In some instances, we receive commission from the warranty provider or insurer when transactions are complete. In all instances, we will provide you with a full, clear breakdown of all costs as part of your formal quote.

A Structural Warranty can go by many different names in the industry, including: –
Structural Insurance
Structural Warranty
Latent Defect Insurance (or cover)
Inherent Defect Insurance

But all are largely interchangable.
If you are selling a new, or newly converted home that is less than 10 years old, many lenders will require the seller to have in place a structural warranty. These warranties are usually arranged prior to building work commencing, but sometimes are overlooked and are then required to be purchased retrospectively.
When acting for a purchaser, a solicitor or conveyancer will request sight of a warranty certificate, prior to exchange of contracts. The requirement to provide insurance protection on new and newly converted home is detailed in the UK Finance (CML) lenders handbook.

The structural warranty typically covers the following areas:
– Foundations
– Load-bearing retaining walls
– Roof covering
– Floor decking and screeds, where they fail to support normal loads
– Wet applied plaster
– Double or triple glazed panes to external windows and doors
– Underground drainage that the policy holder is responsible for maintaining.
– Cover is in relation to a defect in the design, materials, workmanship or components

In almost all instances, cover commences at what is known as ‘practical completion’ of the construction works. This is usually when the Building Control Certificate is issued for the property.

The price of your warranty will typically be based on the rebuild cost for your property.  There are factors which may influence the price, including the number of years relevant experience the builder or contractor has, as well as the type of materials being used, for example traditional materials and a standard design Vs non-standard materials and an innovative design.

If the warranty is being purchased retrospectively, then it is likely that it will be more expensive, and some warranty providers will even decline to provide cover. This is because providers usually undertake key stage inspections throughout the build as part of their own risk management. Any issues during the course of construction can be highlighted, which also helps the builder, or contractor. If the warranty provider is unable to undertake these inspections it increases their risk exposure.

A guide price or NBI (non-binding indication) is an indication of costs based on some basic information being presented to a warranty provider. It is rare for an NBI to change, but once further information is provided a formal ‘binding’ quote is provided. Compariqo will assist you with this every step of the way.

Yes. The cover is on the property. Cover will continue on the property for a ten-year period, irrespective of ownership, or subsequent purchasers.

No. Mortgage lenders will approve specific ‘named’ warranty providers. If you are a developer selling a new development, it’s important to check whether a warranty provider has a high number of lender approvals, otherwise you may find the home(s) you’re building are difficult to sell, as lenders will not release funds if they do not approve the warranty provider.

In addition to Compariqo’s own approvals, we work with a number of providers in the industry and have different product structures that allow us to offer you a products that can be accepted by over 95% of active UK mortgage lenders.

No. The structural warranty market has broadened a lot, particularly over the last 10 years. This promotes greater choice not just on price, but importantly on the cover available based on different types of developments. Compariqo provides a transparent unbiased view of the market so you’re better informed on the options available to you.

Experience does matter, but unlike other providers in the market, we do not use builder experience to blindly load quote prices. We are strong advocates in the market for consumer protection, and ensuring that quality homes are provided in the market.

If a builder or their Project Manager doesn’t have what would be considered ‘reasonable’ building experience, we will work with our customers to try and find reasonable solutions to moving the insurance requirements forward. 

Development finance is a type of loan which can be used to make major changes to a property, or develop a new site from scratch.

We cater for projects across the whole of England, Wales, Scotland & parts of Northern Ireland.

Our development loans range from £50k to £100m.
We can fund up to 75% of the Gross Development Value, and up to 90% of the overall development costs

Should you complete your project ahead of schedule, there are no penalties for paying back the Development Loan early. You will only be charged interest on the length of time the money was borrowed for.

Interest is charged only on the funds drawn down from the loan facility. Any funds that have not been utilised will not incur any interest.

Yes, funding is secured against the site value, so even if you don’t have the strongest credit history we can still help you.

You will have the choice of either servicing the interest on a monthly basis, or have the interest “rolled-up” into the loan facility. If you opt for rolled-up interest, there will be no monthly payments applicable, instead all interest and fees are added to the loan amount and payable upon completion of the project.

No, we can provide finance for almost any type of property-related asset, including but not limited to:
– Land with or without planning permission
– Residential properties
– Semi-commercial properties
– Commercial properties & Office spaces
– Leisure Centres
– Golf Courses
– Pubs/Restaurants
– Hotels
– Places of worship
– Industrial units

A feasibility study of your development would be required.

Yes! Once the project has reached practical completion, we can assist with refinancing the project under a Buy-To-Let Mortgage or Term Loan, allowing you to retain the property you’ve built as part of your portfolio.

Not at all! Many of our lenders offer “dual representation”, meaning the lender will appoint a solicitor to act on behalf of both themselves, and you as the client. Opting for dual representation can also help to speed up the application process!

These are staged payments made against works carried out on the property.

Drawdowns can vary from project to project but are usually released as follows:
– Land value – an initial draw down against either the purchase cost or the value of the land (if already owned).
– Initial costs including the footings and foundations.
– Wall plate which is the basic external structure of the project.
– Wind and water tight which primarily means the windows and the roof.
– 1st fix which includes the plastering and the initial installation of the electrics.
– 2nd fix to complete the electrics and any finishing work required such as painting and decorating, landscaping etc.

