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
