nod Posted December 27, 2021 Share Posted December 27, 2021 Yep covered so many times Necessary evil or not We are still trying to decide whether to have a warranty or not We had a Protec warranty on our previous build Taken out four years ago We new we would sell after three years So there wasn’t a decision to make The Warranty inspector barely looked at the build But that was ok because we had accepted that the warranty companies are unlikely to ever pay out But serve a purpose for lenders Ive just received a quote of £1500 from CMLC 285m Plus a large double story workshop They have a extended list of lenders that accept there product Only HSBC missing As I say They are a necessary evil Even for those who think they are moving to a forever home You don’t know what’s around the corner In this case it may be worth going for the cheapest 1 Link to comment Share on other sites More sharing options...
Bonner Posted December 28, 2021 Share Posted December 28, 2021 My structural engineer was going to do a PCC for mine but he disappeared. CMLC have taken over from wall plate without additional cost. Hopefully their warranty will enable mortgage lending if needed in the future but I have no expectation of a payout from a claim. Link to comment Share on other sites More sharing options...
nod Posted December 28, 2021 Author Share Posted December 28, 2021 47 minutes ago, Bonner said: My structural engineer was going to do a PCC for mine but he disappeared. CMLC have taken over from wall plate without additional cost. Hopefully their warranty will enable mortgage lending if needed in the future but I have no expectation of a payout from a claim. This was why we went with Protect last time Most of the cheaper ones weren’t recognized by the big lenders Evan an Architect cert wasn’t Which seams crazy This cheap quote seams to tick all the boxes I was expecting to pay £3500 plus vat Link to comment Share on other sites More sharing options...
Bitpipe Posted December 28, 2021 Share Posted December 28, 2021 I can confirm that they are useless for problems that arise. Ours relied on the Year 1&2 clause in that any issues discovered in that time period are responsibility of the contractor (unless contractor has ceased to trade in that time period). Link to comment Share on other sites More sharing options...
nod Posted December 28, 2021 Author Share Posted December 28, 2021 8 minutes ago, Bitpipe said: I can confirm that they are useless for problems that arise. Ours relied on the Year 1&2 clause in that any issues discovered in that time period are responsibility of the contractor (unless contractor has ceased to trade in that time period). The NHBC are no better My Aunt purchased a very expensive home that sprung a leak in one of the valleys They wanted over £500 to come out and inspect Of course refundable if it was deemed valid warranty claim I stripped the tiles back and found the lead had been damaged when the tiles had been cut in situ Bad workmanship Probably would have told her to take it up with the builder Protec spent less than 30 minutes onsite over two years 5 of which was the final inspection Link to comment Share on other sites More sharing options...
matthyde83 Posted December 28, 2021 Share Posted December 28, 2021 I’ve just purchased mine through buildsafe. I was sceptical of using a broker but they came up with a price £1000 less from buildzone than I got quoting direct with them so I purchased before anyone changed their minds… Link to comment Share on other sites More sharing options...
DragsterDriver Posted January 19, 2022 Share Posted January 19, 2022 On 27/12/2021 at 22:37, nod said: Yep covered so many times Necessary evil or not We are still trying to decide whether to have a warranty or not We had a Protec warranty on our previous build Taken out four years ago We new we would sell after three years So there wasn’t a decision to make The Warranty inspector barely looked at the build But that was ok because we had accepted that the warranty companies are unlikely to ever pay out But serve a purpose for lenders Ive just received a quote of £1500 from CMLC 285m Plus a large double story workshop They have a extended list of lenders that accept there product Only HSBC missing As I say They are a necessary evil Even for those who think they are moving to a forever home You don’t know what’s around the corner In this case it may be worth going for the cheapest that’s who I use and agree- wouldn’t be without one. Doubt you could ever claim but should you need to see in an emergency or whatever it’s £1800 well spent. Link to comment Share on other sites More sharing options...
Bitpipe Posted January 19, 2022 Share Posted January 19, 2022 3 hours ago, DragsterDriver said: that’s who I use and agree- wouldn’t be without one. Doubt you could ever claim but should you need to see in an emergency or whatever it’s £1800 well spent. If you take the approach that the policy is necessary for future lending against the property for the 10 years from completion and potentially for any sale then you'll be fine. The policies are very carefully worded to give very narrow exposure to the insurer and minimal benefit to the policy holder. Most have a general 2 year exclusion at the start which states that any fault arising or first noticed in this period (even if a related more serious issue is not apparent until later) is for the relevant contractor to fix - unless they have ceased trading within that two year period. If the contractor does not want to fix it then you need to sue them, the insurance is not relevant. If they go bust after the two years, tough luck. Post 2 years, the scope of what is covered is narrow and I expect will be just as tricky to claim on and you may need to spend your own funds to prove that it's a genuine latent defect. 1 Link to comment Share on other sites More sharing options...
