Join the self build revolution

Raymond Connor of BuildStore Financial Services explains how the self build housing market, with new-found political support, is poised to become mainstream, and why lenders need to act now to benefit from high quality, low-risk lending in this sector.


Source: Mortgage Finance Gazette – 6th January 2011


Structural Warranty Insurance

Against the backdrop of a credit crunch, a recession, and a new government, the mortgage and housing markets have changed for good. With their weaknesses exposed, it is now time to consider the potential for new models of housing procurement, and the funding thereof.  The so-called ‘good times’ of the late 1990s to mid-2000s will never come back. And yet, they are still being used as a gauge for current progress, creating an unrealistic picture of the market going forward.

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Self build structural warranty provider welcomes Government’s self-build sector boost

Structural warranty provider Build-Zone today welcomed the Government’s recent policy announcement to cut red tape and boost demand in the UK self-build sector.

Structural Warranty Insurance

Housing Minister Grant Shapps called on the country’s aspiring self-builders to make a housebuilding revolution their New Year’s resolution.  Self-builders are already Britain’s largest housebuilder, and account for one-fifth of Britain’s new homes each year, but for far too long the aspirations of ordinary people to build their own home have been thwarted by barriers and red tape.  Barriers that stand in people’s way will be torn down – including a complex and bureaucratic planning system, regulatory burdens, and lack of access to land and finance.

A new Community Right to Build will offer communities the chance to give the green light to new developments without the need for specific planning applications.  This could be local people working alone to build their own homes, or entire communities coming together to build the homes the area needs.

The self-build sector is already important to growth and housing supply – with self-builders completing as many as 10,000 building projects each year – so making it easier for more people to build their own home will provide a welcome boost to the housing market.

Mr Shapps has asked the National Self Build Association (NASBA) to work with his officials to develop an action plan to boost the number of self-builders across the country – and address the common barriers aspiring self-builders face, including:

  • availability of land – including making public sector land available for house building
  • availability of finance – working with lenders to ensure self-building communities can get the finance they need
  • availability of expert support – how self-builders can support communities looking to build the homes they need, and how those new to self-building can be supported.

Build-Zone are a major provider of 10 year structural warranty, technical audits, and building control services, to the self build marketplace.

Build-Zone Director Simon Middleton said:

“This is really is a positive step forward for anyone who has dreamed of building their own home but have had their hopes dashed through a complex planning system and lack of land in their community.  Build-Zone has been providing Structural Warranties to this [Self-build] market sector since 2003 and we already have the products in place to provide essential cover on community projects as well.

Our sister operation Self Build Zone is the market leader in the provision of Self-build insurance and is also in the perfect position to provide communities looking to build homes with specific site cover as well. Insuring the project properly is of fundamental importance when there are many people’s financial interests at stake”.

Self-Build Zone products include:

Site Insurance
Buildings Insurance
Structural Warranty
Building Control Services
Renovation Insurance
Code for Sustainable Homes
SAP Energy Ratings
Air Pressure Testing
Sound Testing

Self Build Zone Director, Simon Middleton will be guest speaking at the Lending Policy Meets Housebuilding Reality Conference where  he will deliver a warranty providers view of Modern Methods of Construction and Eco Building.

The website can be found at www.buildzone.com

Or subscribe to the structural warranty blog: www.structural-warranty-blog.co.uk

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Insurance & Structural Warranty – getting the right cover in place

Embarking on a building, conversion or renovation project is an exciting if not somewhat daunting experience at the best of times and there is clearly a considerable amount of planning and preparation to be put in place prior to getting started. Insurance is probably going to be the least exciting of the items on that schedule of tasks but giving it due consideration in plenty of time can literally save thousands of pounds both now and in the future should you need to make a claim.

Simon Middleton – December 2010

Designated Warranty Link Scheme

So what insurance should you be looking to purchase and when? The short answer is it depends on your individual project, but here is a quick overview of some of the areas you need to consider.

Insuring a New Build:

Unless you are using a main contractor for the whole build and there is a written contract in place between the parties stipulating that the contractor is responsible for the entire project until completed and handed over to you, then you will definitely need to consider Site Insurance and a 10 Year Structural Warranty.

Site Insurance, which is available from Self-Build Zone provides cover from the moment you exchange on a plot to the point it’s completed. The following provides a bench mark of what can be covered with Self-Build Zone and why you need it – but it’s worth remembering that not every insurer provides the same cover and your individual needs may be different, so if you want some expert advice call 0845 230 9874 or visit the website www.selfbuildzone.com.

The Claims service is what you are buying so remember to ask your supplier who is likely be sent to your site following a claim. Is the claims service specific to self-build? Some insurers use general ‘in house’ loss adjusters who may not have much experience in self-build.

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