The Premier Guarantee, a range of products covering latent defects, has launched insurance cover for structural defects in houses less than 10 years old.
For houses less than 10 years old, banks and building societies will usually request a structural warranty against the risk of latent defects before a mortgage can be provided.
In the absence of such a warranty the entire conveyancing process can be brought to an abrupt halt whilst the appropriate cover is obtained.
The intermediaries involved in the process are not always aware of where to obtain the appropriate cover for their clients and an immediate remedy is often required in order for the sale/purchase to proceed.
The Premier Guarantee said its product protects both the interests of the owner and is freely assignable to any future purchaser.
The Premier Guarantee, a range of insurance solutions for latent defects cover, is provided by MD Insurance Services in association with insurer Trenwick International and technical auditors Carillion Specialist Services.
MD Insurance Services specialises in administering long term warranties for housing and commercial properties.
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