New build warranty - mortgage acceptance

andy1988

Hi all, I originally posted this in the housing section but was advised to re-post it here. I'm a bit stuck on the below issue and not really sure where to turn, any help would be greatly appreciated.

I'm about to start building a house and have compared various warranty providers. I've narrowed my choices down from 12 to 2; either Protek or Build Store. However, I've not been able to find reliable information regarding how well accepted these are amongst mortgage companies. Self-build mortgages are very expensive on fees/interest so I've managed to fund this through savings and a personal loan (it isn't a big or expensive house). As a result, I won't be mortgaging it until it's fully built (maybe 1-2 years), so I can't confirm which mortgage company will be used in order to ask them which policy they accept.

Can anyone give any advice or experience about working with and mortgage acceptance of either the "Protek Basic Warranty" or the "Buildstore New Home Warranty", please? A mortgage broker that I intend to use has been of no assistance in relation to the warranty. Due to my circumstances if things go wrong an absolute last resort may see me renting the house out; so a buy to let mortgage might be needed.

Thanks in advance for any help that you can offer,

Andy

P.S. The Protek warranty covers the whole 10 years, the Build Store requires 2 years latent defects where the builder is liable then 8 years of warranty. I feel the full 10 years cover may be an advantage if I were to have to rent the house out, but I'm not sure. I trust the builder so the latent defects period doesn't concern me if the policy is more widely accepted.

[Deleted User]

https://lendershandbook.ukfinance.org.uk/lenders-handbook/

Search by lender, view Part 2, your warranty info is in section 6.7

Your broker really should have been able to help you with this.   It forms part of basic lender research when placing a case with a newly built home.  

Also, http://www.protekselfbuild.co.uk/lender-approval/

andy1988

Deleted_User said:

https://lendershandbook.ukfinance.org.uk/lenders-handbook/

Search by lender, view Part 2, your warranty info is in section 6.7

Your broker really should have been able to help you with this.   It forms part of basic lender research when placing a case with a newly built home.  

Also, http://www.protekselfbuild.co.uk/lender-approval/

Thank you, I think the issue was that I am unable to nominate a mortgage company yet. Rates/offers, etc...are likely to change before I complete the house so it's really a case of me trying to ascertain which warranty will be the most widely accepted, and then hoping the best deal available at completion of the build accepts my chosen provider. Your links were very helpful and reassuing regarding the Protek warranty, it is the preferred product at the moment.