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Retrospective Warranty

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  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I can appreciate that but if the 'Insurance' covers the cost of any possible rebuild, then whether its retrospective or not, if the Insurance/warranty is in place, I can't see why they would refuse it ?

    Providing that the structural warranty is issued by a Company on the lenders approved list. You should be fine.
  • Howmac
    Howmac Posts: 2 Newbie
    Name Dropper First Post
    @TheBeast did you manage to get this resolved? We are going through a similar process at the moment. 
  • russ_fae_fyvie
    russ_fae_fyvie Posts: 6 Forumite
    First Anniversary First Post
    edited 15 June 2020 at 8:26AM
    I did I got a Warranty from ICW which was accepted by the Mortgage company. We still couldn't get an Equity Release Mortgage so ended up with an Interest Only Mortgage over 5 years so in 4 years time we will have to go through it all again !!
  • Howmac
    Howmac Posts: 2 Newbie
    Name Dropper First Post
    Thank you @russ_fae_fyvie do you mind me asking which lender accepted this as I believe that is the only option for us. 
  • Yeah it was Chorley Building Society.
  • I can appreciate that but if the 'Insurance' covers the cost of any possible rebuild, then whether its retrospective or not, if the Insurance/warranty is in place, I can't see why they would refuse it ?

    Providing that the structural warranty is issued by a Company on the lenders approved list. You should be fine.
    According to our mortgage broker, who has proactively reached out to a number of high-street lenders for us, if the warranty is retrospectively undertaken they do not accept it (this being regardless of whether the “standard” warranty product is one on their approved lists). There are apparently some smaller building societies that do so but it is very much pot luck apparently...
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