Sicher

This makes sense - yes, and I wouldn’t class that at as a retrospective policy. I think the definition of retrospective refers to exactly what you mention at the end - not being involved and then just paying for a warranty. I would strongly advise against doing the latter as it seems to be almost impossible to get financing for (at least through the traditional lender route). So as a seller you may become restricted. Thanks!

Any chance you could potentially share this? My understanding is that the CML document does NOT distinguish between “retrospective” or “as-built” structural warranties. What this means is that lenders which are on the CML list may accept a structural warranty that was provided upon completion of the build but would refuse a retrospective warranty that say was issued 2 years post-build. I am speaking from direct experience dealing with this exact situation. Our lender (Barclays) is on the CML list as accepting BuildZone 10yr warranty. However upon receipt of the warranty, Barclays has said this was issued 2-years post completion (ie retro) and has rejected our application. We have reached out to a couple other high street lenders who are on the list but categorically refuse to deal with retro. So my question is: does this CML list / document distinguish between the different products?

do NOT do this. As a buyer of a property that has just had its retrospective warranty issued we have found that almost none of the bulge bracket high street banks (Barclays, Natwest, Halifax) are willing to consider a retrospective warranty which has left us with uncompetitive quotes from much smaller building societies. Even our mortgage broker was hugely surprised to find this out. Do your research to be on the safe side...

Hi all, First time posting so apologies if I’m the wrong place. Long story short, I am about to purchase a new build semi-detached property that was built/completed about 2 years ago (Greater London). The developer/seller kept onto the property and rented it until today. BuildZone was recently engaged by the developer/seller to provide a 10yr structural warranty. The warranty certificate was recently issued, which was passed on to Barclays (our Lender) who had requested this before extending a mortgage offer. Barclays/underwriter came back saying the application was rejected based on the fact the warranty was done retrospectively (!) and won’t entertain it. Bizarrely no where in the warranty cover note does it say that the diligence was undertaken retrospectively. The surveyor has merely deciphered this from the delay in it getting issued and the fact the cover was only issued very recently and it is clear the build was complete a couple of years ago. Our mortgage broker has reached out to NatWest and Halifax opportunistically to get their appetite but alas they have outright refused to deal with so called “retrospective” structural warranties. Anyone aware of lenders that deal with these? Seems counterintuitive to me that these above mentioned lenders are on the CML list of approved lenders for BuildZone but that they apply some subjectivity to what type of warranty it is. Either the cover is there or it isn’t... I can’t see a market for these types of warranties if this is the case! Just for cash buyers!? thank you!