JulesFormosa Posted January 26, 2022 Share Posted January 26, 2022 Hello from a newbie to this site, Manoeuvring the issues of Structural Warranties and Self-build insurance and I wanted to ask some advice. We too have had extortionate quotes back for Structural Warranties from Self-build zone and Protek of circa 12/13K. Yesterday a smaller independent quoted £2.5K plus VAT. Rather than being thrilled, I'm concerned that it's too good to be true given the disparity with the other quotes. I did some digging (because I simply cannot help going down rabbit holes) and discovered that their company accounts show assets of less than £1,000 and that the company has previously (up to 2019 at least) been registered as dormant. Apparently underwriters are Markel. Should alarm bells be ringing? I'm loathe to pay the Structural Warranty at all and simply don't understand why we need this plus Building Control but am worried about future buyers not getting a mortgage blah blah blah. What if the provider goes bust but the underwriter stays afloat? Thanks in advance Link to comment Share on other sites More sharing options...
Dave Jones Posted January 26, 2022 Share Posted January 26, 2022 underwriters have gone bust CRL went a few years ago leaving the warranty worthless. Link to comment Share on other sites More sharing options...
Bitpipe Posted January 26, 2022 Share Posted January 26, 2022 1 hour ago, Dave Jones said: underwriters have gone bust CRL went a few years ago leaving the warranty worthless. Our original underwriter went bust also but the book was bought by another insurer. At that point we were offered the £3.5k premium back or the policy under the new firm. Took the insurance - kind of wish I hadn't bothered as it's proved impossible to claim on for my render issues. I've re-mortaged three times since the self build, only once was I asked 'do you have a warranty?' I said yes but they never asked to see it. Link to comment Share on other sites More sharing options...
JulesFormosa Posted January 26, 2022 Share Posted January 26, 2022 Interesting, thank you. I believe Markel are the underwriters and pretty big, the question is.. what if the Structural Warranty Provider goes bust (not the underwriter).. who is the contract with? Link to comment Share on other sites More sharing options...
Highland build Posted January 27, 2022 Share Posted January 27, 2022 I'm comparing the market with warranties at the moment and another thing I've realised you need to look at @JulesFormosa is their accepted list of lenders. I've so far had quotes of 11k selfbuild zone, 7.5k build care which is build store and their inspectors are also self build zone very confusing, then just over 5 thousand from Advantage AHCI and Protek. This list (of accepted lenders) can apparently change from time to time, but ones that are more widely accepted by all the big banks are obviously favorable. A very expensive piece of paper but I can just imagine how it ticks a very big box if you do want to sell in future. Anybody got any experience of Protek or Advantage warranty inspections? Were in Scotland (hence the price which is mostly the inspection audit fees) so this policy and these inspections will run along side Building control inspections and while I obviously want them to be thorough I don't want them to cause any unnecessary hold ups! Link to comment Share on other sites More sharing options...
JulesFormosa Posted January 27, 2022 Share Posted January 27, 2022 My lowest quote gave me a print out of their accepted list of lenders but when I cross checked on the UK Finance website, they were not on it. Their reply was that they were covered under the lenders handbook paragraph 6.7.4 for the provision of Professional Consultants Certificates. His implication was that this was just as acceptable to lenders however from my research this is not the case. On questioning his 'professional' was a private RICS consultant. It is a minefield. What Site Insurance company did you use may I ask? Link to comment Share on other sites More sharing options...
Highland build Posted January 28, 2022 Share Posted January 28, 2022 @JulesFormosaI'm going with Protek. I'd give them a ring now and see if you can get a quote because they are back offering policies. Mine went to the underwiters they looked at all the site investigations, structural drawings, elevations and they advised increasing the rebuild cost cover and their quote was the same as next best but with higher rebuild cost covered. So all in all 5 grand for alot of peace of mind. Our location is the reason for high audit/inspection costs but there is also risk to them as I am project managing. I think stick to the ones that can give you a big list of lenders their accepted by usually via a link to their websites where its all clearly laid out. The way I have now justified this cost ha ha, is that If you've got a main contractor they might be able to provide you with an NHBC warranty but your obviously going to pay the main contractor fee, possibly i think 10% of the build cost i would think. So now I've convinced myself that this is great value ha ha not as exciting as buying a bathroom suite but essential... next on the list for today sewage tmt plants ?... Link to comment Share on other sites More sharing options...
JulesFormosa Posted January 28, 2022 Share Posted January 28, 2022 Okay, good advice @Highland build, thank you. The rebuild cost thing is also confusing. Out of interest, did you state the same rebuild cost on your site insurance quote as in your warranty quote? I get making sure the site insurance/contract works is high enough to give you safe coverage, but one broker basically implied that with regards to the Structural Warranty - the banks are only really bothered by the sqm x generic price per sq m to rebuild. Not sure where to stop... do I include fixtures and fittings/ decoration/ initial landscaping with regards to the Structural Warranty? With every 100k added to the overall cost, the premium on SW seems to jump Link to comment Share on other sites More sharing options...
