Structural defects insurance for developers

Most lenders require to see a structural defect insurance policy from a recognised provider before releasing funds. This applies to all new residential properties as well as properties which are less than 10 years old.

As such, there are two main reasons you’ll probably need structural defects insurance as a developer. Firstly, you’ll need cover if you need a mortgage to finance your building project or development. But even if you don’t need to borrow for your own development, you’ll likely need structural defects insurance if you have plans to sell the property on (within 10 years) to someone who might need a mortgage. So finding a recognised and credible structural defects insurance specialist becomes a crucial part of any sale.


Structural defects insurance for homeowners and self builders

For most of us, buying a property is typically the single biggest investment in our lives. And seeing as the cost of righting a structural defect could cost as much as £40,000 in some instances, an insurance policy gives you peace of mind.

Most mortgage lenders require structural defects cover to safeguard new residential property developments before they release funds. For self-builders, mortgage funds are normally released in instalments at different stages of construction – these stage payments are only released once the construction has passed a key stage technical site inspection.

So, finding a provider that is widely recognised will speed up the mortgage process.


MORTGAGE LENDERS FROM COUNCIL OF MORTGAGE LENDERS (CML):

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  • Accord
  • Adam & Company
  • Aldermore Bank Plc
  • Astra Mortgages (BSA Mortgage Instructions)
  • Aviva Equity Release UK Ltd
  • Bank of Cyprus
  • Bank of Ireland (Northern Ireland)
  • Bank of Ireland (ROI)
  • Bank of Ireland (UK) Plc
  • Bank of Scotland Beginning A
  • Bank of Scotland Beginning O
  • Barclays Bank – Standard Life
  • Barclays Bank – The Woolwich
  • Beverley Building Society (BSA Mortgage Instructions)
  • Birmingham Midshires
  • Bluestone Mortgages
  • Buckinghamshire Building Society
  • Cambridge Building Society (BSA Mortgage Instructions)
  • Chelsea Building Society
  • Chorley & District Building Society
  • Coutts
  • Coutts Finance Company
  • Coventry Building Society
  • Cumberland Building Society
  • Danske Bank
  • Darlington Building Society
  • Family Building Society
  • Fleet Mortgages
  • First Direct
  • First Trust Bank
  • Foundation Home Loans
  • Godiva Mortgages Ltd
  • Halifax
  • Halifax Loans Ltd
  • Hampden & Co plc
  • Handelsbanken
  • Harpenden Building Society
  • Hinckley & Rugby Building Society
  • HSBC Bank plc
  • HSBC (Mortgage Express)
  • Intelligent Finance
  • ITL Mortgages
  • Kensington Mortgage Company
  • KBC Bank
  • Kent Reliance / One Savings Bank
  • Landbay
  • Leeds Building Society
  • Leek United Building Society
  • Legal & General Home Finance
  • Lloyds Bank Plc pre fixed 20/40
  • Lloyds Bank Plc pre fixed 50/30/77
  • Lloyds TSB Scotland plc
  • Magellan Homeloans
  • Metro Bank plc
  • Monmouthshire Building Society
  • National Counties Building Society
  • National Westminster Bank Plc
  • Nationwide Building Society
  • NatWest Bank Plc
  • Nedbank Private Wealth Ltd
  • Newbury Building Society
  • Newcastle Building Society
  • New Street Mortgages
  • Norwich & Peterborough Building Society
  • One Savings Bank (InterBay)
  • Paragon
  • Paratus AMC Ltd
  • Penrith Building Society (BSA Mortgage Instructions)
  • Principality Building Society
  • Progressive Building Society
  • Sainsbury's Bank
  • Santander UK
  • Santander UK (Alliance & Leicester Mortgages)
  • Scottish Widows Bank plc
  • Skipton Building Society
  • Swansea Building Society
  • Teachers Building Society (BSA Mortgage Instructions)
  • Tesco Bank
  • The Mortgage Business
  • The Mortgage Works
  • The Royal Bank of Scotland Direct Line Mortgages
  • The Royal Bank of Scotland plc
  • The Royal Bank of Scotland plc Direct Line One
  • The Royal Bank of Scotland plc First Active
  • The Royal Bank of Scotland plc Natwest One Account
  • The Royal Bank of Scotland plc One Account
  • The Royal Bank of Scotland plc Virgin One
  • The Tipton & Coseley Building Society
  • UCB Home Loans
  • Ulster Bank Ltd
  • Vida Home Loans
  • Virgin Money
  • Yorkshire Building Society Group