A new service from Buildsafe saving you considerable costs when taking out building warranties.
This new service is for property developers who are building residential units that are going to be rented instead of sold at completion. Usually you have to pay the insurance provider for membership, technical audits, insurance premium and Insurance Premium Tax (IPT) upon inception.
We have developed relationships with Insurers who are prepared to postpone the premium and IPT payment until you need to sell or refinance the units.
With our new service you only pay for the technical audit and administration fees up front, the premium elements can be paid for if and when you choose to sell the units in the future.
Therefore, if you do not need to refinance or do not sell the units you will only ever have to pay for the technical fees saving you in excess of 50 % of the usual cost.
Don’t get caught out, if you are going to rent out your property development once building work is complete give us a call and we will save you a fortune on building warranty costs.
Example of savings available:-
Development of 82 apartments with a build cost of £11,000,000.00
Premium: £ 52,650.00
IPT: £ 5,265.00
Technical Fees: £ 22,902.00
Total: £ 80,817.00
Usually total amount payable upon inception is £80,817.00 however with our service you will only pay £22,902.00 referring the rest until you decide if you need the warranty.
Development of 15 units with a build cost of £1,600,000.00
Premium; £ 7,800.00
IPT; £ 780.00
Technical Fees: £ 5,130.00
Total: £ 13,710.00
Usually total amount payable upon inception is £13,710.00 however with our service you will only pay £5,130.00 referring the rest until you need to sell or refinance.
Buildsafe 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.