Raj786
Registered User
- Messages
- 10
Hello Everyone,
I am in the final stage of new house purchase and all the documents have been submitted by me and my solicitor to BOI mortgage team to withdraw the mortgage money from bank. We are just waiting on one document from our builder which is Homebond/Structural Defect insurance (10 years cover). Now, our builder is not registered under National House building guarantee scheme and that's the reason he is ready to give a structural guarantee to fix any defects for 6 years from the day of completion.
BOI is asking for Structural defect insurance but as my builder doesn't have it, he is ready to provide a Structural Defects Indemnity letter along with a compliance certificate from the architect who has surveyed this construction. Will this be sufficient for BOI to give them a guarantee/assurance on structural defect and start the process of mortgage drawdown?
Any suggestion/help/information will be very helpful. Thanks
PK
I am in the final stage of new house purchase and all the documents have been submitted by me and my solicitor to BOI mortgage team to withdraw the mortgage money from bank. We are just waiting on one document from our builder which is Homebond/Structural Defect insurance (10 years cover). Now, our builder is not registered under National House building guarantee scheme and that's the reason he is ready to give a structural guarantee to fix any defects for 6 years from the day of completion.
BOI is asking for Structural defect insurance but as my builder doesn't have it, he is ready to provide a Structural Defects Indemnity letter along with a compliance certificate from the architect who has surveyed this construction. Will this be sufficient for BOI to give them a guarantee/assurance on structural defect and start the process of mortgage drawdown?
Any suggestion/help/information will be very helpful. Thanks
PK