April 22, 20215 yr 2 minutes ago, Russell griffiths said: If you have a mortgage you will need a warranty. By by £3000. That’s.....cheered me!
April 22, 20215 yr 5 minutes ago, DragsterDriver said: That’s.....cheered me! While I’m sitting here with a mild dose of man flue I thought I would spread some of my pain around. Enjoy.
April 22, 20215 yr We have Structural Warranty quote of £1900 premium and £1700 for site visits. £3600 for a build less than 200 sq m!! It is supposed to be our forever home but you never know what life throws at you so luckily as no mortgage is involved we will not bother and if we have to sell will look at buying retrospectively if required by the purchaser. Edited April 22, 20215 yr by Happy Valley
April 22, 20215 yr 2 hours ago, Russell griffiths said: If you have a mortgage you will need a warranty. By by £3000. Ecology told me two days ago they don't require a warranty
April 22, 20215 yr I have no structural warranty, I cannot believe that building to building regs with formal visits from the BCO means nothing. If I have to sell I will be looking for a company that supplies one retrospecfully.
April 22, 20215 yr Just been speaking with an insurer and a retrospective policy could be in the region of £8000 to £10000! Like all insurances - it's up to you whether you want to take on the risk if you don't insure.
April 22, 20215 yr 37 minutes ago, Tom said: Ecology told me two days ago they don't require a warranty They don't at the outset but our solicitor had to confirm we'd have an NHBC guarantee or equivalent on completion, one of their standard terms. Not sure they'd check or enforce it though.
April 22, 20215 yr They will tell you that retrospective warranties are expense because they are trying to sell you one now! Others have purchased one for not much more than an upfront one but may not be accepted by all lenders ... I have decided on a PCC for about £1200. It has some limitations but it will be issued by the structural engineer who has done the design. He is carrying out regular inspections to make sure the house is built properly.
April 22, 20215 yr 38 minutes ago, eandg said: They don't at the outset but our solicitor had to confirm we'd have an NHBC guarantee or equivalent on completion, one of their standard terms. Not sure they'd check or enforce it though. Hmmm, seems contrary to what they told me - and I asked the question twice to be absolutely sure. They require insurance for the build as it progresses but were adamant (in writing!) that I wouldn't need a warranty. I just don't want to shell out 3.5k for something that I will likely never be able to claim on anyway.
April 22, 20215 yr 11 minutes ago, Tom said: Hmmm, seems contrary to what they told me - and I asked the question twice to be absolutely sure. They require insurance for the build as it progresses but were adamant (in writing!) that I wouldn't need a warranty. I just don't want to shell out 3.5k for something that I will likely never be able to claim on anyway. Looking at the email from the solicitor it appears to be a stipulation set out in their "Standing Instructions". However, if you need a mortgage now won't you subsequently be remortgaging once the build is complete? In which case you'd want some form of structural warranty to obtain a mainstream mortgage.
April 22, 20215 yr 2 hours ago, Tom said: Ecology told me two days ago they don't require a warranty That’s good, I don’t think they are worth the paper they are written on.
April 22, 20215 yr 1 hour ago, eandg said: Looking at the email from the solicitor it appears to be a stipulation set out in their "Standing Instructions". However, if you need a mortgage now won't you subsequently be remortgaging once the build is complete? In which case you'd want some form of structural warranty to obtain a mainstream mortgage. True, but most mainstream lenders will accept an Architect's Certificate (or similar).
April 22, 20215 yr 1 hour ago, Tom said: True, but most mainstream lenders will accept an Architect's Certificate (or similar). It may be that the cert provides an 'equivalent' to NHBC - hadn't realised you had one.
April 22, 20215 yr 2 hours ago, eandg said: It may be that the cert provides an 'equivalent' to NHBC - hadn't realised you had one. I don't, I plan to cross that bridge when it comes to it! Just sticks in the craw having to pay £1,800 alone for some guy to come and "inspect" when building control are doing that anyway.
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