newhome Posted January 18, 2019 Share Posted January 18, 2019 4 hours ago, Ed Davies said: OTOH, the earlier it starts the earlier you can sell saying “yes. it's been complete for warranty purposes for more than 10 years now”. Since the chance of making a successful claim is fairly slim that actual seems beneficial on balance. True, and I did think of that but my fear was that there would be an expectation that the warranty was valid for 10 years after the date on the completion certificate. I don't know if things are ever that thorough in practice but would be just my luck for them to be. Link to comment Share on other sites More sharing options...
eandg Posted January 18, 2019 Share Posted January 18, 2019 9 hours ago, newhome said: Yes you can but they tend to be more expensive. Not sure how much but they position it that they are taking on additional risk aka got you over a barrel. Edit - retrospective warranty price here. https://forum.buildhub.org.uk/topic/5806-found-a-cheap-structural-warranty/?do=findComment&comment=95829 You may may be able to get an architect’s certificate retrospectively but ultimately it depends on what the mortgage lender will allow. Thanks. Does an architect's certificate (obtained to draw down a self build mortgage) enable mainstream lenders to lend in future, on remortgage/sale or is the warrant the only show in town if you may sell within the decade? Link to comment Share on other sites More sharing options...
newhome Posted January 18, 2019 Share Posted January 18, 2019 16 minutes ago, eandg said: Thanks. Does an architect's certificate (obtained to draw down a self build mortgage) enable mainstream lenders to lend in future, on remortgage/sale or is the warrant the only show in town if you may sell within the decade? Not sure TBH. Here is the main info detailing current requirements for England and Wales. https://www.cml.org.uk/lenders-handbook/englandandwales/question-list/1913/ Some of them seem to allow other schemes other than traditional warranties. In addition the companies in Lloyds Banking Group seem to say this. We only require cover under a building standards indemnity scheme for a new property being occupied for the first time so maybe it’s not needed for a resale if the lender is in that group? The buyer may not like being restricted however. 1 Link to comment Share on other sites More sharing options...
Our_Valleys_build Posted January 30, 2019 Author Share Posted January 30, 2019 What happens when people who don’t have a build warranty when they were build then want to sell within 10 yrs.. would this be something that an indemnity policy would cover or would something else be needed??? Link to comment Share on other sites More sharing options...
newhome Posted January 30, 2019 Share Posted January 30, 2019 6 minutes ago, Our_Valleys_build said: What happens when people who don’t have a build warranty when they were build then want to sell within 10 yrs.. would this be something that an indemnity policy would cover or would something else be needed??? It says it in the post above this, ie some lenders don't appear to need one if it's a resale or will accept other criteria. https://www.cml.org.uk/lenders-handbook/englandandwales/question-list/1913/ You can also buy retrospective warranties but they are ££££ Link to comment Share on other sites More sharing options...
Our_Valleys_build Posted January 30, 2019 Author Share Posted January 30, 2019 (edited) We’ve been quoted 3 k for one now, is it worth doing now for that price or will it be massive post build.. it’s a dormer bungalow of 380 m2 Edited January 30, 2019 by Our_Valleys_build Link to comment Share on other sites More sharing options...
Our_Valleys_build Posted January 30, 2019 Author Share Posted January 30, 2019 12 minutes ago, newhome said: It says it in the post above this, ie some lenders don't appear to need one if it's a resale or will accept other criteria. https://www.cml.org.uk/lenders-handbook/englandandwales/question-list/1913/ You can also buy retrospective warranties but they are ££££ Yea think most banks don’t except retrospectly warrentys, seems maybe best to just get it now and avoid a stinger later. Link to comment Share on other sites More sharing options...
newhome Posted January 30, 2019 Share Posted January 30, 2019 Just now, Our_Valleys_build said: Yea think most banks don’t except retrospectly warrentys, seems maybe best to just get it now and avoid a stinger later. Here is a post that mentions a price for a retrospective warranty https://forum.buildhub.org.uk/topic/5806-found-a-cheap-structural-warranty/?do=findComment&comment=95829 I don't think mine was worth it to be honest but it's paid, forgotten about, and I have it if I want to sell in 10 years. Link to comment Share on other sites More sharing options...
Our_Valleys_build Posted February 26, 2019 Author Share Posted February 26, 2019 for anyone still looking proteck were quoting good prices 1 Link to comment Share on other sites More sharing options...
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