Insolvent Developer and Receivership Property Warranties - GBW

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Insolvency/Receivership Warranty

When a developer becomes insolvent and the development goes into receivership, if there is an existing warranty in place, it is likely it will become invalid.  This means the LPA Receiver will not be able to sell the asset if finance is required and therefore return money to the creditors.

We are specialists in arranging warranties for receivership properties and have extensive experience in this potentially complicated area.  Our in-house surveyors are invaluable in these cases, working with receivers sorting out construction issues enabling a warranty to be implemented.

Key features of a Warranty for LPA Receivers include:

  • Retrospective 10 Year structural warranty from building regulation sign off
  • The premium covers all survey fees and insurance costs as a one off payment
  • No developer defects period
  • Policy cover for structural defects
  • Risk transfer for the LPA Receiver
  • Swift survey service and policy implementation
  • Claims service direct to the insurer from the new owner
  • Assignable policy
  • CML Approved – Recognised and accepted by mortgage lenders
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Granite Building Warranties Ltd is an Appointed Representative of Richdale Brokers & Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority.
Granite Building Warranties is a company registered in England and Wales (Company Number 11497543) with its registered office at 1st Floor, 5 Century Court, Tolpits Lane, Watford, WD18 9PX.”