What is a retrospective building warranty?

Retrospective warranty is a type of warranty that covers residential or commercial structures that have been built or refurbished within the last 10 years. It falls under the bracket of structural warranty and ensures that defects can sometimes be referred to as completed home warranties as it is issued once the build process has been finished.

How does a retrospective building warranty work?

Retrospective warranty works by covering a property that has already been completed as opposed to structural warranty that you usually purchase before a build, refurbishment or conversion is started.

What does a retrospective building warranty cover?

A retrospective warranty covers any defects to the property such as leaking windows, electrical failures or heating system problems to name a few.

When might you need a retrospective building warranty?

It’s not uncommon for builders and developers to run into financial difficulties during or after completion of a project. If you’ve acquired a part-built or completed property development that isn’t covered by a residential building warranty, CIR is here to offer a prompt, professional solution that enables you to move forward.

Is any property eligible for a retrospective building warranty?

Not all properties are eligible for a retrospective building warranty. Eligibility is typically limited to properties that meet the following criteria:

  • Age of the Property: The property must have been built, converted, or undergone major renovations within the last 10 years.
  • Existing Warranty: The property must not have an existing structural warranty in place.
  • Type of Work: The renovations or construction must have been significant and structural in nature.
  • Building Regulations Compliance: The property must have been built or renovated in compliance with the relevant building regulations at the time.

To determine the specific eligibility criteria for your property, we would advise that you speak to one of consult with a specialist or directly with a warranty provider. They can provide tailored information based on your property’s unique circumstances and help you understand if a retrospective building warranty is a suitable option.

Who needs a retrospective building warranty?

Retrospective building warranty is for those that own a property that has been built or refurbished within the last 10 years and want:

  • Structural warranty for peace of mind so they know that they are protected against structural defects.
  • To sell or refinance the property and doesn’t have any existing warranty

What are the benefits of a retrospective building warranty?

There are a number of benefits of getting retrospective warranty for your property if you have built or refurbished it within the past 10 years.

Benefits for homeowners include that it can save them from costly repairs and the financial strain of paying out for fixes.

Having retrospective warranty can also mean that property’s value is enhanced as buyers are more likely to purchase homes that are covered for structural damage due to wanting peace of mind in case anything goes wrong within the first 10 year period of the property being built or refurbished.

By not getting retrospective not only means that you aren’t financially covered for any structural defects but if you want to take out finance on the property you more than likely wont be able to due to this being a criteria for lenders.

How much does a retrospective building warranty cost?

There are a number of factors that influence retrospective warranty costs such as property age, size, location, and construction quality that will be considered when determining your premium.

  • Property Age: Older properties often cost more to insure due to requiring more comprehensive coverage and inspections
  • Property Size: Larger properties generally have higher premiums due to increased potential for defects and the higher cost of repairs.
  • Property Location: Properties in high-risk areas such as flood zones/earthquake zones may have significantly higher premiums due to the level of risk associated with these types of areas.
  • Construction Quality: High-quality construction can lead to lower premiums as they are less likely to develop defects, while poor quality may increase costs.
  • Insurer’s Risk Assessment: The insurer’s evaluation of the property’s risk profile will also impact the final cost.
  • Property Type: Depending on whether the property has been for commercial or residential purposes will also have a part to play in determining the retrospective warranty cost.

How do I obtain a retrospective building warranty?

There are 5 main steps to obtain retrospective building warranty:

  • Contact a Warranty Provider: Reach out to a specialised retrospective provider such as CIR.
  • Property Assessment: The provider will conduct a thorough survey to inspect the property’s structural integrity.
  • Documentation: Provide necessary paperwork and documents like building regulations approval, energy performance certificates, and electrical/gas safety certificates.
  • Premium Payment: Pay the premium for the warranty, which covers the remaining term of the 10-year warranty period.
  • Policy Issuance: Once the assessment is complete and the premium is paid, the warranty provider will issue the policy.

Arrange a call back

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.

A portrait shot of Oliver Griffiths, CIR Divisional Director.

“At CIR, we recognise that oversights can occur. We are fully equipped to support retrospective projects, offering comprehensive coverage tailored to our clients’ needs.”

Oliver Griffiths, Divisional Director – CIR

CIR Structural Warranty Portal

SPECIALIST STRUCTURAL SURVEY APP FOR FAST, EFFICIENT RESULTS

We appreciate that time is often of the essence in these instances, which is why we’ve developed our own specialist surveying app to enable a structural survey to be carried out as quickly and smoothly as possible. This cloud-based solution enables our surveyors to upload their findings directly to your personal Online Portal.

CIR Team

PROMPT AND PROFESSIONAL SUPPORT THROUGHOUT THE PROCESS

Whether you require a part-built structural warranty or a completed housing warranty, CIR is well-equipped to provide efficient and dedicated support. Our experienced account managers are on hand to support you throughout the process, from your initial enquiry through to receiving your retrospective structural warranty.

Why CIR?

We're Committed to Transparency

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.

Arrange a callback

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.

Retrospective Building Warranty FAQ's

A warranty on a new build home is insurance against potential defects or structural issues. It provides protection for both the buyer and the lender. Therefore, most mortgage lenders require a warranty for new builds.

Without one, securing a mortgage is extremely challenging. This is where a retrospective building warranty can help.

We understand that every second a part-built or completed new build remains unprotected represents lost opportunities and revenue.

CIR’s surveyors and dedicated account managers have the skills, technology and experience needed to ensure a swift and efficient resolution. Protect your investment today with CIR.

Resources & Guides

Retrospective Building Warranty