We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying a 7 Year Old House Without a Warranty
Options

Tuffers1875
Posts: 3 Newbie

Hi, my first post but I feel the need for some assurance. I'm in the process of buying a 7 year old house. It's on a small development of 12 houses. It had a 10 year warranty supplied by the builder but the builder went bust a few years ago and all warranties became void. I know a few of the residents through my business and they didn't bother to get another warranty to cover them for the rest of the term. One resident did buy a warranty and it cost him something like £4k. I'm buying the property without needing a mortgage. My solicitor said that if I did need a mortgage the property would have to have a warranty before I could buy it. I'm thinking of going ahead and buying it anyway. I did have a survey done on it a few months back. My only concern is if the footings etc are good.
What would you do?
What would you do?
0
Comments
-
Only you can assess the risk.But for others reading this, always ensure any warranties are insurance backed. Then if the developer/whoever goes bust the insurance company steps in.1
-
one consideration is if you want to sell it within three years i.e before the 10-year warranty period you might find a problem1
-
TBH a ten year NHBC guarantee (most commonly used in UK) doesn't really cover much, if its 7 years old and its still standing I wouldn't bother. Have a read of this New Home Warranties - What Do They Cover? - HomeOwners Alliance (hoa.org.uk)"You've been reading SOS when it's just your clock reading 5:05 "5
-
Why can't the vendor get insurance and transfer it to you on sale completion ? That way you have insurance, you are not paying for it and you aren't just taking a chance that everything will be ok.1
-
I've probably bought 15-20 properties over the past 50+ years, none without any form of warranty.
Never regretted doing so. Saved the extra cost of the warranties.1 -
subjecttocontract said:Why can't the vendor get insurance and transfer it to you on sale completion ?1
-
user1977 said:subjecttocontract said:Why can't the vendor get insurance and transfer it to you on sale completion ?1
-
user1977 said:subjecttocontract said:Why can't the vendor get insurance and transfer it to you on sale completion ?1
-
Olinda99 said:one consideration is if you want to sell it within three years i.e before the 10-year warranty period you might find a problem0
-
subjecttocontract said:Why can't the vendor get insurance and transfer it to you on sale completion ? That way you have insurance, you are not paying for it and you aren't just taking a chance that everything will be ok.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards