Mortgage Lenders that don't require an NHBC.

AlfieFD

Can anyone offer advice on mortgage lenders that do not require an NHBC on a newly built property. The property was built by a small independent building company with a good reputation and they say that the Completions Certificate that they can provide is better than an NHBC. But the first lender that I spoke to (NatWest) didn't agree and said they would have to have an NHBC or equivalent.

harvey115

A new build not from a big developer usually do not have NHBC certification.

I would think in such cases a mortgage offer would be subject to home insurance covering the recommended amount mentioned by the valuation officer. Although all Mortgage Offers would require an Insurance policy for the home to be signed on the date of completion/exchange. I would have thought this should be enough for the lender to consider in place of an NHBC certificate.

kingstreet

Normally, it's NHBC or Architect's Certificate for a mortgage.

May be worth talking to a whole market or independent broker. I've just been through the lending criteria of Halifax, Abbey and Nationwide and not one of them mentions it there. I'm sure they will have a requirement for certification of some type, but they don't mention it like they used to...

Senior_Paper_Monitor

My recollection of a very recent Woolwich application is they ask the question and include this option on the selection list - ergo presumably they do accept it.

I can't see it in their criteria and the application form when printed just showws which one was selected.

Frankly this is not an issue that has arisen for me in the last few years - hence I was surprsied when it popped up on the Woolwich application (we try to avoid using them where possible and don't do many newbuilds either) - so not sure how what various lenders attitude is (now off to add another section to the criteria matching database as a result !!!)

liubeliu

Isn't a CML certificate required for a new build before a lender releases funds. One route for this is a successful NHBC inspection sign-off. There may be other routes for getting this.

Not an authority but recall this happened on my new build purchase

ACG

What do you have?

there are a number of different certificates available - you need to have something but once we know what you have if anything we can maybe look at where to go.

AlfieFD

Thanks for all your replies.