Could Brexit affect Structural Warranties in the UK & Eire?

Brexit & Structural Warranties: Build-Zone has become a major force in the provision of Structural Warranties having started in 2003. Build-Zone were one of the first providers to achieve Designated Warranty Provider status by the Department of Communities and Local Government.

Strucural Warranty Self-Build

Build-Zone uses an in-house Technical Services Company – Build Zone Survey Services Ltd (BZSS), which operates separately under different management and can provide or arrange Building Control and other Technical Inspections using rigorously checked and audited construction professionals and “Approved Inspectors”, all of whom have to agree to specific Consultancy Agreements.

So what about BREXIT? Are there other things that you need to consider?

So far as Passported Insurers operating and accepting risks in the UK are concerned – Brexit will not make much difference, certainly initially, for example those Insurers based in places such as Gibraltar wanting to do business in the UK.

However, with regards to covering risks based within the EU then they will have to qualify and be compliant with Solvency II.

What is ‘Solvency II’ and what does it mean for Policyholders?

New rules which came into force in 2016 hopefully ensure a uniform and enhanced level of policyholder protection across the EU.

The new framework – like the current rules – applies to the majority of EU Insurers and Reinsurers.

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A new company is created to oversee the UK’s largest self-build housing project.

A new company is to be created to oversee a self-build development of 1,900 homes

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The Graven Hill Village Holding Company will be responsible for providing housing at the former Ministry of Defence (MoD) site, near Bicester.

The company will be owned by Cherwell District Council and its subsidiary, the Graven Hill Village Development Company.

The council will be allowed to lawfully carry out commercial trading activity via them whilst retaining control of the site instead of selling it to a private developer.

The 187 hectare site will provides enough space for 1,900 self build homes, creating up to 2,000 new jobs and apprenticeships, a primary school, pub/restaurant and local shops.

Contracts exchanged with the MoD have allowed for the council to purchase the site which following completion, will be transferred to the development company.

Cherwell District Council leader, Barry Wood, said:

“Under the Localism Act 2011, local authorities can only carry out commercial trading activity through a company.

“As such, we had to consider numerous options including selling to a private developer, appointing a partner or forming our own company.

“After putting together an extensive business case, councillors have agreed the latter is the best option to ensure our vision is achieved.

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NFB and RIBA respond to Budget 2014

Following on from the Budget statement 2014 which took place yesterday, here is a summary of the responses from both RIBA and the National Federation of Builders.

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The National Federation of Builders (NFB) welcomed the chancellor’s continued recognition of construction and house building in the 2014 Budget statement. The £500 million Builders Finance Fund aimed at unblocking finance for small developers should help support existing government measures to boost small business finance such as the British Business Bank and help small builders to build.

The extension of Help to Buy, new measures to support self-build and the announcement that Ebbsfleet is set to be the first modern garden city are positive signs that government is supporting the construction industry and therefore the wider economy. However, the chancellor shied away from taking bolder steps to get Britain building such as including major housing projects under the Nationally Significant Infrastructure Projects (NSIPs) planning regime.

Continued positive economic growth, as highlighted in the OBR forecasts, should help unlock further private investment and ensure a sustainable recovery in the construction industry but further planning reform and measures to boost retrofit were missed opportunities. The NFB hopes that all political parties will recognise the value of construction to the economy as they prepare their 2015 manifestos as it is a sector that generates £2.84 for every £1 invested.

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Self-Build Zone and Build-Zone Structural Warranties exhibiting at the National Home Improvement Show

The UK’s leading event for home improvers, the National Home Improvement Show, brings together high quality suppliers and experts in one place and Self-Build Zone and Build-Zone Structural Warranties are delighted to be exhibiting again.

Self-Build Zone is providers of site insurance which is essential for anyone planning an extension, renovation, conversion or new build. Whilst Build-Zone has been providing structural warranties since 2003 and is a major force in the provision of structural warranty products in the United Kingdom and Ireland.

The show attracts many visitors from the self-build sector, not just those actively engaged in a new build, but also those people using self-build as a route to completing a home extension or major remodelling project – all of which require our bespoke range of insurance and warranty products.

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Mortgage lending up in September whilst approvals dropped

Figures from the British Bankers Association (BBA) have found that the figure for gross mortgage lending in September increased to £8.4billion, despite approvals dipping slightly.

The amount of money lent by the banks was up from £8.3 billion in August, with a spokesperson for the BBA suggesting that the increase is due to more activity in the buy to let market.

However, the number of mortgage approvals were down 6% compared to August’s figures. 33,130 mortgage loans were approved in September, whereas at the height of the housing market there were about 130,000 approvals a month.

First time buyers who are struggling to get on the property ladder are still concerned about the lack of mortgage lending but the number of 90% mortgages on the market are increasing, so it is important to keep looking.

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