Sell On NHBC 10 Yr Warranty

[siouxchief]

Hi,

I am currently building a 3 bed semi detached house and have bought a NHBC 10 yr warranty that I know most mortgage lenders look for when the house is being sold. In its terms it says the warranty can't be sold on for 12 months but do people actually stick to this or is there a workaround to sell the property immediately with the warranty although the warranty wont pass to the new owner for 12 months?

12 months is a long time to be sitting on a house with no one in it.

Thanks

 

[^woody^]

You are responsible for defects for the first 12 months.

 

[micric]

Have you taken out a self build policy ?
Self build policies are aimed at genuine self builders, if you are intending to sell the plot within the first year you would typically fall into the area of being a developer and as such would need to be a registered developer.

 

[Nige F]

Hi,

I have bought a NHBC 10 yr warranty

Thanks

Out of interest, how much £. Thanks.

 

[freddiemercurystwin]

I'd hazard for a one off about £1500-2000?

 

[chappers]

You are responsible for defects for the first 12 months.

^^^this
All policies have an initial exclusion period during which period the developer is responsible for all defects, standard practice and should be written into the contract during the conveyancing.
As micric says NHBC operate a registration scheme for developers, but the same exclusions apply, are you sure you have the right policy there are other suppliers out there, some who will even warranty post completion, if you have been mis-sold the wrong policy you may be able to get some or even all of your money back.