Selling 6 Year House With No NHBC

gr1340

Hi all,

I will soon be selling my house.

It is 6 years old but has no NHBC, Architect or other certificate. I got a mortgage with Halifax without a problem (previous owner was with them so the precedent had been set).

Obviously this may put some people off but does anyone know of any other mortgage lenders that will give a mortgage on this property?

Its not like the Halifax are an unknown place so I feel happy that one big lender are ok but it would be good to have a few more under my belt.

Many thanks

Gary

PasturesNew

At which point when you were buying did you find this out? Did the seller start off on Day 1 by steering you towards the Halifax?

What I am getting at is: how was it marketed/sold to you that held your interest so you didn't run away?

merlinthehappypig

Just as a matter of interest why would this put anyone off?

I can understand someone wanting NHBC/Architects certificates on a new build, but people buy older houses all the time.

I've no axe to grind at all, just interested why a six year old house with no certificate would be a problem when presumably an 11 year old one would be o.k. as NHBC only lasts 10 years and architects 6 years, I think.

gr1340

We found out later on in the sale.

I done my own investigation and found out who built it and spoke to them. I discovered there was no guarentees or certificates but we liked the house so much, we decided to go ahead. After speaking to a couple of mortgage companies we nearly pulled out but we then found that the current owners were mortgaged with Halifax, problem solved.

I can only see people being put off as there is a lack of companies willing to lend on it. That said, Halifax are one of the biggest, if the not the biggest lender so we have that going for us at least.

It would be good to have a list of others though.

scope

Im not sure if the NHBC certificates is worth much after the first 12 months, the list of exclusions certainly grow the older the house is. Ours is 7 years old and unless the wall falls down its of no use to us.

I certainly wouldnt worry too much about it.

Porky996T

If memory serves me right the Council of Mortgage Lenders only brought in the requirement for warranties on new builds in late 2003. Prior to that it wasn't a necessity for a mortgage application and it was provided as carrot by the larger housebuilders to indicate their quality and assist in sales & marketing strategy.

Generally with CML warranties the three big providers are:-

NHBC - most well known
Zurich - yes, the insurance company
Premier Guarantees

All of them cost the builder around £1,000 each (depends on size of property and "no claims bonus" of builder), last for 10 years and any claims in the first 2 years of completion and sign off are the builders issue, not the warranty provider.

I have no experience of Architects Certs at all - always used NHBC or PG.