Warranty cover for 9 new build ‘air space’ apartments in Walthamstow
15 September 2022
We have sourced warranty cover for 9 new build ‘air space’ apartments in Walthamstow, North East London.
Sum insured: £1.4m
Project: 9 new build apartments (vertical extension)
Location: Walthamstow
The project was not without its challenges:
- Extending on top of an existing building is always deemed higher risk – most warranty providers preferred project is standard new build
- The 9 new build units were at completion stage when the client engaged us for help obtaining warranty cover. Projects which are almost complete are difficult to source cover for, as warranty companies prefer to be involved from the beginning. The client had a Professional Consultants Certificates in place which didn’t satisfy some of the buyer’s lenders.
- The existing building was an 1970’s office building which had been converted to apartments in 2016, and did not have valid warranty certificates in place.
How Peritus helped:
The client had already approached the warranty market before speaking to us and was declined cover. By obtaining a full understanding of how the project and the existing building had reached the end of works without warranty cover in place we felt in a stronger position to approach warranty providers.
In scenarios like this the more supporting documents you can provide the better, as insurers want peace of mind that the project is been carried out by professionals who they can credit check and build in line with designs and recommendations.
We put together an executive summary to answer all pertinent questions and provided structural reports, calculations, floor plans, elevations, site plans and accommodation schedules to our panel of trusted warranty providers.
Within a few days of receiving all this information, the client was issued terms of cover!
As our in-house build warranty specialist, Doreen McCaghey manages build warranty provision for clients as well as maintaining productive relationships with build warranty providers to ensure the best terms for clients.
Call Doreen on 07892 728 779 or email doreen@peritus-group.co.uk
