2024-04-22March 25, 20242024-03-25
Latent Defects for Property Developers

A Structural Warranty isn’t just for Residential Developments. Although many property developers use a Structural Warranty to cover new build residential developments, there are also many other areas they can be used.

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With demand across the UK being high for housing, changing landscapes and post-coronavirus ways of working have forced many landlords to seeking alternative uses for properties that were previously used as commercial office space.

Many landlords and developers are taking advantage of relaxed permissions on development rights and are converting vacant office blocks into residential apartments, which often requires structural changes.  A structural warranty can be used to cover the works for a period of up to ten years.

A Structural Warranty can cover developments where there is an element of commercial use mixed with residential.  For example where the ground floor is a shop with residential apartments above.

Mixed-use structural warranties offer cover to property developers with projects that incorporate both residential and commercial units to offer comfort to homeowners and commercial property owners alike that their property is covered with A-rated insurance.

This could involve buildings that are intended solely for commercial use, such as shops, warehouses or industrial units.

Our commercial warranty cover will protect commercial owners from the financial implications of any structural defects that could occur in the first ten years after build completion.

From care homes, to gyms, commercial centres and hotels, Compariqo can offer competitve A-rated latent defects insurance.

We know it can be daunting to arrange a structural warranty, that’s why we’ll guide you through the whole process, from initial quote through to final certificate.

Compariqo offers bespoke re-financing and insurance solutions to the property sector. Contact one of our advisors today.

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