STRUCTURAL WARRANTY CHECKLIST
Self-Build Zone’s Jake Fitness sets out what you need to know to arrange the right warranty protection for your home building project
Astructural warranty is a type of insurance policy that protects a new build home against defects that may emerge over time in the design, workmanship and materials, usually for 10 years post-completion. It can also be taken out for the new works on a renovation or extension project. So, it will protect you against problems developing later on, covering the cost of rebuild or remedial works for such defects. Here’s what you need to know when identifying the best warranty for your project:
Do I need a self build structural warranty?
Before a lender will provide a self build mortgage on a project, they’ll want to know you have a 10-year structural warranty in place. The same is true for any subsequent mortgages within the first 10 years of completion (the point at which the property is signed off by building control). So, whether you are looking to remortgage yourself, or you’re selling and a prospective buyer needs finance to enable their purchase, the lender will want to see a structural warranty in place.