New Home Warranty – Your choice of Insurer is becoming ever more critical

row of four large terraced houses

Why?

Structural Warranty Insurance runs for 10 or 12 years whereas most insurance policies run for only 12 months.

Some key things to consider such as: –

  • What happens if your insurer becomes insolvent? If the Insurer goes bust then they won’t still be there to pay the claim.
  • What cover are you obtaining
  • What are the exclusions?
  • Does the policy cover the cost to fully rebuild the property or is there a lower limit?
  • Are key elements such as ‘ingress of water’ covered for the full policy period?

It is not always about price. Beware of the increasing number of providers who are offering very low premiums – there is usually a reason why they are cheaper.

Read More

Build-Zone again emphasize and encourage the use of A-Rated Insurers after Elite Insurance cease underwriting

Build-Zone have always said and maintained that everyone who buys Structural Warranties should only do so from A-Rated Insurers as it is a long-term insurance policy.

We can offer a choice of A-rated Insurers and high capacity/limits available.

arrow that says insurance

If any Warranty Insurer is also engaged in Motor Insurance, and particularly now with the changes due to Ogden, they need to be extra careful because of the potential for long-term liabilities putting strain on their capital.

Always ensure that you are using Insurance Professionals who understand the business but also the Risk Management and who deal direct with the Underwriters and not a Wholesale Team / Telephone Sales Staff who just see it as easy pickings. It may not cost you anymore now for better “security” but could mean a lot in later years when claims start coming in.

Read More

BuildStore CEO Raymond Connor says, “We need to review what custom build really means.”

Over the past 12 months, custom build has been a buzzword within our industry. However, not much has happened over the last year. This was down to the fact that there were very few companies within the wider property sector that knew much about the market’s potential.

custom build

However, the recent Housing White Paper, which has effectively given government endorsement to custom build, has had an enormous effect and brought this route to homeownership to the forefront of people’s minds in the industry.

Since the Paper was published we, BuildStore, have had renewed interest from lenders who are attracted to custom build due to the assistance that professional developers can offer to purchasers.

We are in the process of speaking to a variety of lenders about what custom build entails, and the advantages of entering the market. However, the question always asked by lenders is: “What is the difference between self-build and custom build?”

Each month we seem to have a more firmed up view that custom build is all about developer involvement, with developers providing the opportunities.

Read More

2017 tender and building costs are poised to grow at a faster rate than in 2016

The Society of Chartered Surveyors Ireland released their PwC Construction Survey Report 2017 this week, showing that their Tender Price Index increased 6 per cent over the course of 2016.

tender and building costs

“If price inflation continues to grow at the current level, it is anticipated that pricing levels will return to the levels last seen in 2006 and 2007 in the next few years,” commented the authors.

The clear majority of respondents (90 per cent) expected an uptake in residential construction activity in 2017.

The good news for self-builders is that despite the increase in tender costs, the cost of building has only increased marginally over the same period.

Read More

Fires, Flues & Chimneys: What Can Go Wrong?

Learn the questions you need to ask to ensure a successful installation, with surveyor Andy Butchers’ insider advice.

fire

Whether your taste is for a cosy inglenook with an open fire or an eye-catching modern stove, the right solid fuel heater can add style and panache not just to the room it’s in, but to the entire house. For many self builders and renovators, however, it’s not simply about aesthetics. Combined with other technologies, these can be genuine heat sources that form an important part of the overall energy performance strategy for your home.

The basics

As with most elements of a major project, it’s crucial you do your research before finalising the spec. What sort of fire do you want, and will it be used as a primary or secondary heat source? Do you want a formal fireplace and chimney or just a flue, and does the type of structure you’re proposing cater for the installation requirements? Check back with your local authority, too, as some restrict the use of open fires and the fuel types you can burn.

An important step is to hire a suitably-qualified installer – look for HETAS or OFTEC registration for solid fuel appliances, and Gas Safe for gas. They’ll advise on specifications and, on completion of the installation, will provide a certificate to show that it complies with Building Regulations.

A certification plate is often fixed to the flue to verify testing has been undertaken. A warranty provider won’t usually cover these appliances unless there’s a suitable certificate in place.

Read More