The Social Housing Warranty has been developed for housing associations, residential social landlords, developers and builders. It provides excellent levels of cover on the homes they are building or converting. It is suitable for regeneration projects and mixed use projects. To be eligible for the scheme, builders and developers must apply and be accepted to the Protek Register.
If the builder does not commence work on the home as a consequence of incapacity due to ill health or death of the builder or the due to the builder ceasing to trade or fraud, the Underwriter will refund the deposit paid by the customer or complete the home. (Only included where individually agreed).
The home is covered for 10 or 12 years from the date of completion, with the builder taking responsibility for defects occurring in the first 2 years of cover. The policy protects the home owner in the event the builder ceases to trade post completion. Full risk transfer occurs in years 3 to 10 or 12
The policy will indemnify the homeowner in respect of remediation expenses incurred in treating or isolating or removing any substance from the policyholder’s land in a controlled manner in accordance with the requirements of any statutory notice.
The warranty policy will indemnify the home owner (in years 3 to 10) for the remediation expenses incurred due to the failure of the developer to comply with Building Regulations and which has resulted in danger to the physical health and safety of the occupants in relation to the following:
