hmpmarketing Posted November 4, 2016 Share Posted November 4, 2016 Hi All, I am about to start foundation works in a couple of weeks and I need to start looking for Structural Warranty as from what I understand, it is a requirement if I ever want to sell the houses in the future as any buyers looking to buy with a mortgage, lenders will require this. To be honest, I was surprised that I had to have this, my House builder (DanWood) provides a “Structural guarantee” of 20 years, but I believe this is not the same. I'm building 2 houses (SIPS based), both of them for my family to live. Building Control has already validated all documentation (I paid for a private BC, London Building Control). Could anyone point out the cheapest/widely accepted providers out there that most lenders would recognize? At the moment I have only quoted for site insurance, also wondering if I get it together would be any cheaper. Thank you all for the support! Link to comment Share on other sites More sharing options...
Mikey_1980 Posted November 4, 2016 Share Posted November 4, 2016 LABC were cheapest when we looked and have been great to deal with and have a wide acceptance in the mortgage market. The other we looked at were BuildZone, NHBC, CRL Link to comment Share on other sites More sharing options...
nod Posted November 4, 2016 Share Posted November 4, 2016 10 hours ago, hmpmarketing said: Hi All, I am about to start foundation works in a couple of weeks and I need to start looking for Structural Warranty as from what I understand, it is a requirement if I ever want to sell the houses in the future as any buyers looking to buy with a mortgage, lenders will require this. To be honest, I was surprised that I had to have this, my House builder (DanWood) provides a “Structural guarantee” of 20 years, but I believe this is not the same. I'm building 2 houses (SIPS based), both of them for my family to live. Building Control has already validated all documentation (I paid for a private BC, London Building Control). Could anyone point out the cheapest/widely accepted providers out there that most lenders would recognize? At the moment I have only quoted for site insurance, also wondering if I get it together would be any cheaper. Thank you all for the support! Im at the same stage LABC 3100 Buildzone 2083 Both recognised by most lenders We are going to the self build show tomorrow to if they will do a on the day discount Protek are another that seems well recognised but no quote as yet We need to take one of them this weekend as we are starting foundation later next week Bit of a con really they rarely pay out If I was buying I would feel more assured with an architects cert But quite a few of the mainstream lenders don't recognise a architect cert Ill let you know which way we jump tomorrow Gary 1 Link to comment Share on other sites More sharing options...
hmpmarketing Posted November 5, 2016 Author Share Posted November 5, 2016 (edited) 7 hours ago, nod said: Im at the same stage LABC 3100 Buildzone 2083 Both recognised by most lenders We are going to the self build show tomorrow to if they will do a on the day discount Protek are another that seems well recognised but no quote as yet We need to take one of them this weekend as we are starting foundation later next week Bit of a con really they rarely pay out If I was buying I would feel more assured with an architects cert But quite a few of the mainstream lenders don't recognise a architect cert Ill let you know which way we jump tomorrow Gary Hello Gary, Thanks for your input, please let me know how it goes, if you get a good deal I may as well jump in! By the way, the quotes numbers you got (3100/2083), how big / $ your house is? My build is 180m2 (although 2 properties side by side). I have quoted site insurance from Protek, the most affordable I could find. Cheers Edited November 5, 2016 by hmpmarketing Missing question Link to comment Share on other sites More sharing options...
PeterW Posted November 5, 2016 Share Posted November 5, 2016 Buildzone came in at just shy of £2k inc BCO for me, that is part conversion (20%) and mostly new build for a 165sqm room in roof property. Found that using Buildzone for BC was cheaper as it subsidises the surveying for the warranty ! Link to comment Share on other sites More sharing options...
ProDave Posted November 5, 2016 Share Posted November 5, 2016 Remember you only "need" this if you sell within 10 years. After that, any warranty would have expired and therefore it would not be an issue. I paid for NHBC solo for self build on the present house in case we sold it. That expired last March so was a "waste" of money. I enquired about the same for the new house and the costs had gone up a lot, so on the basis we are building as a retirement house, not to sell, I have not bothered. The only bit of paper I am interested in is a building control completion certificate. Link to comment Share on other sites More sharing options...
mike2016 Posted November 5, 2016 Share Posted November 5, 2016 Isn't there still a use case for this if you find defects during those 10 years? Otherwise you've to sue your Architect's Professional Indemnity to get anywhere which is much harder. I would hope if you're on-site a lot you won't have any issues but one cowboy tradesman / builder and you could have nowhere to go.....I like the fact they send out inspectors as in ROI there are next to none from the council - better chances of winning the lottery so at least I'd have someone independent looking for issues.....like all insurance, it equates to your appetite for risk I suppose.....I've a low threshold...! Link to comment Share on other sites More sharing options...
