New Build Warranty

It is very important that you purchase a new build warranty before you start constructing a new house or houses. A new build guarantee will cover you for 10 years from the sign-off of building regulations in the event of any major structural defects. In addition, having a new build house warranty is an essential mortgage lender requirement when the time comes to sell the property.

With over 25 years of experience in the construction industry, we at Granite Building Warranties know the importance of a new construction warranty is. Read on to find out more about getting a new build guarantee through us.

What is a new build warranty?

A new build house warranty, also known as Latent Defect insurance, is an insurance policy that covers newly built or converted properties for a period of 10 years from building regulation sign off. The warranty policy is taken out by builders or developers before the start of construction and most importantly before a new property is sold to a buyer. The first 2 years are known as the ‘defects period’ and the developer is responsible in the event of a claim. The remaining 8 Years are the responsibility of the insurer.

What does the warranty cover?

The warranty covers structural defects: such as the gable end moving away from the roof trusses or defective windows. The first two years covered by the warranty, known as the defects insurance period, is covered by the developer. The remaining eight years are covered by the warranty provider, also known as the structural insurance period.

Do All New Builds Need a Warranty

From a legal standpoint, there is nothing that requires the developer of a new build home to provide a new build warranty in the UK. However, most mortgage lenders won’t provide finance on a new build without adequate warranty protection to cover the property. New build homes in the UK typically come with a 10-year warranty to provide homeowners with protection against structural issues and defects in workmanship.

Is A Building Warranty the same as Building Insurance

Standard Building insurance is an annual policy covers you if something happens to your home. For example, if a fire, flood or storm damages the building it will cover the cost of the repairs. It will cover the cost to rebuild, repair or replace things like your roof, walls, windows, doors or fitted bathrooms and kitchens. Whereas a Structural warranty covers a Property, New Build or conversion, for structural failure and provide cover for partial or total re-build of your new home for 10 years from building control sign off.  

What does a warranty include?

• A structural guarantee of 10 – 12 years is provided from building regulation certification
• One-off payment that covers all survey and insurance costs
• For residential units, there is a £1,000.00 excess per claim per residence
• In the case of a claim, the insurance will cover the cost of a whole or partial reconstruction, including professional costs and demolition
• The policy, is completely assignable to any future purchaser
• UK Finance (previously CML) Approved and recognised and accepted by mortgage lenders and the majority of high-street banks
• FCA Regulated
• Peace of mind and the ability to sell or re-mortgage

Enquire now by filling in the form below and we will be in touch with you as soon as we can.