![Grigio Van Grigio](/data/avatars/m/18/18921.jpg?1698393656)
Grigio Van Grigio
VIP Member
I’ve been thinking about this overnight and has a bit of a Google. Obviously you can get redundancy insurance. The “trigger” for a claim isn’t unusual and it can be underwritten. The issue is with the settlement. It basically sh!t or bust. A one off insurance which will pay out nothing or £40,000. And there won’t be much call for it as there is rarely such a length of time between exchange and complete so a standard mortgage offer will still be valid when it comes to complete. As such, it’s a bespoke cover that is going to be very difficult to find, and expensive if you do.
The answer I would suggest (and I think it’s been mentioned above @Camperfamily @ash) is to ensure the standard contract allows you to novate the contract and transfer the contractural responsibilities to another buyer should your daughter be unable to complete for any reason. As the location/development is in high demand, you would hope finding another buyer should be possible.
Hope this helps in some way.
The answer I would suggest (and I think it’s been mentioned above @Camperfamily @ash) is to ensure the standard contract allows you to novate the contract and transfer the contractural responsibilities to another buyer should your daughter be unable to complete for any reason. As the location/development is in high demand, you would hope finding another buyer should be possible.
Hope this helps in some way.