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r thritis

Your House Will Not Lose Value - Guaranteed

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It'll be underwritten by an insurance scheme.

And you'll find that the price you pay for the property will include a load of money paid to the insurer to cover this scheme.

And it seems that you are only covered for two years.

How many people move within two years?

I think I saw something similar to this a few weeks ago but with no limitation, where you take out your own insurance against selling at a loss. You pay a premium and then if you are forced to sell at a loss then the company is obliged to buy it off you, so you also get a quick sale.

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The small-print must be interesting. What's to stop you selling the house to your mate for £20 and claiming the difference? Obviously a ridiculous example, but how can they (or the insurers) make sure you obtain market value?

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Thought the Office of Fair Trading would have something to say about this.

Seems almost anti-competitive in that they're removing any idea of competition in house prices.

I can see their reasons for doing it - it's win-win in an unstable market. Sell the properties for what is a profit for the builder - (not massive, but better than nothing), but still a low price in the current market. Then if the overall market stumbles, these houses will retain their value at around the price they were sold for, so no need to pay compensation.

Must be struggling to get volumes through (or offload any old shite).

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Well, however it works....

Why have they felt the need to use this promotion? They know which way the wind is blowing. It is a tacit admission that they know that buyers are increasingly worried that prices will fall :)

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Well, however it works....

Why have they felt the need to use this promotion? They know which way the wind is blowing. It is a tacit admission that they know that buyers are increasingly worried that prices will fall :)

There will be caveats..

There would have to be.. otherwise buy one, sell it to your mate for £5.75 and then get countrywide to give you the rest..

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Guest Guy_Montag

"It also only applies to owner-occupiers buying a new home of equal or greater value when making a claim."

If you trade down, you get no money.

If you buy a bigger place that's cheaper (after the crash) you get no money.

If you sell to rent you get no money.

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It'll be based on 3 separate surveys from a RICS surveyor or somesuch nonsense.

That'll stop you selling it at a loss to your friend for £2.50.

They'll probably only settle the difference between the purchase price, and the mean value of the 3 RICS surveys.

So if you sell for £2.50 to your friend before reading the small print you will be well out of pocket, but your friend will be laughing his ass off.

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The small-print must be interesting. What's to stop you selling the house to your mate for £20 and claiming the difference? Obviously a ridiculous example, but how can they (or the insurers) make sure you obtain market value?

They would probably have to approve the sale price before paying a claim.

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I'm a bit confused...I've always heard that house prices only ever go up, so why on earth do they need this promotion? :lol:

This speaks volumes about the confidence of both developers and buyers in the overbought market for new builds.

Another step in the right direction, we're getting there.....

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I think I saw something similar to this a few weeks ago but with no limitation, where you take out your own insurance against selling at a loss. You pay a premium and then if you are forced to sell at a loss then the company is obliged to buy it off you, so you also get a quick sale.

I'm expecting a phone call from a company who sell these home 'put option' products this afternoon. I'll post the outcome if any of you are remotely interested?

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It does say you have to sell it at market value. But how long do they suggest you leave it before reducing the price.

They will try anything BUT reduce the price.

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It'll be based on 3 separate surveys from a RICS surveyor or somesuch nonsense.

That'll stop you selling it at a loss to your friend for £2.50.

They'll probably only settle the difference between the purchase price, and the mean value of the 3 RICS surveys.

So if you sell for £2.50 to your friend before reading the small print you will be well out of pocket, but your friend will be laughing his ass off.

Will the RICS surveyor be employed by the insurance company, not working for the owner?

Billy Shears

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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