New build NHBC warranty?

[gcltd]

Hi, unsure if this is the correct section for this question but I've been looking at a NHBC structural warranty for a new build semi bungalow.

I'm advised it's a few thousand and covers the structure from years 2 - 10 (the first two by the builder).

Are these needed inorder to resell the property?

Any advised much appreciated & also alternative places to try for a good quote and trustworthy policy.

Thanks

 

[freddiemercurystwin]

You'll either need an NHBC or LABC Warranty. I don't think there are any other alternative believe it or not. Zurich used to but have not done so for a couple of years. So unfortunately you'll have to stump up.

NHBC is going to be accepted by all the mortgage company's. I am not totally sure if the LABC one is.

Its not like shopping for car insurance, you choose your warranty, you build it incorporating the standards they expect, they inspect along the way, then you get your certificate. At least that's the theory, they're about as much uses as chocolate teapot usually but nobody will get a mortgage without one.

 

[jeds]

The cheapest alternative is a professional consultants certificate. Look up Council for Mortgage Lenders (CML) handbook for details. This can be signed by a chartered surveyor, chartered structural engineer or an architect. NHBC is usually a non starter for private developments. Too expensive and the builder must be NHBC registered which will add to your build cost. LABC is OK but still expensive. A pro certificate should cost about £1350 for a single house.

 

[gcltd]

Hi,

I've looked at both and they seem to be around £3k for a one of build - the professional consultants certificate looks great but I do need a warranty to go with the house.

Thanks for your help.

 

[jeds]

The consultants certificate is a warranty.

 

[theoldun]

You can do it on NHBC Solo but you have to declare that you are going to live in it. However if your circumstances change when it is complete, then so be it. Will cost you £3300 for solo £635 for inspections for BR and £264 for SAP
You can also do it on Build Zone, but know nothing about them.
Regards oldun

 

[jeds]

Hmm. £4199. Or you could get a professional consultants certificate and spend the balance on 4.219 years supply of Thatchers Gold. And then when you weigh the cans in and what you'd get would still be worth more than the NHBC warranty.