Mortgage Advice Bureau (MAB) has launched an exclusive ‘Mover Protection’ package, designed to safeguard mortgage applicants if their transaction fails for reasons beyond their control.

Anyone arranging a mortgage through an MAB adviser – whether they are buying a first home, moving house or remortgaging an existing property – can now protect themselves against financial losses in a range of unforeseen circumstances.

Buyers can receive up to £1,850 compensation for legal, survey and mortgage arrangement costs if the seller withdraws or accepts another offer. The same applies if a search or survey reveals something that prevents them from completing the purchase. Up to £720 is on offer if external events stop a sale or remortgage from going through.

Mover Protection is provided exclusively for MAB clients by Lifetime Legal and comes with a range of packaged benefits. These include complementary standard single Will or Mirror Wills to ensure valuable assets are passed on to loved ones, with estate planning advice and written recommendations for complex cases.

It also provides “unlimited impartial telephone advice” from Which? and Lifetime Legal’s panel covering topics such as moving home, employment issues and neighbourhood disputes, as well as access to a digital document vault allowing customers to store important legal, mortgage and protection documentation in a single secure location.

MAB said the supporting benefits are also available to customers who take out protection products without an accompanying mortgage through an MAB adviser.

Peter Brodnicki, MAB chief executive, said: “This unique package of benefits has been designed specifically for MAB advisers and ARs. The client is not charged for the product, with Mover Protection included in the fee advisers charge.

“As well as a financial safety net, the package includes a range of further benefits to provide advice and security to our customers. The initial feedback from advisers and clients has been excellent, and Mover Protection has without doubt increased leads and sales already, as well further improving the customer experience.”