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Just did a quick quote for a structural warranty and the quote was £5,000 (the property is 140sqm and estimated build cost £150,000), that seems mental to me.

 

Just out of interest how many forum members took out warranties when starting their self builds for their own homes, i.e. not expecting to sell for a long time or ever?

 

My plan was to go with a self build mortgage provider and then on completion move onto their own standard residential product.

 

Kerry

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I'm in the "home for life" category, so won't be taking out a warranty, I'm not sure what value they add, if any.

Edited by Triassic

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i got one (Zurich) from the outset as it's needed if you ever take a mortgage on the property once complete.

 

Was one of of the first things the broker asked for when looking at the market, I'm coming off the ecology self build now that the 2 year redemption period is up.

 

However their value as 'insurance' is questionable - I know NHBC has a terrible reputation for resolving issues.

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We didn't bother with one, for two reasons. 

 

We bought a new house once, and found that the NHBC warranty wasn't worth the paper it was written on.  The house leaked (flashing around the chimney installed upside down, believe it or not), we paid out for surveys to prove to NHBC that the house had been built incorrectly, yet still they refused to pay out.  In the end our solicitor advised that it would be cheaper for us to just pay to get the remedial work done than try and pursue NHBC through the courts, as his experience was that they always resisted paying out and this ended up costing clients a great deal of money.

 

The second reason is that we didn't need a mortgage on the house and hope not to have to sell it.  Even if we did have to sell it, the cost of a one-off  indemnity insurance policy to cover the years remaining until the house is ten years old would almost certainly be a lot cheaper than the cost of the warranty.

Edited by JSHarris
typo

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Hi Kerry I to am in the same boat I'm hoping to have enough money to cover the build without having to take on a mortgage but I have looked at the warranties and the cheapest quote I have had is from Protek self build who came in cheaper than other quotes.

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We had to have one as we'll need to mortgage the house once finished and after ringing round the mortgage companies, I found that they pretty much all accepted different ones, although there was a core list. We chose CRL in the end as their quote was competitive and they were understanding about the passive slab/MBC frame that we wanted to use. Not all the companies I made contact with were so flexible. You also get assigned an individual person to deal with who must have  red-done our quote at least 5 times throughout the 3 year planning/building control period. He was always available on the phone and was responsive to emails, so that counts for a lot in my book. I finally purchased a few weeks ago, just before our build finally started and we had the first visit from their surveyor last week. He was also helpful and nice, so all good so far :)

 

We paid £2400 all in for a 10 year structural warranty. House is 240sqm total, 3/4 bedroom, passive slab and MBC timber frame. 

 

I should add that we are on the lucky position of being able to borrow enough short term cash to finish the build initially, but then we need the standard mortgage to pay back the bank of mum and dad. 

 

 

Edited by divorcingjack

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Another one not bothering with a structural warranty. Not planning to borrow or sell.

 

The previous house had the nhbc warranty, but the cover from that expired last year so proved pointless in the end, but this time around I found the cost had doubled so making it even more of a waste of money.

 

I also found some ridiculous things like the nhbc inspector was telling us to do the exact opposite of the building control inspector, ended up having to pretend to each we had done it "their" way.

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On 16/09/2017 at 15:12, Thedreamer said:

Just did a quick quote for a structural warranty and the quote was £5,000 (the property is 140sqm and estimated build cost £150,000), that seems mental to me.

 

Just out of interest how many forum members took out warranties when starting their self builds for their own homes, i.e. not expecting to sell for a long time or ever?

 

My plan was to go with a self build mortgage provider and then on completion move onto their own standard residential product.

 

Kerry

 

Ring around and get the number down, as has been said if you need a mortgage you will need one.  I went with self-build zone in the end for warranty, it's money for old rope, but if you are borrowing it's just another hoop you need to jump through, it's a cost they don't tell you about on GD or BTD tv progs!

 

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I went with self-build zone, £2,300 for 330m2 ICF basement and timberframe above ground. 600k build cost. They were the cheapest I could find. So yes, your figures do seem mental.

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We didn't. No plans to sell but  didn't want the hassle of box tickers that add little value if you're doing it right in the first place. 

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See if you can go direct to Sennocke - they are the ones who do ours but we had issues with the broker who really cocked up ...

 

£2200 for warranty and building regs from memory. 

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You don't need one for a mortgage company to lend on. Pcc with arb architect will do for about 70% of lenders

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Thanks everybody, it's been useful to hear from others regarding this. Being in Scotland, lenders are pretty limited, but I note that Ecology one lender who offer in Scotland, this on their website.

 

Does Ecology require a particular build warranty on completion of my self-build?

A build warranty is not a mandatory lending requirement of our mortgage and we are happy with a Building Regulation Completion Certificate. However, if you wish to take out a build warranty for the completion of the property then this is acceptable to the Society.

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