Author Topic: NEW HOME BUYERS : Beware BLP warranties  (Read 10281 times)

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The Brickkicker

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NEW HOME BUYERS : Beware BLP warranties
« on: June 07, 2011, 03:08:07 pm »
I spend my life challenging builders and the NHBC warranty ...but its the best we got at the moment ....here is why

Zurich Municipal ( the huge Swiss insurance company) had a go at changing the market ...that lasted less than 10 years ..they pulled out of the market as the risks were too high

Local Authorities have their gold policy and there is Premier warranty ...which typically attract builders who cannot get into the NHBC scheme - you have been warned!

But a new player to the market sets to rock the boat by offering the builders a warranty that meets with Council of Mortgage lenders (CML) requirements ....but offers very little for the home owner

why ?

Well the NHBC is  NOT FOR PROFIT quango SET UP BY GOVERNMENT IN THE 1960s  to protect home owners ...but essentially its an insurance company without shareholders.

It has throughout the years offered training and set the standards for UK housebuilding ...now whilst its true to say I have many issues with these standards they are better than anything else on the market for the new home buyer

The BLP policy ...and an Architect's certificates as well .... are purely there to protect the mortgage providers funds that you are borrowing....and offer little protection for the new home buyer.

So if you can only buy a new home with an NHBC policy ...and if you cannot avoid these other warranties ...get it snagged by a professional and agree a retention with your builder
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Albert

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Re: NEW HOME BUYERS : Beware BLP warranties
« Reply #1 on: June 08, 2011, 07:44:56 am »
Why would anyone rely on an Architect's certificate?
 
Don't these just confirm to a lender that the work has been done?

The NHBC may have its faults but it is better than anything else with regard to New Home Warranty and standard setting.


The Prophet

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Re: NEW HOME BUYERS : Beware BLP warranties
« Reply #2 on: June 11, 2011, 11:20:23 am »
The NHBC are much better than the alternatives in my opinion!

The Brickkicker

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Re: NEW HOME BUYERS : Beware BLP warranties
« Reply #3 on: August 17, 2011, 10:14:41 am »
BLP have a warranty policy where they don't even check the property during the build ...only at the end !!!
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Philofacts

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Re: NEW HOMES BUYERS : Beware BLP Warranties
« Reply #4 on: August 18, 2011, 09:39:18 am »
Well we all know which new homes builders will prefer to sign up with a BLP warranty. The worst ones!
How long will it be before the insurance underwriters start to realise that stage inspections could reduce the amount they have to pay out on the warranty claims due to latent defects?
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