See below all our frequently asked questions from some of our customers, if we still haven’t answered your question then be sure to get in touch with us and our team will be happy to help.
What is a Building Warranty?
A Building Warranty is an insurance product that pays for the cost of rectifying structural or latent defects to the building which are covered under the policy.
A building warranty is also referred to as a Latent Defects Policy.
How long does a warranty last?
10 years from Building Regulation Completion Certificate, for domestic residential properties and 12-Years for Social Housing and Commercial properties.
Why should I buy a warranty?
The vast majority Mortgage Lenders in the UK will require a Structural Warranty to be in place before they lend money to either purchase a property (that is under 10 years old) or to refinance an existing loan.
A warranty adds value and saleability and peace of mind.
How do I obtain a 10 year warranty?
We use a very simple 7 step application process:
Initial enquiry by web or phone
Completion of enquiry by phone with one of our experienced Account Handler
Issue of quotation for 10-Year Warranty
Acceptance and Payment of all survey fees/premium
Structural Survey/Technical Audit(s)
Confirmation of terms of warranty and advice of any remedial works
Issue of policy certificates
How long will it take to get a warranty?
Generally, 48 hours to 2 weeks, dependent on the supporting information and size of the project.
Mortgage Lender Requirement?
All mainstream mortgage lenders will require a structural warranty for a property when it is sold or remortgage less than 10 years old.
Still haven’t answered your questions? Get in contact with us today and we will be more than happy to help.
Building Warranties was set up in 2009 to assist Builders and Developers to access alternative Warranties in a changing market place. Our success is due to our in-depth knowledge of the Insurance market and our understanding of the construction industry.