SPECIAL FEATURE: Pioneering platform ClozeSure launches to protect conveyancer’s clients and enhance service offering

ClozeSure is a pioneering new solution designed to support conveyancers, agents and home sellers in managing the risks associated with property transactions, particularly during the vulnerable period between exchange and completion.

“Whilst the risk of buyer failure post-exchange is fairly small, the consequences for conveyancer’s clients can be devastating” comments founder Peter Thompson.

Acting as a safeguard, ClozeSure is the first-of-its-kind product that guarantees sellers 100% of their agreed sale price if their buyer fails to complete after exchange. This provides total certainty and peace of mind for sellers from the moment they exchange, during what is typically the largest and most stressful financial transaction of people’s lives.

For conveyancers, ClozeSure offers a unique opportunity to enhance client care and reduce post-exchange risk exposure.

Sellers agree to a modest fee (just 0.06% of the sale price, typically a few hundred pounds), which is payable on completion. If their buyer pulls out, ClozeSure steps in the same day as the new buyer of the property, paying 90% of the agreed sale price, with the remaining 10% deposit forfeited by the original buyer to the seller.

ClozeSure is founded by a veteran leadership team including founder Peter Thompson, formerly of St. James’s Place Wealth Management, and co-Founder Phil Beville, also of St. James’s Place Wealth Management, Credit Suisse First Boston and Microsoft. They are supported by an expert team with deep financial services, property services and technology expertise.

“ClozeSure is the kind of protection you hope you’ll never need but when a transaction unexpectedly unravels, it’s there to absorb the shock. It removes the logistical headaches, financial loss, and emotional strain that come with a failed completion, especially for clients caught in a chain.”

“It’s a low-cost safety net that most sellers won’t generally have to use, but one they’ll be incredibly relieved to have if the worst happens. For conveyancers and agents, ClozeSure significantly strengthens your client proposition” adds Peter Thompson.

This new offering addresses a long-standing gap in the market by providing a layer of protection for sellers – especially those involved in chains or probate sales – while simultaneously enhancing the service proposition of conveyancers.

ClozeSure is actively partnering with conveyancing firms, estate agencies and property portals to bring this solution to market. By tackling one of the most stressful aspects of the property transaction process.

ClozeSure empowers professionals to offer a more robust and reliable service to their clients. To find out more, please visit www.clozesure.com

Kindly shared by ClozeSure