Warranty/ Architects certificate - anyone heard of this company?

[davejura]

https://www.architectscertificate.co.uk/about-us/

 

Doing my research and came across this company. Searched on here but couldn't find anything. Have filled in their online form for a quote, so I'll see what they come back with.

[Temp]

Make sure you understand the difference between a 10 Year Warranty and an Architect's certificate. They aren't the same.

 

https://titan-insurance.com/architects-certificate-or-structural-warranty-insurance/

Edited April 30, 2020 by Temp

[Mr Punter]

I have used similar for a conversion when NHBC were prohibitive.  I did not have any issues with the resales x 6.  No real chance that anyone could successfully claim against it, but most lenders accept a professional consultants certificate.

[SuperJohnG]

3 hours ago, Temp said:

Make sure you understand the difference between a 10 Year Warranty and an Architect's certificate. They aren't the same.

 

https://titan-insurance.com/architects-certificate-or-structural-warranty-insurance/

I dont know if thata a good link, its on an insurance companies website.  

 

This is a point I have been looking at lately. I dont really have the answer yet but PI insurance will be in place even of the company goes bust for a certain time period. 

[davejura]

Quote was around £1700, and only really want it for mortgage purposes so a bit better than the 10 year warranty prices.

 

[SuperJohnG]

Just following up on this. Has anyone used an architects cert to get a mortgage. I need to choose my route soon and I'm loathed at the 3400 that companies want a for an SW these days. Hence want to get AC/PCC if possible but cant find good information to say its OK. 

 

Only thing that I need it for is remortgaging a few times over the next ten years

[Temp]

CML say...

 

https://www.cml.org.uk/lenders-handbook/pcc/

 

 

[SuperJohnG]

1 hour ago, Temp said:

CML say...

 

https://www.cml.org.uk/lenders-handbook/pcc/

 

 

@Temp thanks. Id seem that and theoretically...my architect should just fill that put and we should be good to go. Then if you get legal cover then sorted however it just seems too easy. The whole thing is fraught with being so wooly and vague. 

 

@davejura what did you eventually do? 

[the_r_sole]

On 30/07/2020 at 19:44, SuperJohnG said:

@Temp thanks. Id seem that and theoretically...my architect should just fill that put and we should be good to go. Then if you get legal cover then sorted however it just seems too easy. The whole thing is fraught with being so wooly and vague. 

 

@davejura what did you eventually do? 

 

If you want your architect to do CML's you need to tell them at the outset, we charge separately (and additionally) to do them as it increases liability for us (at least on paper!) - our pi cover has been mental since grenfell so it has an additional overhead for us to sign off a CML

[SuperJohnG]

24 minutes ago, the_r_sole said:

 

If you want your architect to do CML's you need to tell them at the outset, we charge separately (and additionally) to do them as it increases liability for us (at least on paper!) - our pi cover has been mental since grenfell so it has an additional overhead for us to sign off a CML

@the_r_sole thanks. 

 

I have asked him a number of times about this and costs but he has never confirmed it yet, which adds to being slightly nervous about them doing it. This is the problem with the whole structural warranty area. 

 

I'm pretty certain it should not be an issue, but that's what insurance is for. 

[the_r_sole]

2 minutes ago, SuperJohnG said:

@the_r_sole thanks. 

 

I have asked him a number of times about this and costs but he has never confirmed it yet, which adds to being slightly nervous about them doing it. This is the problem with the whole structural warranty area. 

 

I'm pretty certain it should not be an issue, but that's what insurance is for. 

 

The thing with CML's is that in the real world they are actually useless! The structural warranties are actually much better in terms of what they cover and if I was buying a recently completed home, I'd definitely be looking for that over a CML 

[SuperJohnG]

4 minutes ago, the_r_sole said:

 

The thing with CML's is that in the real world they are actually useless! The structural warranties are actually much better in terms of what they cover and if I was buying a recently completed home, I'd definitely be looking for that over a CML 

@the_r_sole just to clarify for others who may be following. I'm assuming your referring to a PCC (Professional consultants certificate) which is advocated by the CML (Council of mortgage lenders).

 

They may on the face of it seem better, and simpler. However I am yet to find out the cost difference between a SW (which seems very expensive! - £3400 for me) and a PCC, where it would seem the architect provides this and does inspection, signs it off and then really you just need to add legal cover in the event you had to prove negligence and claim on their PI for a structural latent defect (Without legal cover, it would be far too costly to pursue). Other downside with PCC is that it only last 6 years, hence you'd need to remortgage or sell in that period or wait until 10 years passed to do either to avoid getting retrospective cover. Albeit - I believe others (possibly @PeterW) pointed out or purchased a restrosepctive latent defect policy which was cheap(er)

 

I'll report back once I find out, but on the face of it. If you need to sell or remortgage within the 10 years a SW might be the most straightforward route - albeit a harder pill to swallow. 

[the_r_sole]

6 minutes ago, SuperJohnG said:

@the_r_sole just to clarify for others who may be following. I'm assuming your referring to a PCC (Professional consultants certificate) which is advocated by the CML (Council of mortgage lenders).

 

They may on the face of it seem better, and simpler. However I am yet to find out the cost difference between a SW (which seems very expensive! - £3400 for me) and a PCC, where it would seem the architect provides this and does inspection, signs it off and then really you just need to add legal cover in the event you had to prove negligence and claim on their PI for a structural latent defect (Without legal cover, it would be far too costly to pursue). Other downside with PCC is that it only last 6 years, hence you'd need to remortgage or sell in that period or wait until 10 years passed to do either to avoid getting retrospective cover. Albeit - I believe others (possibly @PeterW) pointed out or purchased a restrosepctive latent defect policy which was cheap(er)

 

I'll report back once I find out, but on the face of it. If you need to sell or remortgage within the 10 years a SW might be the most straightforward route - albeit a harder pill to swallow. 

 

A structural Warranty has more value and more security for sure, if you read the ins and outs of the PCC thing, it's going to be almost impossible to prove negligence, I've got some RIAS guidance on these  somewhere.

£3.4k isn't huge (I was recently quoted 16k for a house in the middle of nowhere!) in the overall scheme of things, given what it covers, although as pointed out it's often cheaper to get indemnity cover at the time of sale if required, but it depends on your attitude to risk and piece of mind!