A conversion warranty is a type of structural warranty designed specifically for properties that have undergone a conversion or change of use.
These projects often involve transforming existing structures into something entirely new, like converting an office block into residential flats or a barn into a home, meriting a specialised warranty solution.
Generally speaking, a conversion involves structural modifications to an existing building, which may include adding or removing structural elements.
In contrast, a refurbishment does not involve altering the structure of the property. Instead, it utilises the existing framework to create residential or commercial units.
Conversion warranty works by safeguarding homeowners and tenants from any structural defects that arise within the first 10 years of a conversion post-construction.
For coverage purposes, the definition of a ‘Conversion’ denotes a project that involves alterations, reinforcement, refurbishment, extensions, or similar modifications to one or more pre-existing buildings.
A conversion warranty may cover the following:
Conversion warranty doesn’t cover any work that is done on the conversion by the homeowner or tenant once the coverage starts, such as loft conversions or conservatories.
Other details that aren’t included in a conversion warranty include; day to day wear and tear, weather and lack of maintenance.
The advantages of acquiring a warranty for a conversion is that it gives the policy holder and potential purchasers peace of mind as mortgage lenders require a warranty when lending money against the property.
Conversion warranty is needed by anyone that is planning on converting or refurbishing a residential property that wants to cover structural defects for a period of 10 or more years.
If you wish for this converted property to have a mortgage against it in the future (for example if you want to sell it on), having a conversion warranty in place is a requirement for lenders which is important to bear in mind.
The definition of a ‘new build’ varies from one mortgage lender to another. Broadly speaking, most lenders agree that a new build is any property that has been built or converted in the last two years.
This will typically involve a change of use and either no prior habitation or limited tenant occupation under continued developer ownership. Learn more about new build warranties.
The short answer is: Yes. Conversions and Refurbishment need a warranty to protect your investment from structural defects, which can be costly to rectify without appropriate cover.
You will also find that the majority of lenders stipulate the need for a warranty from a recognised structural warranty provider if you plan to finance, sell or refinance the property.
At CIR, our chartered surveyors conduct comprehensive evaluations of your development projects, whether they are grade-listed or located within conservation areas. Our warranty ensures robust protection throughout the process.
Yes, conversion warranties are transferable, The Building Safety Act 2022 requires that conversions that come with a building warranty can be transferred to the buyer.
This means that the buyer of a property will have the same level of cover as the original policy holder and will pick up the coverage from where it has been left at on the date of sale completion.
CIR offers various types of conversion warranties to suit a range of projects. For instance, if you’ve converted a barn into a residential dwelling, we can provide a barn conversion warranty that protects your investment.
In the case of loft conversions, we can also provide a loft conversion warranty that covers unforeseen structural defects.
The cost of conversion warranty will depend on a case by case basis as there are a number of factors to consider. To find out how much your conversion warranty will cost, you can get an online quote here.
The time it takes to obtain conversion warranty depends on a range of things, but to get the quickest coverage we recommend starting your quote and application process as quickly as possible.
Want us to call you back at a more convenient time? Drop us your details here and someone will be on touch at a more suitable time.
“In recent years, we have seen a significant increase in conversion projects. Our tailored Conversion Warranty seamlessly supports both our new and existing clients, ensuring their projects’ success.”
Why CIR?
Empowering you with access to all your information guarantees that we maintain the utmost levels of accountability and customer service.
Every email is carefully attended to, each phone call meticulously recorded for our mutual protection, and your documents are freely available to view on our portal at any time.
We are committed to transparency and openness, ensuring you have full visibility into every aspect of our interactions.
A conversion building warranty from CIR acts like a safety net, providing financial protection against defective materials, workmanship or design. This type of specialised structural warranty is also recognised by a wide panel of major high-street lenders, making selling or refinancing your converted property a smoother process.
With a conversion warranty from CIR, you gain access to our user-friendly online portal. That means less paperwork and more control, with all your policy documents and real-time updates stored in one convenient, digital location that you can access anytime, anywhere. So you can follow your policy from foundation to finish and beyond.
Our 10-year conversion warranties are underwritten by specialist insurers, providing tailored cover for your conversion project. We’re also directly authorised and regulated by the Financial Conduct Authority (FCA) approved by Consumer code for new homes and an Associate Member of UK Finance.
Why CIR?
Empowering you with access to all your information guarantees that we maintain the utmost levels of accountability and customer service.
Every email is carefully attended to, each phone call meticulously recorded for our mutual protection, and your documents are freely available to view on our portal at any time.
We are committed to transparency and openness, ensuring you have full visibility into every aspect of our interactions.
Want us to call you back at a more convenient time? Drop us your details here and we will be in touch at a more suitable time.
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