UK’s leading self-build insurance and structural warranty providers launch in Irish Market

Self-Build Zone and Build-Zone, are delighted to announce the roll-out of their services into the Irish market as negotiations reach their final stages.

 

Sennocke International Insurance Services, a general insurance operation based in Sevenoaks, Kent, are the scheme administrator for the Build-Zone 10-year structural warranty product as well as the Self-Build Zone Site Insurance product range.

Self-Build Zone provides Site Insurance and Structural Warranty products for New Builds, Renovations, Extension and Conversion projects whether they be DIY Home Improvement, a New Build, or a major Renovation. With over 20 years’ experience in the self-build insurance market, they are excited to announce that they have launched their insurance products in Ireland.

Build-Zone was created as a 10 Year Structural Warranty provider in 2003, they are experienced in underwriting warranties for all types of developments, from single unit self-builds to large residential or commercial developments. Whatever your project, they can help provide the 10 Year Structural Warranty you need as well as using ‘A’ rated Insurers.

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If your mortgage is the single biggest expenditure, see the guide to Remortgaging in 2015

If your mortgage is your single biggest expenditure, cutting its cost is likely to be your biggest single money saver.

UK mortgage market

The UK mortgage market is one of the most competitive in the world, yet the number of deals out there makes it hard to know what’s best for you. There may be a deal out there for you, but it’s got tougher. Therefore the aim is to find the best deal for you and to figure out whether you’re eligible for it.

This guide is for anyone who already has a mortgage on their home. A re-mortgage can be for many reasons – maybe you’re coming to the end of your current deal, or your deals no longer right for you. Or maybe you want to try and cut costs, or consolidate debts?

Remortgaging means shifting your mortgage from one lender to another to get yourself a better deal, you don’t even have to move house to do it. There are many reasons why re-mortgaging could make sense for you but the main one is simple, saving money.

A mortgage is the biggest financial commitment for most people, for some; sticking on the standard variable rate (the rate you ended up paying after your introductory offer has ended) is the best option. However, it is always worth challenging your current lender to give you a new offer as it could reduce the fees you pay to get a new deal.

If you feel that it is time to move onto the next provider, remember that although this will save you money in the long run, re-mortgaging comes at a price. Mortgage interest rates have dropped, the fees lenders levy have increased significantly and you may need to pay an exit fee to leave your current lender and, depending on your deal and early repayment charge as well.

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Structural warranty provider Build-Zone strengthens team with two new appointments

Structural Warranty Provider Build-Zone has strengthened the team by announcing 2 new appointments.  Vicki Marshall and Chloe Hayward.

Vicky Marshall has progressed at Build-Zone from administration to a new position as Trainee Insurance Technician.  After leaving secondary school Vicky attended West Kent College where she studied Secretarial for 2 years.  She then spent 5 years as a secretary for a firm of chartered surveyors.  Vicky joined Build-Zone in April when she originally looked after the administration for the Build-Zone team including allocation of payments and the issue of all certificates.  Vicky is now training to become part of the underwriting team which involves the rating of premiums, issue of quotations and handling enquiries.

Vicky can be contacted on 0845 230 9873 or email Vicky.marshall@build-zone.com

Chloe Hayward is the newest member of the Build-Zone team.  She recently joined Build-Zone as Trainee Insurance Technician following three years studying at college at NWK College in Gravesend where she completed her exams in June 2012.  Chloe’s responsibilities include handling the administration for the Build-Zone team: the issuing of certificates, data entry and allocation of payments.  She also provides support to the other team members in producing quotations and corresponding with clients.

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Self-Build Zone host self build site insurance masterclass at the National Home Improvement Show 2011

Self-Build Zone announces that Simon Middleton, Director at Self-Build Zone hosted a Masterclass at the National Home Improvement show at Earls Court over the weekend.  Simon spoke on the subject of avoiding costly extension, improvement and renovation project insurance pitfalls.

Self-Build Zone are a leading provider of site insurance, the 10 year structural warranty, buildings insurance, technical audits, building control services, health & safety to the self build, extension and home improvement marketplace.

Site Insurance is essential for anyone planning an extension, renovation, conversion or new build project. Self-Build Zone have several different site insurance options to protect your project during the build process, including flexible short term extendable policies as well as the traditional 2 year policy.

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Minimising risk through a structured approach to self-build lending.

Article by Simon Middleton – June 2011

Self-Build lending is still perceived to be problematic even though it’s one of the largest home building sectors in the UK, ultimately delivering prime market property portfolios.  Issues of planning problems both prior to and during the build project, restrictive covenants, in addition to the usual income and accident related issues and the very nature of the project being undertaken continue to make lenders wary. But that’s not surprising when You consider the rather bespoke requirements of self-build lending are normally shoe horned into the existing home purchase structured product arrangement which relies on the valuation process and doesn’t really provide a thorough risk management approach.

Traditionally self-build customers are released funds based on a series of stage payment mortgages which are valued at stages by the lenders valuation surveyor. Whilst a valuer has good understanding of the construction process and is absolutely key to assessing anticipated final value, they may not have a full understanding of MMC and Ecobuild systems, or how to assess the property for compliance relative to planning permission and building regulations. It is very difficult for a valuation surveyor to provide the stage valuation the Lenders are relying on especially as the stage reached may not be relevant to the actual expenditure made. More importantly it doesn’t control what the self-builder is spending funds on.

A general lack of understanding by the self-builder and the lender of the requirements at this level means that contracts between the self-builder and their contractors or tradesmen are not always used, which increases the risk of the build going over budget and they don’t always utilise Site Insurance or a 10 Year Structural Warranty, all of which can easily be stipulated. For example:- Self–Build Zone have a contract service which caters for the creation of written legal contracts for the whole project and is less than £50.

To provide that increased degree of comfort to lenders then maybe they should be taking a more bespoke approach to lending into the sector as it seems to me that there are already the tools in place with which to adequately risk manage the construction process, it’s just a matter of implementing a standard framework and sorting out the communication between the various tools.

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