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Sep 17, 2023 · The real estate tech, or proptech sector, has taken a big hit as mortgage interest rates have surged. Layoffs have abounded at both publicly traded companies such as Opendoor, Compass and...
Dec 15, 2023 · TechCrunch covers the technology, startups, and founders building the future of real estate technology. Startups Agora raises $34M Series B to keep building the Carta for real estate
May 8, 2024 · A ‘we buy any house’ company becomes the preferred option because you can be sure to complete the process in a matter of days and have the funds deposited in your account. On the other hand, it would take an agent much longer to get a suitable buyer and complete the sale process.
Oct 20, 2022 · Buying property through a limited company: the pros and cons. Last updated: 20 October 2022. Up to 80% of investors now buy though a company. But is it right for you?
- What Is A New Build Warranty?
- Who Are The New Build Home Warranty Providers?
- How Common Is The NHBC Buildmark Warranty?
- Defects Insurance Period
- Structural Insurance Period
- How Long Do New Build Warranties Last?
- What Do New Home Warranties Not Cover?
- Be Careful of The Small Print – ‘A’ Rated vs Unrated
- Warranties For Self-Builders
- What Do I Do If I Spot A Defect?
A building or structural warranty is essentially an insurance policy for newly built homes. It’s almost impossible to sell a home without one as all mortgage lenders require a 10 year structural warranty. Although it’s taken out by the builder or developer it is there to protect you, the buyer (and your mortgage lender). The type of warranty typica...
The most common new home warranty in the UK is the National House-Building Council (NHBC)’s Buildmark Warranty. There are around a dozen other warranty providers and these include Local Authority Building Control (LABC), Premier Guarantee, Checkmate, Buildsafe, Protek and Global. Nearly all warranty providers require developers to sign up to a cons...
The NHBC Buildmark warranty is by far the most common, covering 70-80% of the new build market. If you are the first owner, you will be covered from the date of exchange of contracts.
In the majority of cases, during your first two yearsin the home, if there are issues with the work the builder has done, such as the windows letting in rain because they’re not sealed properly or the heating not working because the pipes are faulty, the builder is obliged by the warranty provider to come and fix them. Make sure you get your convey...
During the structural insurance period years 3-10, the builder is only responsible for major problems with the structure of the house. This includes foundations, the external render, roofs, ceilings, chimneys and load-bearing parts of the floors. Smaller ‘defects’ are now your own responsibility. This includes non-structural defects such as problem...
Typically, building warranties for new homes in the UK last for 10 years but this can be increased to 12 or even 15 years in certain cases and by certain providers. They usually start on the day of practical completion of the property but not always. It’s best to check your paperwork.
Understandably, natural wear and tear isn’t covered by a new home warranty. Neither is weather damage or any problems resulting from you not maintaining your homeadequately. Damp and condensation may be covered but only if they have occurred as a result of the builder’s failure to comply with the warranty provider’s standards (in other words, if it...
As all warranty providers are acting on behalf of insurers, they may not always be as willing to carry out (and pay for) remedial work. As is always the case with insurance, the small print is key. Make sure you read all of the warranty documentationand question anything that doesn’t seem quite right. Insurance providers are rated according to thei...
If you are building your own homeyou might need to look at specialist new build warranty providers, as NHBC, Premier Guarantee and LABC do not offer products to self-builders. A self-builder should make sure they have an all risk policy or site insurance during the build and a 10-year structural warranty issued on completion. Self-build Zone is one...
Make sure you contact the builder as soon as possible. Keep a record of all communication including dates and times of telephone calls. This will be needed if there are problems with getting your builder to address the issue. LABC, Build-Zone and Premier Guarantee warranty policies have a £1,000 excess. This means you’ll pay the first £1,000 of eac...
Aug 22, 2023 · If you are setting up a company for buy-to-let purposes, then you may be considering purchasing a house through your business in the UK. Here are the steps you will need to take: Register a Limited Company: The first step is to set up a limited company. This can be done through Companies House.
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Buying a new-build home. What to look out for and your rights if something goes wrong. Kit Sproson | Edited by Ben Slater. Updated 27 June 2024. Buying a new-build home throws up a unique set of challenges – get it wrong and you risk considerable extra stress and expense.
