New build structural warranty

SteveBC75

Hi All,
 I am looking for some advice in purchasing a New build structural warranty. I built the property approximately four years ago and have been living in the house since new. The house is not covered by NHBC, not something I had considered at the time unfortunately. Now looking to sell the house but require a structural warranty in place . Any advice on available providers and relative merits would be great. Many thanks Steve

pinkteapot

I don't *think* NHBC offer warranties on already-complete houses (someone else will correct me if I'm wrong). Two of the other big names you hear are LABC and Premier. Both do offer warranties:

https://www.labcwarranty.co.uk/builders-developers/completed/ 
https://www.premierguarantee.com/our-services/structural-warranties/completed-housing-warranty/ 

Our new-build has a Premier guarantee. Not ideal as their reviews are atrocious (always a reason not to pay a claim), but then if you're just taking out so you can sell the house you don't care about that. I'd just go with whoever's cheapest!

You only need it because lenders will require it if your buyer is getting a mortgage. I know Premier is accepted by most, if not all, lenders. Google to check on LABC (I only know about Premier because we have our warranty). If you use a smaller company, just do some research into whether it'll be acceptable to lenders.

eddddy

SteveBC75 said:

 Any advice on available providers and relative merits would be great.

You may have limited choices in your situation.

You're essentially looking for somebody to insure you / your house against  'mistakes' being made when it was built - either by poor workmanship or using poor materials. So considerations include...

• Was it literally you that built it (if so, do you have a track record of house building?) - or did you use a building contractor with a track record, etc? Things like the builder's track record will affect the cost of the warranty. The better their track record, the lower the cost.

• Ideally, a warranty provider would want to inspect the site before you started, inspect the foundations etc. But some will provide retrospective cover - at a much higher cost, to reflect the higher risk.

• On the plus, side the house has been standing for 4 years - hopefully without any structural problems emerging. So that should reduce the likelihood of future structural problems.

You will probably find a warranty provider who will insure the house, but the cost might be very high - because of the reasons mentioned above.

The most important factor is choosing a warranty provider who most mortgage lenders will find acceptable.