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
  • Allied Irish Bank (GB)
  • Arbuthnot Latham
  • Astra Mortgages (BSA Mortgage Instructions)
  • Atom Bank
  • Aviva Equity Release UK Ltd
  • Axis Bank
  • Bank of Ireland (Northern Ireland)
  • Bank of Ireland (ROI)
  • Bank of Ireland (UK)
  • Bank of Scotland Beginning A
  • Bank of Scotland Beginning O
  • Barclays Bank
  • Beverley Building Society
  • Birmingham Midshires
  • Bluestone Mortgages
  • Buckinghamshire Building Society
  • Cambridge Building Society
  • Capital Bridging Finance Solutions
  • Chelsea Building Society (Yorkshire Building Society Group)
  • Chorley & District Building Society
  • Coutts & Co.
  • Coventry Building Society
  • Cynergy Bank (formerly Bank of Cyprus)
  • Danske Bank
  • Family Building Society
  • First Direct
  • First Trust Bank
  • Fleet Mortgages
  • Foundation Home Loans
  • Gatehouse Bank
  • Godiva Mortgages Ltd (Coventry Building Society)
  • Halifax
  • Halifax Loans Ltd
  • Hampden & Co plc
  • Hampshire Trust Bank
  • Handelsbanken
  • Harpenden Building Society
  • HCF Partnership
  • Hinckley & Rugby Building Society
  • HSBC
  • ITL Mortgages (Coventry Building Society)
  • Jasper (Topaz Finance)
  • KBC Ireland
  • Kensington Mortgage Company
  • Kent Reliance
  • Landbay Mortgages
  • Leeds Building Society
  • Leek Building Society
  • Legal & General Home Finance Ltd
  • LendInvest
  • Lloyds Banking Group
  • Magellan Homeloans
  • Market Harborough Building Society
  • Metro Bank
  • Molo Finance Buy to Let Mortgages
  • Monmouthshire Building Society
  • National Counties Building Society
  • National Westminster Bank Plc
  • Nationwide Building Society
  • Nedbank Private Wealth Ltd
  • New Street Mortgages
  • Newbury Building Society
  • Norwich & Peterborough Building Society
  • OneSavings Bank (InterBay, KRBS, Heritable Development Finance & Prestige)
  • Paragon Banking Group PLC
  • Paratus AMC Ltd
  • Penrith Building Society
  • Precise Mortgages (Charter Court Financial Services Ltd)
  • Principality Building Society
  • Progressive Building Society
  • Proplend
  • Roscina Mortgages (Topaz Finance Ltd)
  • Saffron Building Society
  • Sainsbury's Bank
  • Santander UK PLC
  • Swansea Building Society
  • Teachers Building Society
  • Tesco Bank
  • The Mortgage Business
  • The Mortgage Works
  • The Royal Bank of Scotland PLC
  • The Tipton & Coseley Building Society
  • Topaz Finance Ltd
  • Ulster Bank Ltd
  • Vida Home Loans
  • Virgin Money
  • Yorkshire Building Society
  • Zephyr Mortgages (Topaz)