According to Gen H, such guarantees are uncommon in the conveyancing market, where buyers and sellers are often exposed to significant financial losses if transactions fail. A recent survey has revealed a significant increase in property transactions falling through in the UK.
Gen H Legal said it introduced the option in response to customer feedback seeking greater cost certainty in the homebuying process. Gen H and Gen H Legal also offer clients bundled services, allowing homebuyers who use both the mortgage and conveyancing services to access discounted mortgage rates.
“Conveyancing is a necessary part of any property transaction, but it can be costly and feel opaque for clients; the sheer investment required can leave people on edge,” said Rebecca de Andrade, head of legal practice at Gen H Legal. “The failed transaction fixed fee guarantee is designed to ease some of these worries. We’ll always do everything we can to help our clients complete as quickly as possible – but in the event that something goes sideways, this guarantee could help.”
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