CRL- Alpha Warranty Replacement
CRL – Alpha Warranty Replacement
BuildSafe has helped a number of developers, contractors and property owners source alternative cover for their CRL warranty in order to help them refinance or sell their property.
To meet lenders’ requirements and reduce any further risk, please contact a member of the Buildsafe team. We have arrangements in place to provide prompt and secure replacement policies at some of the lowest premiums available.
However, it’s important to bear in mind that the best rate applied to insure a completed project is still higher than a pre-construction project.
What is a CRL warranty/Alpha Replacement Policy?
The CRL/Alpha situation truly magnifies the need for developers and investors to seek independent and connected advice from reputable partners. We understand that developers have direct relationships with insurers. Where you maintain those lines of communication, you should always verify that your insurer:
- Is backed by a UK based, A-rated underwriter
- Is fully compliant with the council for mortgage lenders (CML)
- Has full access to the lending market – this is to ensure that when you come to sell the units or refinance the project, the warranty in place is accepted by the lenders you approach.
Our extensive panel of insurers are all underwritten by UK based, A-rated carriers and are fully compliant with the Council of Mortgage Lenders. We have guided a vast majority of Alpha policyholders on the steps they needed to take and also helped them secure alternative, competitive cover.
CRL-ALPHA Warranty Alternative
If you’ve been affected by the CRL/Alpha situation or have an upcoming project and would like some advice on how best to manage your insurance risk, do give us a call on 0203 701 0422 or fill in our enquiry form online. A member of our team will be happy to talk you through some options.