HLPP
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With a backdrop of constrained lending and increased levels of risk, the mortgage industry faces challenging conditions, and an uncertain outlook.
The Home Loan Protection Policy (HLPP) is a new insurance policy from First Title designed specifically to help lenders reduce risk on loans to homebuyers.
Benefits of the HLPP
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Protects lenders against loss due to fraud and forgery, including solicitor participation in fraud
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Automatically includes insurance for all legal indemnity risks that a lender’s CML handbook instructions require
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Any known risks discovered during due diligence are added free of charge
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Offers the most comprehensive cover in the market for lenders against unidentified risks during the conveyancing process
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Competitive pricing
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No need for lenders to worry about aggregation and taint issues as the HLPP insures the lender, not the solicitor
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Offers real advantages for the ongoing management and control of lender panels by reducing risk and potential losses from professional mortgage fraud
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Homebuyer has the option to upgrade to a HOPP which also offers unbeatable protection against home ownership risks such as boundary disputes, fraud and forgery and unauthorised occupation by squatters
In the event of a claim
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Proof of loss or potential loss, not proof of negligence, required to trigger a claim
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Claims settled in less than six months on average
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All associated legal expenses are covered by the insurance policy
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More information
For further information about how the HLPP will help reduce risk across your mortgage lending, to discuss your specific needs and how the HLPP can be adapted to meet them, or to hear about how other lenders globally are using this type of protection to transform their lending operations, please complete the following basic enquiry form or email us at poldcorn@firsttitle.eu and we will make contact to arrange a meeting at your convenience.
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To fill out an enquiry form...click here
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To view the official HLPP press release...click here
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To read some of our lender claims examples...click here
This material is intended to provide general information only. For specific coverage and exclusions, refer to the relevant policy wording.