HSBC require Structural Defects Warranty as condition of sale?

gjrichards10

Is this the norm with all lenders? Has anyone else had to obtain one of these from seller recently?

Our seller is confused, never heard of one and seems to think they need architects certificate although HSBc specify this is not acceptable.

Any idea guys? Any help or advice?

Thrugelmir

Are you looking to purchase a self build property?

gjrichards10

sorry to sound a bit dipsy but do you mean purchasing from someone who has built the house themselves?

Basically a local developer build up to 20 homes around 6 years ago. One of those is now selling to us privately?

betmunch

Isnt this the NHBC Guarentee?

If you cant get what they want, and what you can get doesnt satisfy them then you need to look at another lender.

kingstreet

IIRC the options for a newbuild were NHBC, Foundation 15 (Municipal Mutual) or an Architect's Certificate with the latter backed up by the architect's PI cover.

I don't think F15 is available these days.

The important issue here is what the builder provided to buyers when the houses were first built.

betmunch

kingstreet wrote: »

The important issue here is what the builder provided to buyers when the houses were first built.

And what HSBC will accept by the looks of things

kingstreet

betmunch wrote: »

And what HSBC will accept by the looks of things

Aye. I was just taking it one step at a time. Let's find out what came with the house when it was first built, before we start worrying about lenders...