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Life insurance important when changing houses

Date: Wed, 08 Feb 2006

Homeowners are being advised to make sure they have adequate life insurance cover when moving up the property ladder.

A new service from the Land Registry is hoping to make the property moving process easier via an online website; however, house buyers should remember to make sure their financial affairs are in order before upgrading their house.

The new e-conveyancing system will be trialed between autumn 2006 and spring 2007 and will allow conveyancers, their clients and selected estate agents to view the progress of property transactions in property chains online. It is hoped that the website will outline any particular delays as well as the reasons behind them.

Liz Hirst, director of the e-conveyancing programme, said: "Everyone who has ever bought a house knows how fraught the process can be. We believe that about a quarter of residential chains fall apart at the moment, and our online chain matrix service aims to reduce this misery.

"The prototype will test how easy the chain matrix is to use, and help us to assess what impact it will have for our customers," she added.


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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.