62 FINANCE, INSURANCE & SOFTWARE; GROUNDWORKS
• Structural Defects Insurance Period: Three to 10 years
During the structural defects insurance period, developers are responsible for major structural problems such as loadbearing floorswalls, foundations, the roof structure, ceilings and chimneys.
WHAT IS COVERED UNDER STRUCTURAL DEFECTS INSURANCE? Generally, these insurance policies cover structural defects due to defective design, materials or quality. These can be issues related to poor ground conditions, damage caused by incorrect or poor-standard construction methods and the cost of correcting or remedying faulty construction.
Features to consider when choosing a structural defects insurance provider for new build housing developments built for residential sale: • 10 year residential development structural defects insurance policy, backed by financially secure Arated insurers
• Part of a Consumer Code • Accepted by the majority of lenders in the UK and an associate of UK Finance
• Fast quotation turnaround
• Quick response from professional, nationwide technical auditing or survey service
• Flexible payment method • Full risk transfer in years three to 10 of cover
• Cover as standard for alternative accommodation, additional costs, debris removal, and professional fees.
BUILD TO RENT SCHEMES
ther types of cover include inherent latent defects policies for Build to Rent Schemes. Many house developers are choosing to expand their offerings into the Build to Rent (BtR) sector, contributing to the increasing number of opportunities emerging in key cities across the UK. BtR involves the creation of residential properties expressly for rent and not for sale to individual homeowners. Structural defects insurance for BtR schemes works slightly differently from new homes built for residential sales as there is no lender requirement or code of conduct.
As this sector grows and evolves, uild
to Rent is poised to become a key player in meeting the UK’s housing requirements and defining the future of renting. Features to consider when choosing a structural defects insurance provider for Build to Rent developments include:
• ongterm A rated insurer capacity • Single structure limits available in excess of £300m
• Cover offered on a Full Value Reinstatement Basis, with no inner financial limits
• 10 or 12 year policy period • Loss of rent cover • Each project is individually underwritten and technically appraised, meaning that there is no technical manual to adhere to – giving you greater creativity in the scheme’s design
• An inhouse technical team and independent auditors will provide input and advice from the design stage to practical completion.
Structural defects insurance policies provide security and protection against structural defects and enhance a developer’s reputation by demonstrating a commitment to quality and customer care. Housing developers can ensure projects are risk-averse, compliant, and appealing to modern homebuyers and investors, especially when selecting an Arated specialist structural defects insurance provider.
Peter Richardson is managing director of Build-Zone
Salamander Pumps launches MainsBooster
MainsBooster by Salamander Pumps comprises of 11 different products, featuring inline pumps and accumulator tanks, and is designed to provide a quiet, lightweight and easy-to-install solution, from a single outlet to the whole house. As part of this range, TankBoost, is an easy
to install, single unit solution that delivers flow rates up to 80 L/min and pressures up to 3.0 Bar, ideal for even the busiest homes where showers, taps, toilets and more are being used at the same time. TankBoost has been designed to meet the water pressure and flow needs of domestic and light commercial installations.
sales@salamanderpumps.co.uk www.salamanderpumps.co.uk/TankBoost Coloured Precast Concrete Headwalls
Althon are now able to offer coloured headwalls for aesthetically sensitive areas. Our coloured concrete headwalls can help the installation blend into the surrounding landscape.
Althon use a colouring additive for cementitious materials. It provides a uniform streak free colour.
Colours shown are approximations of our colour mix in a typical concrete using mid grey Portland cement and having an as-cast surface. The final colour is affected by many influences.
HBD12_Salamander_PR.indd 1 MSP Capital appoints Commercial Director 02/01/2025 14:37
MSP Capital proudly announces Adam Tovey’s appointment as commercial director, marking his second promotion in two years. Since joining in 2010, Adam has excelled in roles including valuation director and director of risk and underwriting, contributing to major client
portfolios and innovative product development. With nearly 20 years of experience in property and financial services, Adam’s leadership has already driven initiatives like reduced rates on Development Exit Bridging Loans. In 2025, Adam’s focus will be driving strategies that support revenue growth, build on our already strong reputation in the market and lead on future business development opportunities.
01202 743400
mspcapital.co.uk WWW.HBDONLINE.CO.UK BD08_Althon_QP.indd 1 19/07/2023 10:14
HBD12_MSP_PR.indd 1 06/01/2025 09:13
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