When a developer or contractor enters administration part-way through a project, the warranty can become invalid. There are instances where the situation is salvageable but often, the incoming developer or contractor will need to factor in the cost of the insolvency and receivership warranties to their budget.
Where a developer is looking to acquire a distressed site, it is always advisable to take expert advice on the warranty position, so you are in possession of all the facts before completing.
At J3, our advisors work not only with developers but specialist insolvency practitioners and lenders across the UK to arrange suitable insurances that enable all parties to progress and bring about a positive conclusion.
The benefits of our insolvency and receivership warranties include:
- Retrospective 10-year structural warranty from building regulation sign off
- Enables sales of unit or re-financing
- Policy cover for structural defects
- Assignable policy
- First party insurance
- UK Finance approval which is recognised and accepted by mortgage lenders
Why choose J3 Advisory for insolvency and receivership warranties?
All of our policies are underwritten by A-rated insurers, providing our clients total peace of mind.
Approved by all major lenders
The leading banks and building societies widely accept our recievership warranty, helping potential buyers obtain the mortgage they need to purchase a home.
Full market comparison
We scour the market to find the most suitable building warranty for each project.