Policy Change for Capital Home Loans Solicitor Panel

Change Date: 11/10/2023
Association: UK Finance
Jurisdiction: England and Wales
Index: v.2023 No.1057

Policy changes relevant to
Capital Home Loans Solicitor Panel

Updated	~~20/06/2023~~	11/10/2023
6.7.1- What new home warranty schemes are acceptable to the lender?	The following are acceptable, please refer others: • National House-Building Council Buildmark Scheme (NHBC) • Building Life Plan • Premium Guarantee Scheme • Checkmate Castle 10 • LABC New Home Warranty • Build-Zone Structural Warranty • Zurich Municipal • Advantage • Aedis Warranties • Global Home Warranties • Protek • ICW • One Guarantee • Ark Residential New Build Warranty • A UK Finance compliant Professional Consultants Certificate (PCC) with accompanying Professional Indemnity Insurance	The following are acceptable: • National House-Building Council Buildmark Scheme (NHBC) • Building Life Plan • Premium Guarantee Scheme • Checkmate Castle 10 • LABC New Home Warranty • Build-Zone Structural Warranty • Zurich Municipal • Advantage • Aedis Warranties • Global Home Warranties • Protek • ICW • One Guarantee • Ark Residential New Build Warranty • A UK Finance compliant Professional Consultants Certificate (PCC) with accompanying Professional Indemnity Insurance (see 6.7.6 for details). CHL Mortgages will consider other warranty providers subject to: • Confirmation is received from the Surveyor that the warranty scheme is not a known unacceptable one; and, • The warranty scheme including the following features: o Be provided by an ‘A’ rated insurer by one of the following rating agencies A.M Best, Fitch, Moody’s or S&P. o Cover is for a minimum of ten-years from completion of the first sale. o Cover includes the cost of complete or part rebuilding in the event of a building defect or structural failure. o The policy is fully transferable to a subsequent owner / buyer or a mortgage lender in possession within at least the first 10 years. o Physical technical site inspections occurred at key stages on at least a sample basis. o The maximum claim must not be less than the re-build cost of the property. o Claim excesses should be reasonable (in general this should not exceed £1,000).