Keeping your money safe

HousecureProtect

HousecureProtect is a new type of contract to protect property buyers and sellers once an offer is agreed. It's legally binding and provides compensation if a buyer or seller doesn't stick to a mutual set of commitments, such as fast communication and no gazundering or gazumping. Take a look at how it works below and why it's a good idea to take out a HousecureProtect policy.

Key Information

The policy financially protects both buyer and seller if a transaction falls through. Both parties put an equal deposit into our secure account which is used to provide compensation if the transaction falls through due to a party breaking one of the conditions. Our trained mediators determine fair compensation based on expenses incurred or damage caused.

If we help you reach exchange then the deposits are returned in full to both parties (minus our £250 fee from both parties). We don't take any fee if you don't reach exchange, instead compensation is paid where appropriate and the remaining deposits are returned.

A policy can be created by anyone in minutes, and customised with your unique requirements. If you need to complete by a certain date or require planning approval, or anything else specific to your situation you can add that to the contract and have it as a condition that the counter-party will be required to meet.

Mutual Protection

The policy financially protects both buyer and seller if a transaction falls through. Both parties put an equal deposit into our secure account which is used to provide compensation if the transaction falls through due to a party breaking one of the conditions. Our trained mediators determine fair compensation based on expenses incurred or damage caused.

Money Back

If we help you reach exchange then the deposits are returned in full to both parties (minus our £250 fee from both parties). We don't take any fee if you don't reach exchange, instead compensation is paid where appropriate and the remaining deposits are returned.

Customisable

A policy can be created by anyone in minutes, and customised with your unique requirements. If you need to complete by a certain date or require planning approval, or anything else specific to your situation you can add that to the contract and have it as a condition that the counter-party will be required to meet.

Your journey to a faster, more secure property transaction

How does HousecureProtect work?

1

Creating your proposal

Outline the behaviours you expect yourself and your counter-party to stick to for your transaction. The core commitments we ask are:

  • Sincere commitment to the transaction

  • No gazundering or gazumping

  • Communication and action will be swift and responsive

  • Time will be given to complete necessary tasks and due diligence

  • Price changes must be proportional and negotiable

Why? These five commitments will ensure your transaction is less likely to run into problems and delays, and can help you complete your transaction faster than the average of 18 weeks.

2

Personalise your proposal

We know every person and property transaction is different, so every HousecureProtect policy will be too. Our policy builder allows you to add further commitments to suit your unique situation. There's no need to add further conditions but they could be:

  • A target exchange date

  • Dates by which certain details are provided to you

  • A requirement for planning permission to be approved

Remember to stay reasonable (e.g. no demanding a finished transaction within a week), or your counter-party is unlikely to agree to the policy.

Why? You may want a particularly speedy transaction, or there may be details such as a pending planning application that will affect your transaction. A personalised policy allows you to set your needs in stone.

3

Send your proposal

Once you've decided your commitments and deposit amount, you can send your proposed policy to your counter-party.

We'll let you know if they would like to accept, decline or re-negotiate the conditions of your policy.

Why? Mutual commitment is integral to a HousecureProtect policy, so spending the time to find a proposal that suits you and your counter-party will ensure a smooth transaction.

4

Let the policy commence!

After your policy is agreed, you and your counter-party will transfer your deposit to us where it will be held securely until your policy concludes (when you exchange).

Why? We are an impartial third party to your transaction, so that compensation will be paid fairly and in a timely manner following any disputes. We are registered with and regulated by the FCA (935777), and the deposits will be stored in a secure client account.

5

Sleep easier

Now you need to get the transaction done, but you can sleep easier knowing that if something goes wrong, you will be entitled to compensation from your counter-party's deposit if they are at fault.

Our mediation process for disputes ensures that the outcome of every HousecureProtect policy is fair and transparent:

  • We collect evidence from both sides

  • A formal mediation process begins

  • Compensation is allocated and distributed if the transaction falls through

Why? Our policies are designed to help people through a transaction and prevent them from losing money if things go wrong. Unlike insurance products, where you need to make a claim for a payout, HousecureProtect is designed to ensure you are compensated fairly every time.

6

What are you waiting for?

Far too many people are losing thousands of pounds every time a transaction falls through. This doesn't need to happen to you.

Protect your transaction.

Still have questions?

You can find out all the details about how the process works on our helpdesk.

You might be wondering...

Have another question? Contact Us

In a nutshell, yes. However, classic reservation agreements are not flexible and usually only protect against gazundering and gazumping.

Yes. Housecure is registered with and regulated by the FCA under registration number 935777.

We understand that sometimes things don’t go as planned. If you have valid reasons to pull out of the transaction, such as unsatisfactory survey results or searches, we will make sure that you are not penalised.

If all goes well (and we hope it does), the deposits will be returned to both parties on the date of exchange. If the transaction falls through or a dispute arises, the deposit will be returned to the party that has been wronged along with part or all of the deposit of the other party. We will make sure that the dispute is resolved fairly and transparently, and in good timing.

We are regulated by the FCA. This means we've undergone a stringent process to ensure we are able to handle money safely and securely. Your deposit will be held with a unique reference number linked to your profile ID and HousecureProtect ID. This multi-layer security ensures your money is safe and can be returned to you after your transaction is successful!

Right now, we only offer HousecureProtect on residential properties in the UK. We are working on expanding our services to other types of properties and locations.

If you are a seller and you have not found a buyer yet, you can still take out a HousecureProtect policy. You can contact us to add the buyer's details after you create the policy.

Of course! Take a look: HousecureProtect example contract.

No problem! You can contact us at support@housecure.co.uk. We are always happy to help.