Alternative to NHBC warranty

Terry_Scott

I am buying a bungalow that was built by a local builder in the Hertfordshire. The property is less than 2 years old.
My mortgage company want some form of warranty on the property. As a local builder the guy has an architects certificate.
I am looking for the most efficient way to satisfy the building society on this one.
Any ideas please? I am happy to provide a few more details.

marksoton

Anything suggested on here might not be acceptable to your lender.

You really need to go back to them and ask what documents will satisfy them.

Terry_Scott

Premier, LABC, BLP, Castle 10 and Build Zone.
Has anyone had experience of these?
Thanks

joeistheone

If you have already chosen a lender, you can look up the CML handbook for that lender to see what warranties they accept.

eddddy

Terry_Scott wrote: »

Premier, LABC, BLP, Castle 10 and Build Zone.
Has anyone had experience of these?
Thanks

Are you sure that all these companies offer warranties on homes that are already completed?

Normally, warranty companies have very strict technical specifications that the builder has to follow, and the warranty company will want to inspect during the build (e.g. inspect the foundations etc),

e.g. See: http://www.premierguarantee.co.uk/technical-manual-v11/
and: http://www.labcwarranty.co.uk/technical-manual


Having said this, it looks like this company offers warranties for completed buildings: http://www.build-zone.com/CompletedProperty.html

But I would expect some major hoops to jump through and/or some major exclusions.

(On the surface, it sounds foolish for a company to offer a 10 year structural warranty on a building when they can't be sure how deep the foundations are, what size steel joists were used etc.)

Terry_Scott

Thanks
Yes, buildzone do retrospective ones.
The cost is £2500/£3500

How do people get round mortgages on newer houses that are not built by a big company with NHBC certificates?

davidmcn

Terry_Scott wrote: »

How do people get round mortgages on newer houses that are not built by a big company with NHBC certificates?

Exact requirements vary, but most lenders accept a certificate from a professional consultant who has monitored the build. Buying a retrospective warranty isn't a normal way of going about things.

Thrugelmir

Terry_Scott wrote: »

How do people get round mortgages on newer houses that are not built by a big company with NHBC certificates?

You answered your own question in post #3. By doing so at the outset.