New Home Warranty
A New Home Warranty from Commercial Risks (UK) Ltd is a new build structural warranty that covers your new build property (constructed within the last two years) from structural issues that may be caused by defects in design, material or workmanship. Build-Zone are not only a new build warranty provider, we also provide cover for projects involving new build, conversion, social housing, build-to-rent, major projects and mixed-use developments.
Building a new property is a huge financial investment and it can also provide a significant financial return for you as the property developer or builder. With a brand new property development and excited buyers, what could possibly go wrong…? Any builder or developer knows the complications that can come with property, even new builds.
Commercial Risks New Home Warranty not only gives you the peace of mind that your development or project has an ‘A’ rated backed structural warranty for 10 years, but our New Home Warranties are also fully transferable to the new owners on completion of the purchase and are accepted by the majority of lenders in the UK.
Get a quote for your New Home Warranty warranties@commercialrisks.co.uk
You can rest easy knowing that you’re protected should you find structural issues caused by defects in design, workmanship and materials with your new home. The New Home Warranty at Commercial Risks keeps you protected for 10 years from completion and is transferable if you need to sell.
What is a New Home Warranty?
A New Home Warranty is a 10-year structural warranty that protects the new works of a new build, renovation, conversion or extension against the costs that will be incurred if a property presents structural issues caused by design, workmanship or materials within the first 10 years. Homeowners benefit from this cover as they can enjoy their new build without the worry of paying avoidable expenses for any potential issues that may occur with the property’s structure.
A Structural Warranty is a lender requirement in the UK, meaning any builders or developers who are selling their new builds once completed will need a New Home Warranty in place. The Commercial Risks New Home Warranty is available on new builds, conversion projects and mixed-use developments and is accepted by the majority of lenders in the UK.
Why is a New Home Warranty needed?
Newly-built properties need to be protected against structural defects that may arise, caused by defects in design, workmanship or materials. Structural issues can cost hundreds of thousands of pounds and often take many years to appear. This is why you need a New Home Warranty from a provider that has proven itself in the market with ‘A’ rated backing. Our providers have been providing structural warranties since 2003 and we only uses ‘A’ rated insurers so you have peace of mind.
Although a New Home Warranty isn’t required by law, most mortgage lenders consider this type of cover on the build mandatory when they consider lending to potential homeowners, meaning they won’t provide a mortgage until a New Home Warranty has been acquired by the developer.