J3 Advisory Conversion Warranties
Building Warranties for Conversions & Refurbishments
J3 Advisory Conversion Warranties
Building Warranties for Conversions & Refurbishments
A conversion warranty is an insurance policy that specifically protects against defects that may occur within the structure of a newly converted project.
Major structural faults can often be costly to put right, which is why it is vitally important to seek the right advice and obtain the most appropriate insurance. Where a property is being converted for residential use, a conversion warranty is required to satisfy mortgage lenders, who will also insist that a recognised and reputable policy is in place for each newly built property.
For example, if you built a block of flats a few years ago and now wish to sell, the new purchasers’ mortgage lender will require that a suitable structural warranty is in place. Alternatively, if you wish to refinance your existing loan with another provider, the new lender will also require that a warranty be in place.
Conversion warranties from J3 Advisory
J3 Advisory is trusted by developers across the UK to source and advise on the most appropriate policies for their clients’ developments. If you wish to speak to an advisor, call us on 020 3096 0718 or fill in our enquiry form online.
Why use J3 Advisory?
Here are just a few of the reasons why you should consider J3 Advisory for arranging conversion warranties and insurance on your next project:
We only work with ‘A’ rated, UK based insurers for structural warranties and latent defects insurance. Given that the period of cover for a structural warranty is ten or twelve years, it’s essential to ensure that the insurer’s underwriter holds a financial rating from one of the UK’s ratings agencies. While no one can completely guarantee the solvency of any entity, these ratings provide a robust evaluation of a company’s creditworthiness and give assurance that the insurer is reputable and likely to remain operational throughout the duration of the policy should it need to be called upon.
The structural warranty and latent defects insurance cover we arrange is accepted by leading banks and building societies, which means buyers can obtain a mortgage to purchase a home from you.
A Tailored Service for Developers
At J3 Advisory, we understand the market and recognise that no two developments are the same. That’s why we go beyond simply arranging structural warranties and latent defects insurance. We carefully identify the right insurers for your specific needs, handle all aspects of policy arrangement, and manage queries on your behalf to ensure a smooth process. Our dedicated after-sales service means we continue to support you after the policy is in place, proactively addressing any issues and ensuring everything stays on track, so you can focus on delivering your development with confidence.
Conversion warranty FAQs
How Are Conversions and Renovations Defined?
Conversions and renovations involve modifications to an existing structure, often aimed at enhancing, extending, or restoring parts of the property. These projects frequently result in a change of use, such as transforming a commercial building into residential units. To support developers and builders, J3 offers structural warranties tailored specifically for the unique challenges of conversion and renovation projects.
Why is a conversion building warranty important for converted properties?
Converted buildings often integrate existing structures with new elements, which can create unique risks, such as defects in the original construction or incompatibility with new materials. A conversion building warranty mitigates these risks by providing long-term protection against latent structural defects.
How do retained structures in a conversion affect the warranty?
Retained structures must meet specific criteria to be covered. Insurers may require detailed structural reports or remediation work to ensure they are sound and comply with modern standards.
What are the key risks considered in a conversion building warranty?
Insurers focus on risks like structural weaknesses in retained elements, damp or water ingress, fire safety, and compliance with modern building regulations. Projects involving listed buildings or heritage assets may face additional scrutiny.
Are pre-existing defects covered by a conversion building warranty?
No, pre-existing defects are not typically covered. A warranty covers latent structural defects that arise after the warranty begins. Pre-existing issues need to be addressed before the warranty is issued.
What kind of due diligence does the warranty provider perform before issuance?
Warranty providers usually conduct a thorough risk assessment, including:
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Reviewing project plans and specifications
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Inspecting the property throughout construction
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Verifying compliance with building regulations and standards
What factors influence the cost of a conversion building warranty?
Costs are influenced by:
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The property’s size, complexity, and value
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Retained structural elements and their condition
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Project type (e.g., residential or mixed-use)
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The insurer’s risk appetite