Special Title Insurance from Wright & Wright LLP

Using title insurance....

why do we keep banging on about it!?

Greetings!

We love title insurance- we really do! But why? It never buys dinner, it doesn't iron shirts and it can't predict the lottery.

We love it because it works. It saves our Clients money, it reduces their risk, it speeds transactions up and therefore reduces the attrition rate.

So if it is so great why doesn't everybody use it? Well we think it's because they don't understand it or don't trust financial products. Title insurance is an insurance product regulated by the FSA and, as such, it carries certain compliance requirements with it. Once you overcome these, and once you see how it fits into the advice circle, we find it bizarre that it's not more widely used.

We have broken down three sectors where we feel title insurance can bring true benefits- mortgage broker; estate agency and SARB or BTL investor.

When we undertake your conveyancing we can source our existing portfolio of title policies to find the most appropriate cover for your Clients and their transactions. We work with a number of the leading insurers and, in so doing, we have developed policies that are not available through any other Solicitor.

If you combine this with our recent appointment to the Land Registry's Business Gateway and Portal pilots then we feel we have a really positive, practical conveyancing service we can offer.

We genuinely believe a title policy can knock days if not weeks off any transaction.

Mortgage Adviser/ IFA

The traditional non-conforming Lenders used to build title insurance into their lending but now the remaining Lenders rely on their conveyancers to implement it. A conveyancer who has limited access to this function could be wasting your Client's time and money on a standard ReMortgage.

No Searches Policy:
Ł16.00 to Ł19.00

Traditional Searches:
Ł145.00

Estate Agent/ Asset Manager

The normal suite of policies applies to Purchases as much as it does for a ReMortgage but the most innovative policy we have adopted in recent times is the Abortive Costs cover. This enables a Client to recover both their legal and survey costs* and may just encourage them to make an offer they might otherwise have avoided.

Abortive Costs Cover:
Ł60.00

To Recover:

Ł1,000.00

Sale & Rentback/ BTL Investor

The full risk title policy was the reserve of Lenders but can now be extended to volume SARB and BTL buyers thanks to our unique SARB Policy. The risks covered include Searches and Insolvency which are both critical in this market. On top of this we have built in all standard title defects, fraud and forgery.

Title Policy:
from Ł150.00

Comparative Cost of Single Policies and Searches:

Ł316.16

And to cap it all we have also worked long and hard with the Insurers to bring something a little special for TENANTS in any market. Most of you will understand the concept of a rent guarantee- well now we have a policy, unique to Wright & Wright, which will cover a tenant's displacement costs* in the event of the Landlord being repossessed, becoming bankrupt or there being any other threat to the Tenant's security caused by the home being under pressure.

If you are involved in acquiring BTL or managing lettings then you should consider this cover as part of your own offering.

As I said.... we love title insurance!

Best Wishes

Julian Sampson
Wright & Wright LLP
+44 (0)1483 531264

* subject to the terms and conditions of the Insurer.

Please refer to our standing terms in relation to title insurance and our conveyancing business including our selection of Insurers.

Save ŁŁŁ	If you want to refer conveyancing business to us, and you wish to use title insurance then it is highly likely we will be able to discount on our normal published prices as a result.