Protect against gazumping

HOMEBUYERS are nervous they will lose their dream house to a higher bidder just days before they exchange contracts.

Of the homebuyers surveyed, 49 per cent said they worried about being ‘ gazumped’ . Campaign group HomeOwners Alliance says the new figure is up from 47 pc last year.

Buyers can protect themselves by taking out ‘ home buyers protection’ insurance.

Ryan Fulthorpe, home insurance expert at GoCompare, says: ‘Home buyers protection offers customers peace of mind and secures against gazumping.’

Policies cover some of the loss of legal, valuation and mortgage administration fees.