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Building Guarantee

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  • Building Guarantee

    Hi
    I have recently had an offer accepted, sale going through mortgage in place all based on the property having a Building Guarantee. Turns out there isnt a 'suitable' one and I need one to satisfy my mortgage lender with either an NHBC/Zurich/MD/LABC warranty.
    Any experienced folk out there know roughly how much these are (3 bed semi) and how quickly they can be turned around?
    Ball park figures would be great as I appreciate its probably very case specific.
    Regards

  • #2
    Do you mean that the property is a new build??

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    • #3
      Is OP buying or selling? If it was built in the last 10 yaers and doesn;t have any of the required guarantees/professional certificates then it is unmortgageable and the seller will have to sell it cash to someone propared to wait until the 10 years is over.

      The professional certificates are given to say that the professiona lin question (surveyor, arhcitect, etc) supervised the contrauctiona dn he certifies it was all done oroeprly. If the construction wasn't so supervised then I can't see how anyone can get a certificate now.
      RICHARD WEBSTERwww.rwco.co.uk
      As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.

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