A bridging loan is a type of short-term finance, typically taken out for a period of 1 month to 3 years, depending on your requirements.

Bridging loans can be useful to a variety of different people for a number of different reasons, and come with an array of benefits:
– The applicant is beyond the age limit for a traditional mortgage
– The applicant may be asset rich but cash poor
e. not enough income proof to pass the required affordability calculations needed to obtain a mortgage
– The applicant may have poor credit
– The property may be classed as “not standard security” for a mortgage
e. the property could be without a kitchen/bathroom or in need of modernisation, making it uninhabitable
– The seller may only accept offers from buyers who are chain-free, such as cash buyers or buyers with bridging finance
– The funds may be needed as a matter of urgency
– The funds may be needed for a specific requirement, not deemed acceptable to traditional mortgage lenders
– The funds may be for a short-term requirement where the applicant doesn’t want to be tied in for a fixed commitment period
– The borrower wants minimal hassle

– Clients who can or cannot prove income
– Clients with an excellent or impaired credit rating
– Clients who are employed, self-employed or unemployed
– Companies or individuals
– Anyone with equity in their property or an available cash deposit

– Our bridging loans range from £26k to £100m
– We can fund up to 80% of the current value of the property

Yes, funding is secured against the site/property value, so even if you don’t have the strongest credit history, we can still help you.

You will have the choice of either servicing the interest on a monthly basis, or have the interest “rolled-up” into the loan facility. If you opt for rolled-up interest, there will be no monthly payment applicable; instead all interest and fees are added to the loan amount and payable upon completion of the project.

No, we can provide finance for almost any type of property-related asset, including but not limited to:
– Land with or without planning permission
– Residential properties
– Semi-commercial properties
– Commercial properties & Office spaces
– Leisure Centres
– Golf Courses
– Pubs/Restaurants
– Hotels
– Places of worship
– Industrial units

Provided we have all the information and documentation we need, loans can be secured, from application to drawdown, in as quickly as 10 days!

Our Buy-To-Let Mortgages range from £50k to £3m+
We can fund up to 80% of the current value of the property
Our Commercial Investment Mortgages range from £100k to £50m+
We can fund up to 75% of the current value of the property

– Last 3 months of Payslips (if employed)
– Last 2 years of SA302s & Tax Year Overviews (if self-employed)

We offer Buy-To-Let Mortgages with no minimum income required. As long as you submit a Tax Return each year or receive a payslip for your income, no matter how much it may be, you will still be eligible!

– Certified copy of Proof of Address (dated within the last 3 months)
Proof of Address can be any of the following:Bank Statement
Utility Bill
Current Driver’s License
P45/P60 Tax Coding Letter
Tenancy Agreement
– Certifies copy of ID
ID can be any of the following:Passport
UK Driver’s License
UK Firearms Certificate
– Property Portfolio containing all additional Buy-To-Let properties owned
 
– Last 3 months of Bank Statements

A certified copy is a clear photocopy of the original document which should be: signed, dated and “certified” with the wording ‘Certified as a true copy of the original’ by a professional.
The certifier should print their full name and occupation on the document. The list opposite are some of the acceptable professions.
Documents can also be certified at the Post Office using their Document Certification Service, however they will charge a fee for this. 

– Accountant
– Bank/Building Society official
– Barrister
– Chairman/Director of a Limited Company (registered at Companies House)
– Commissioner of oaths
– Dentist
– Doctor
– Teacher/Lecturer
– Financial services intermediary e.g. IFA Registered stockbroker or insurance broker
– Justice of the Peace
– Member, associate or fellow of a professional body
– Member of Parliament
– Notary Public
– Nurse (RGN or RMN)
– Optician
– Person with honours (e.g. an OBE or MBE)
– Pharmacist
– Police officer
– Post Office official
– Solicitor

Yes! We work with a broad range of clients, from the most highly experienced property portfolio owners, to those looking to make their first Buy-To-Let investment. 

– Detached, semi-detached or terraced houses
– Leasehold Flats
– HMOs (Houses of Multiple Occupancy)
– MUFBs (Multi-unit Freehold Blocks – up to 1,500 units)
– Offices, warehouses, pubs, leisure centres or other commercial spaces

We cannot assist with any gambling-related premises (e.g. Betting Shops & Casinos)

Absolutely! Whether you are a UK Resident, Ex-pat, Foreign National or Non-domicile, we have a Buy-To-Let product suitable for you.

Not at all! There is no limit on the number of properties you can have in your Buy-To-Let portfolio. We work with a diverse network of lenders, helping to finance anything from a single-unit purchase to a portfolio refinance of up to 1,500 units!

Not at all! Unlike many other providers, we work with lenders that have no restriction on the number of properties you can refinance within a single postcode.

– Minimum age of 25 years old for first-time landlords, and 21 years old for existing landlords
– The maximum age is 85 years old at the end of the mortgage term.

Yes, we welcome applications on behalf of Limited Companies. We will always request a personal guarantee from the Directors and complete our full due diligence investigations on all Directors and Shareholders with shareholdings greater than 25%. 

Overpayments of up to 10% of the outstanding balance can be made each year.