Nearly every new home within the UK is sold with a 10 year warranty. This could be from NHBC, Premier Guarantee or another provider. Regardless of who the 10 year warranty comes from, it will be made up of three parts.
In this blog post we would like to talk about the three parts of the new build property conveyancing, including warranties and snagging.
- Part One of the warranty covers any deposit paid on exchange of contracts. This guarantees your deposit if the builder was to become insolvent for example.
- Part Two of the warranty gives a limited guarantee from the builder for 2 years. This guarantee states that the property meets requirements, for example ‘NHBC requirements’. If there are any defects with your new build property you have to claim against the builder. Any terms of the guarantee can be enforced through the courts, a mediation scheme or yourself.
- Part Three of the warranty covers years 3 to 10. The warranty provider will guarantee a very limited range of mainly structural defects. This could be foundations, walls, double glazing, retaining walls, staircases or below ground drainage for example. It is important to note that things such as title conflicts, shrinking, cracking, boundary problems, kitchen and bathroom problems or minor snagging issues will not be covered.
How Can PDR Property Law help with New Build Property Conveyancing – Warranties & Snagging?
We would recommend that you speak to experienced new build property conveyancers in regards to your new build property. As your chosen new build property conveyancers we will ensure that these it a clause in the purchase of your new build home that requires the builder to do what is necessary in regards to your property, and the roads and drains around it.
We will review the contracts for you, before the exchange of contracts takes place. Our experienced conveyancers will recommend areas of your property you need to review before signing the contracts and exchanging contracts.
Our team of experts will give you the peace of mind that you’ll be happy in your brand-new home.