Structural warranties for completed housing developments
Completed Housing Warranty
If you’re selling housing that’s been built within the last 7 years and it does not have a structural warranty in place, mortgage lenders will insist that you get one before they will release funds to your buyers.
The warranty provider will undertake a full structural survey of the existing building and identify any building defects prior to policy inception. These can then either be rectified or excluded from the cover.
Example:
If you built a block of 8 flats 4 years ago and are now intending to sell, a structural warranty is required by mortgage lenders who are providing finance to each new purchaser. Or, if you decide to refinance your existing loan with another mortgage provider, that lender will require a structural warranty.
Easy steps to your ideal completed housing warranty:
- Request a quote
- Accept a quote
- Register the existing development
- Payment of survey fees
- Full plan check/ specification check by technical team
- Existing defects noted and either rectified or excluded from cover
- Policy issued on whole site or individual units subject to approved building regulations
Key features of a completed housing structural warranty
- Can be arranged by either the vendor or purchaser of the property
- Available for the balance of 10 years from the date of completion - Builders Regulation sign off
- Fast turnaround from survey to the inception of cover (usually 14 working days)
- Covers the cost of complete or part rebuilding in the event of a defect or structural failure
- Covers professional fees (Architects/Engineers)
- Recognised by lenders and complies with the CML initiative
- Fast “registration” turnaround
- No registration fees