Highland build Posted January 28, 2022 Share Posted January 28, 2022 3 hours ago, JulesFormosa said: Okay, good advice @Highland build, thank you. The rebuild cost thing is also confusing. Out of interest, did you state the same rebuild cost on your site insurance quote as in your warranty quote? I get making sure the site insurance/contract works is high enough to give you safe coverage, but one broker basically implied that with regards to the Structural Warranty - the banks are only really bothered by the sqm x generic price per sq m to rebuild. Not sure where to stop... do I include fixtures and fittings/ decoration/ initial landscaping with regards to the Structural Warranty? With every 100k added to the overall cost, the premium on SW seems to jump @JulesFormosathey say for the structural warranty rebuild cost as if you were starting from scratch, so I would include all the fittings and fixture costs if you can afford to. You can ask them to do a few quotes on different rebuild costs because yea past certain value the premium can jump up I think, but you just have to be happy with the level of cover. You could go lower theres no mortgage requirement for it so if it was literally there to sell a house in future I guess you could go lower but i think if its unrealistic the underwriters might say. I've got a site insurance quote thats for a bit less than the underwriters suggested rebuild value i.e my build cost estimate (with a 10% contingency) the same figures i used for my mortgage and thats about 40 quid lower, in the grand scheme of things £40 more, I think I'm just going to go with the site insurance at the same cost the underwriters suggested for the structural warranty because that would be the rebuild cost for sure if a main contractor was involved. I got 4 quotes 2 were ridiculous and then the lower two I jiggled about a little with rebuild costs to get a level i was happy with. I'm no expert just learning as i go here! Link to comment Share on other sites More sharing options...
Mr Punter Posted February 3, 2022 Share Posted February 3, 2022 On 27/12/2021 at 22:37, nod said: Ive just received a quote of £1500 from CMLC 285m Plus a large double story workshop This is not a Structural Warranty but a Professional Consultants Certificate. The buyer has the ability to claim on the provider's professional indemnity insurance. The Structural Warranties have their own insurance policy. I don't think either are worth much other than to be able to obtain finance and sell on. 1 Link to comment Share on other sites More sharing options...
nod Posted February 3, 2022 Author Share Posted February 3, 2022 34 minutes ago, Mr Punter said: This is not a Structural Warranty but a Professional Consultants Certificate. The buyer has the ability to claim on the provider's professional indemnity insurance. The Structural Warranties have their own insurance policy. I don't think either are worth much other than to be able to obtain finance and sell on. Absolutely The main thing is that it’s recognized by almost all the lenders Same bit of paper At half the price 2 Link to comment Share on other sites More sharing options...
Dave Jones Posted February 3, 2022 Share Posted February 3, 2022 1 hour ago, Mr Punter said: This is not a Structural Warranty but a Professional Consultants Certificate. The buyer has the ability to claim on the provider's professional indemnity insurance. The Structural Warranties have their own insurance policy. I don't think either are worth much other than to be able to obtain finance and sell on. no good for a buyer to get a mortgage with. Same as an architects certificate. Link to comment Share on other sites More sharing options...
nod Posted February 6, 2022 Author Share Posted February 6, 2022 On 03/02/2022 at 14:15, Dave Jones said: no good for a buyer to get a mortgage with. Same as an architects certificate. It seams that way Very similar to an Architects cert Link to comment Share on other sites More sharing options...
DragsterDriver Posted February 6, 2022 Share Posted February 6, 2022 On 03/02/2022 at 14:15, Dave Jones said: no good for a buyer to get a mortgage with. Same as an architects certificate. Cmlc call it a ‘structural warranty’? Link to comment Share on other sites More sharing options...
nod Posted February 6, 2022 Author Share Posted February 6, 2022 1 minute ago, DragsterDriver said: Cmlc call it a ‘structural warranty’? I have spoken to the MD He did say it is a Structual warranty But went on to talk about there insurers liability of 3 m and maximum claim of 1m But Mr Punter As alway hit the nail on the head 1 Link to comment Share on other sites More sharing options...
Nicky198 Posted March 1, 2022 Share Posted March 1, 2022 Hi all, I haven’t started building yet but am hoping to clear site any day and want to get a warranty as it’s only a small property and can’t imagine I’ll stay for 10 years. I have had a quote of £2000 from CMLC but I’m getting confused if this will count towards warranties and other people getting mortgages? Any advice will be greatly received! 1 Link to comment Share on other sites More sharing options...
DragsterDriver Posted March 2, 2022 Share Posted March 2, 2022 14 hours ago, Nicky198 said: Hi all, I haven’t started building yet but am hoping to clear site any day and want to get a warranty as it’s only a small property and can’t imagine I’ll stay for 10 years. I have had a quote of £2000 from CMLC but I’m getting confused if this will count towards warranties and other people getting mortgages? Any advice will be greatly received! Cmlc list all the mortgage companies that accept it. Link to comment Share on other sites More sharing options...
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