A Credible Alternative to a Structural Warranty
Whether you have a completed property that is under 10 years old, a property part-completed, or a property you’re about to start, Compariqo can arrange a Professional Consultants Certificate (PCC) for you at any stage.
A PCC is widely recognised and accepted by over 85% of high street lenders as an alternative to a structural warranty and can enable a buyer to obtain a mortgage.
The Professional Consultants Certificate (PCC) was first introduced by the Council of Mortgage Lenders (now UK Finance) in 2000 for use by professional consultants in the construction industry.
Also known as an “Architect’s Certificate”, the PCC is also widely used amongst other Professionals in the industry such as engineers or surveyors who are accredited to a professional institution.
Sometimes, a structural warranty may not have been arranged during a build, such as if the property has undergone a conversion which was deemed to not benefit from a full structural warranty, or if the property was a self-build project. It may also be that any cover that was previously arranged has lapsed or has been left invalid by the provider going out of business.
In these instances, a PCC is a fast, cost-effective way of providing a form of insurance cover for a property under 10 years old. A PCC will cover most types of residential properties and is widely accepted by mortgage lenders
We can give you an instant price over the phone
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We can get cover in place in as little as a week
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Fewer documents are required when compared to a structural warranty
All inspections carried out by RICS/CIOB surveyors.
A Professional Consultants Certificate confirms that the professional consultant:
- Is fully qualified in experience to monitor the construction and conversion of residential properties.
- Will retain a level of professional indemnity insurance to cover the respective liabilities under the certificate.
- Has made progress checks on the property to ensure that it conforms with drawing plans that were approved under building regulations and also under the building contract.
- Will be liable to the first and subsequent owners of the property for a period of 6 years from the date of the certificate.
Although a PCC (or a structural warranty) can be arranged at any point, the ideal time to arrange one is at the start of the build so that key inspections can be factored in to the process of arranging the certificate. This provides extra protection for the conveyancer’s client’s and can ensure building contracts are in order as well as plans and ground reports.
It’s important to bear in mind that a PCC is not an insurance policy and does not afford the same levels of cover as a structural warranty. However, they do provide insurance cover and are a credible option to enable the completion and sale of a new build property. Any claim brought will be done so against the professional indemnity insurance of the professional consultant who performed the inspection of the property and signed off as satisfactory on building controls standards.
A PCC is a credible and worthy tool to use when needing to provide assurance to a lender and confirmation that the property meets the conveyancing requirements as defined by UK Finance.
More information can be found in the UK Finance Lenders handbook: https://lendershandbook.ukfinance.org.uk/lenders-handbook/pcc/
See our PCC terms and conditions here
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I just want new cover in place, how quickly can I get this?
We can quote you directly and once you accept and pay your cover will be arranged.
Can I request a copy of previous documents supplied by the Developer for the original policy purchase?
Yes, you can contact the developer directly.
What is a retrospective policy?
This is when a construction has been completed and you are looking for cover after the build has completed.
Regalia Homes Kent Ltd
“From our first contact Compariqo’s communication was excellent. Their requirements were clear and precise and our reply’s actioned immediately, resulting in the issue of a new home warranty, problem free.
Scott was always professional yet friendly, and should the need arise we would not hesitate to use their services again.”
“I approached Compariqo as they offer a broader choice in the market place when it comes to structural warranties. The service was fast and efficient and I would recommend them to other companies needing to source a structural warranty for a new development.”
Developer, Taunton, Somerset
“After struggling for weeks with numerous brokers to find a provider for my structural warranty policy, Alex and Compariqo took complete control of the situation and sourced me a policy which enabled me to complete my remortgage. Alex in particular was excellent and kept me updated regularly. I would highly recommend Compariqo!”
“I used Compariqo after being let down by another company. Alex Flexman dealt with all my enquiries and helped me constantly through all aspects of the service. He was extremely helpful and very professional throughout the process. I would highly recommend Alex and Compariqo to any of my associates needing structural warranties.”
“If you are looking for a one stop shop solution to out of the box and standard borrowing then Compariqo Finance covers it all. Where other lenders have tried and failed Compariqo Finance will find a solution. The level of service from Thomas Naidu and colleagues is second to none. I am so grateful for their effort in finding a bespoke lender, and never gave up until we found what I needed for my complex situation. I have never had such a good experience in 25 years in the business. Thank you so much.”
“I contacted Jacqui to compare quotes on warranty companies for the conversion of the existing house into three flats. The flats all have separate entrances and the basement level has a lightwell. I found Jacqui to be very forthcoming with information, updating me regularly with correspondence she had received from the warranty companies and a delight in general to talk to. We now go to compariqo for comparisons for all warranty companies on any new developments we have coming up.”
Wow thank you for sorting this so promptly. You have saved me a lot of time & anxiety.
CSCL DEVELOPMENTS LTD
Excellent, prompt service and we will definitely be using you again during our next build. Both Steve and myself were impressed from our initial contact with Jaimie through to completion.
Jaimie explained in detail the insurance suitable and immediately emailed the contract for us to read. No sales pressure and responded when answers were required.
So, thank you again to you and your team at Compariqo.
Sandra and Steven Page