Build Assure warranty approved by HBOS

Build Assure has announced the recent addition of major banking player HBOS to the list of lenders that have already approved its New Homes warranty insurance. Part of the Federation of Master Builders (FMB), Build Assure now has approval from 90 per cent of the current market’s mortgage providers for its building works and new homes warranty.

HBOS joining Build Assure’s approving list of lenders will only serve to expand the market opportunities for the purchase of warranties by new home buyers and house developers, according to Build Assure Director, David Hill.

“The addition of HBOS includes major banking institutions such as Halifax, Lloyd’s TSB, Bank of Scotland and Cheltenham and Gloucester. As such, 90 per cent of the UK’s current market of mortgage providers and lenders now approve of our New Homes warranty, so we anticipate uptake growing significantly this year.”

Launched in November 2012, Build Assure’s New Homes warranty has already proven successful within the new homes building sector, with a fast growing uptake amongst homeowners and developers.

Uniquely covering the building, not the builder, both the current and future owners of a property are protected for the valid time period under Build Assure’s New Homes warranty. Currently, cover can be provided for works up to a maximum contract value of £10 million pounds for single or multiple units. A cost-effective and flexible solution, Build Assure’s New Homes warranty provides builders developers and homeowners with the added security of being fully insured at Lloyd’s of London. A unique aspect of the warranty is the inclusion of title insurance within the policy providing both lenders and consumers with additional security.

Mr Hill continued: “Even though our New Homes warranty has only been in the marketplace for a few months, we are continuing to see its uptake increase, which is a sure sign that homeowners and builders were seeking such an offering. HBOS’ conviction in giving our New Homes warranty its seal of approval is yet another sign of confidence in the product we offer.’

To find out more about domestic and building warranties provided by Build Assure, including its New Homes warranty, visit fmbuildassure.co.uk.