers are nervous they will lose their dream house to a higher bidder just days before they exchange contracts.
Of the homebuyers surveyed, 49 per cent said they worried about being 'gazumped'.
Campaign group HomeOwners Alliance says the new figure is up from 47 per cent last year.
Buyers can protect themselves by taking out 'home buyers protection' insurance. Policies cover some of the loss of legal, valuation and mortgage administration fees.
Ryan Fulthorpe, home insurance expert at GoCompare, says: 'Home buyers protection offers customers peace of mind and secures against gazumping.'
Christopher Clarke, of Mortgage Advice Bureau, offers ‘buyer protection’ to all of his clients he arranges a mortgage for and has cases where his clients have benefitted from this. For further information contact Christopher on 01932 232927
