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10 years
- Although a warranty is not legally required, mortgage lenders who are members of UK Finance require a valid warranty for properties built or converted in the past 10 years, or to be occupied for the first time. The builder should decide which warranty provider to use, from a selection of providers acceptable to the lender.
www.blandy.co.uk/about/news-and-insights/insights/new-build-warranties-a-summary-when-buying-a-new-build-homeNew Build Warranties – A Summary When Buying a New Build Home
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How long does a builder's warranty last on a new home?
Why do builders offer a ten year warranty?
What is a builder warranty?
What is a new build home warranty?
What is a new build warranty? 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.
Jul 8, 2024 · New build warranties provide two types of cover: 1. Two-year defect cover. The first two years of your 10-year new build warranty covers numerous issues, such as: Leaky windows that need resealing. Faulty plumbing. Faulty electrical wiring. During this time, the developer must come and fix these defects in line with the latest building regulations.
Aug 8, 2022 · Where it is not possible to claim against the builder under the missives or on a home insurance policy, buyers may turn to a home warranty scheme. What is a home warranty scheme? NHBC is the largest provider in the UK, offering a 10-year "Buildmark" insurance policy to purchasers.
Jul 18, 2023 · The warranty covers different aspects of the home depending on the time period: during the first 2 years, it covers builder responsibility for fixing issues that don’t meet NHBC standards; from years 3 to 10, it covers specific structural and weatherproofing faults.
In general, a Builders Warranty on new residential homes is split into two periods. The first is the defects insurance period, which typically lasts for two years. The second is the structural insurance period, which covers the property from year 3 to year 10 or 12, depending on the policy duration.
Initial Period: Usually covering the first two years post-completion, during which the builder is responsible for fixing any defects that are not general wear and tear or minor issues. This is often called the ‘Builder Warranty Period’.
Mar 10, 2020 · Ten years is the standard period for most warranty policies, with the first two years being defects warranty and the remaining term being structural cover. Although backed by the warranty, builders are initially responsible for putting right defects affecting new homes.
