The latest happenings in the UK Building Warranty market

The latest happenings in the UK Building Warranty market

The latest happenings in the UK Building Warranty market

If you are a property developer or builder, you know the importance of obtaining the right Building Warranty.

As the leading independent provider of building warranties in the market we are happy to publish the latest updates so you can ensure you are fully informed.

New entrants to the building warranty sector

There has recently been a number of new entrants providing Latent defect Insurance (Building Warranty’s. With demand seeing a significant increase, it is only natural that more providers will try to enter the market.

There is a need be cautious when thinking of using a new entrant as some who are trading have a very limited approved lenders list. This can cause serious problems when the developer comes to sell a unit and the high street bank providing the mortgage to the purchaser will not accept the warranty.

In most cases the developer then has to purchase a retrospective warranty from one of the other providers which always proves to be very expensive.

Here is a list of the main providers and their Underwriters active in the market who have a comprehensive list of approved lenders:

Building Life Plans – Underwriter Allianz

Buildzone – Underwriter Am trust

Self-Buildzone – Underwriter Canopius

Checkmate – Underwriter Inter Hanover

CRL – Underwriter Casualty and General

ICW – Underwriter Elite Insurance

LABC – Underwriter Am trust

NHBC – Self-Insured

Premier Guarantee – Underwriter Am Trust & AXA

Protek – Underwriter Canopius

Aviva (commercial warranties only)

Each insurer has its own strengths and weaknesses and that is where an independent provider like Buildsafe can assist and ascertain which is the most appropriate provider for any given project.

Buildsafe UK for Building Warranties

We are an independent organisation authorised and regulated by The Financial Conduct Authority offering advice and market quotes for the UK Building warranty market.

We also provide independent monitoring solutions from professionally qualified building surveyors.

Our Team has in excess of 20 years’ experience in the UK property sector including Insurance and surveying services.

Our ethos is based around outstanding customer service.

Obtaining a structural warranty can be an arduous process with lots of form filling, additional questions from insurers and time spent chasing an actual quote.

We take away that pain by managing the process for you and ensuring you receive the best price for the most appropriate cover to meet your requirements.

If you would like more information or a chat about your requirements, please give us a call on 0203 701 0422

As a specialist broker we know which insurers to use for each specific project in order to get the best price and cover.