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Owners of newly constructed, extended or refurbished property do not always receive long-term financial security against the risks of inherent structural defects. For a property built without the benefit of a structural warranty, it could be very difficult for any future buyer to subsequently obtain a mortgage. Lenders are often unwilling to provide funds until a recognised structural warranty is in place. One Guarantee offers a completed home warranty (also known as a retrospective building warranty) to address this issue and thus make the selling process easier.

If you would like more information about One Guarantee’s Completed Home Warranty, please call us on 01603 218288 or alternatively click here for a quotation.

Who Is Completed Home Warranty Applicable To?

One Guarantee’s completed home warranty can protect the interests of either a new purchaser, or the original owner of a completed property, allowing for financial security in a property that was initially constructed without the benefits of a new home warranty. Our policy will protect one’s financial interests a the property and can be fully assignable to future owners throughout the duration of the policy.

Additional Benefits of Our Policy

  • Full risk transfer from day one
  • Cover provided for the balance of 10 years from practical completion (e.g. a property built 5 years ago would receive 5 years of cover)
  • AA-rated Insurer
  • Alternative accommodation, professional fees, debris removal and additional costs
  • Instalment facilities available (subject to approval)

FAQs

Are Any Inspections Required?

Yes, One Guarantee will arrange for a Completed Property Survey to be carried out by an Approved Inspector. This will focus on the most important elements of the build. Surveyors will also carry out a Design Risk Assessment of the property prior to One Guarantee offering cover.

How Can I Take Out A Policy?

To begin with, you would need to provide One Guarantee with the project information in order for us to put forwards a quotation. You can do this by clicking here. Should you wish to proceed, One Guarantee would undertake a Completed Property Survey and Design Risk Assessment prior to offering formal terms.

What Constitutes A Valid Claim Under the Policy?

Cover is provided for destruction or major physical damage to the completed property unit caused by a defect in either the structure of the building or waterproofing elements of the external envelope. Cover would also be offered if immediate remedial action was required to prevent destruction or major physical damage to the completed property.

How Can I Confirm To My Buyer Or Solicitor That Cover’s In Place?

Once the premium has been accepted and paid, One Guarantee will issue Certificate of Insurance for the property in question. This is the official confirmation that cover has now been incepted by Insurers and will satisfy your buyer or solicitor (depending on the circumstance), that the warranty is in place.

If you would like more information about One Guarantee’s Completed Home Warranty, please call us on 01603 218288 or alternatively click here for a quotation.

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