Ashburyselfbuild Posted November 5, 2016 Share Posted November 5, 2016 My daughter works for an estate agent, I asked her if it was ever a problem with properties 10 years old and younger not having a warranty in place. She said that it happens quite regularly, the vendor then pays for an indemnity at around £125 - £150 and the mortgage applications and sale proceed without problems. If you are not intending selling, is a warranty worth paying for? or do you just pay up a much lesser amount should you decide to sell within 10 years? 1 Link to comment Share on other sites More sharing options...
nod Posted November 6, 2016 Share Posted November 6, 2016 16 hours ago, hmpmarketing said: Hello Gary, Thanks for your input, please let me know how it goes, if you get a good deal I may as well jump in! By the way, the quotes numbers you got (3100/2083), how big / $ your house is? My build is 180m2 (although 2 properties side by side). I have quoted site insurance from Protek, the most affordable I could find. Cheers Hi my house is 253 sq mtrs and also a detached d garage Buildzone said that they will knock me something off on Monday Could be 50p But hey It all helps Protek were 2k Site insurance is 500 for 12 months Prices don't include Building control I chose my local counsel for convenience Will keep you posted Gary 1 Link to comment Share on other sites More sharing options...
Fallingditch Posted November 6, 2016 Share Posted November 6, 2016 I am building in floodzone 3a, with trees, on an insulated concrete slab (so its considered more risky). When I went for quotes, there was a wide variety in cost, and time to process. After trying a few, Premier Guarantee turned it round quickly, and just over the £2k mark, without requiring extra surveys etc. 1 Link to comment Share on other sites More sharing options...
hmpmarketing Posted November 6, 2016 Author Share Posted November 6, 2016 9 hours ago, nod said: Hi my house is 253 sq mtrs and also a detached d garage Buildzone said that they will knock me something off on Monday Could be 50p But hey It all helps Protek were 2k Site insurance is 500 for 12 months Prices don't include Building control I chose my local counsel for convenience Will keep you posted Gary Gary, really appreciate man, lets keep in touch, we are on the same page :-) So your house is way bigger than mine, maybe this would lower the cost significantly. 500 for site insurance is quite cheap, lowest I got was 1250, but then I am building 2 properties, so the final reinstate value is a bit higher than most. Did you go with protek for site insurance? Keep me updated regarding warranty, I will try to chase it down Link to comment Share on other sites More sharing options...
hmpmarketing Posted November 6, 2016 Author Share Posted November 6, 2016 2 hours ago, Fallingditch said: I am building in floodzone 3a, with trees, on an insulated concrete slab (so its considered more risky). When I went for quotes, there was a wide variety in cost, and time to process. After trying a few, Premier Guarantee turned it round quickly, and just over the £2k mark, without requiring extra surveys etc. Thanks for your feedback, I will add Premier to my list Link to comment Share on other sites More sharing options...
hmpmarketing Posted November 6, 2016 Author Share Posted November 6, 2016 (edited) 23 hours ago, ProDave said: Remember you only "need" this if you sell within 10 years. After that, any warranty would have expired and therefore it would not be an issue. I paid for NHBC solo for self build on the present house in case we sold it. That expired last March so was a "waste" of money. I enquired about the same for the new house and the costs had gone up a lot, so on the basis we are building as a retirement house, not to sell, I have not bothered. The only bit of paper I am interested in is a building control completion certificate. I did go to NHBC website, seems there is no product for self-builds anymore What if we were to sell it AFTER 10 years? I mean, would you have any issues with buyers and lenders, if the original warranty will inspect all work from foundations on? Edited November 6, 2016 by hmpmarketing Link to comment Share on other sites More sharing options...
hmpmarketing Posted November 15, 2016 Author Share Posted November 15, 2016 FYI, got a quote back from Premier, 2.3k, 180m2 house, really thought it would be a bit cheaper! Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now