Protek Group Limited is an established provider of structural warranties and construction insurance. It is based in Kent and enjoys wide lender approval in the United Kingdom. The company was founded in 2015 and has quickly grown to be a major player in the construction sector of the United Kingdom.
In this comprehensive guide, we will look at the structural warranty products offered by Protek.
What Types of Projects Does Protek Cover?
Protek covers a wide variety of projects. If you have new build, mixed-use, or new regeneration developments, you can arrange a new home warranty from Protek. The cover is meant to run for ten years, but the developer will still be responsible for defects in the first two years. The warranty will cover the health and safety of the occupants, any contamination in the land, as well as alternative accommodation options.
Protek also covers buildings that were completed within the past ten years. This falls under retrospective warranty and can be taken by housebuilders, property investors, and anyone who needs structural warranty insurance solutions on residential or mixed-use properties.
The company also offers self-build structural warranty policies, and this is suitable for new self-build projects, conversions, renovations, and extensions. This warranty will cover any physical damage to the property that results from defects in the design, workmanship, or components of the property. This product also covers builders who are unable to start working on the project because of ill health, death, or fraud. In such cases, the underwriter will either complete the project or refund the deposit.
The company will also cover non-compliance with building regulations, and this includes:
- Fire safety
- Building structure
- Drainage and waste disposal
- Protection from impact, falling, and collision
Why Choose Protek as Your Structural Warranty Provider?
One benefit of Protek is that it offers free quotes. For precise quotes, you should make sure you provide detailed and accurate information regarding the project. When applying for insurance, you also need to note that any inaccurate information provided may end up invalidating the policy. This means that part or all of the warranty may not be paid. The quotes will usually be ready within two days. Protek only takes ten days to process the warranty. It is advisable to make the application when you have the building regulation drawings in hand.
Since this warranty provider has wide lender approval in the United Kingdom, you will have an easier time getting a mortgage or construction loan. It is also listed in the UK Finance Handbook and Building Society Association Mortgage Instructions.
It is advisable to take your Protek warranty through Build Safe as we can generally gain more favourable terms than the market price and often help our clients save as much as 30% on their Protek warranty alternative. With our service, you will also receive independent warranty advice and will have a single point of contact. Our experts can ensure that you get the best warranty terms from Protek.
Protek – Your Structural Warranty Provider
For many people, a structural warranty my not be top of their priority list, especially when the costs of the construction are already starting to add up. However, it is important to remember that even the best builders cannot guarantee that there will be no issues with the building or the materials used. If anything happens to the project or the building, the warranty provider will cover the necessary costs. Also, many mortgage providers and building societies will require you to have a structural warranty before they approve the loan.
Does the Protek Structural Warranty Have Wide Lender Approval?
Yes, Protek structural warranty has wide lender approval from banks and building societies across the United Kingdom. The warranty provider is listed with UK Finance and uses Consumer Code recognised by the Consumer Trading Standards Institute. This is extremely important as many banks and building societies will only work with warranty providers who have met this condition.
Some lenders who have confirmed that they accept Protek Self Build warranty including, amongst others:
- Ulster Bank Limited
- Teachers Building Society
- Stafford Railway Building Society
- Nationwide Building Society
- Melton Mowbray Building Society
- Lloyds Bank
- Hinkley and Rugby Building Society
You can always contact us if you are not sure whether your lender will accept the warranty.
Which Mortgage Lenders Accept the New Build Warranty from Protek?
Lots of mortgage lenders in the United Kingdom accept the new build warranty from Protek. Here are some of the lenders that accept this warranty:
- Accord Mortgages Limited
- Bank of Ireland Mortgages
- Cumberland Building Society
- Direct Line Mortgages
- Fleet Mortgages
- Godiva Mortgages Ltd
- Kensington Mortgage Company Ltd
- Paragon Mortgages Ltd
- Precise Mortgages
- TMB – The Mortgage Business
- The Mortgage Works
As noted earlier, you can contact us to find out whether your mortgage provider will accept the warranty.
In today’s fast changing construction sector, we recognise that not all projects are delivered the same way. The Structural Warranty by Protek solution for new build, conversion and permitted development projects is designed to cater for the many different delivery models used in today’s construction and housing market, providing excellent value for money and peace of mind.
Why work with Buildsafe?
Our experts have over 40 years’ of experience in the property sector so you can be assured that we will handle your project with the expertise and care that has been successfully developed over this time. We take away that pain by managing the process for you and ensuring you receive the best price and the most appropriate cover to meet your requirements whilst having an easy to reach team of experts on hand at all times. Do not hesitate to get in contact with us.