How to manage your risk during a self build project

Simon Middleton, Protek’s Managing Director will be hosting a Masterclass Session on how to manage risk during your self build project at the National Homebuilding Show in Birmingham later this month. During this insightful session he will be sharing many of the unforeseen issues that regularly occur on self build, renovation and conversion project. Seeing the real live claims that occur on sites like yours, will help you understand the risks that can affect you during your project.

Friday 24th March 12:30pm Master Class Theatre

Understanding where the issues lie is essential to help you take the necessary action to protect yourself. Sadly left without protection, these problems have the potential to put enormous pressure on you and your project financially. This is why lenders insist on you having the correct cover in place.

We will explain the insurance and risk management product solutions that are available to you. We will go through the detail of how these work in your best interest to help protect you in the event of a loss, damage or injury occurring on your site. 

Free Tickets to the National Homebuilding and Renovating Show

If you would like to attend, simply click here which will open the free ticket registration page.  You can attend the session which is held in the Masterclass Theatre on Friday at 12:30PM

Protek’s Simon Middleton highlights how to choose the right warranty provider for your self-build and specifically what differences to look for between providers.

Not every structural warranty provider understands the nuances of the self and custom build market. Unfortunately, this can make choosing the right warranty provider a little tricky, especially if this is your first project.

Self -Build and Custom Build projects require very specific warranty cover

Some warranty providers will treat a self-builder in the same as they would a developer. In this situation, the warranty quotation you receive will make you responsible for any claims in the first two years. That clearly isn’t going to be ideal and offer you little risk mitigation. They often require minimum levels of financial security from you to back up the responsibility being placed on you. To top it all, they can also require you to have several years building experience and  you may get just 18 months to complete the build.

In my twenty-six years of providing warranties in this industry, it is clear that not too many self-builders will fit that model. The reality is that most of this detail will be buried in the depths of a complicated quotation document. So, unless you read it very carefully, none of it would be established until you tried to make a claim, at which point it could be too late.

What to look out for 

A self-build warranty should provide cover on the basis you are building or managing the project, perhaps with little or no experience. Cover needs to start immediately you complete the property. The policy definitely should not have a defect period. This is because you are very unlikely to be in a position financially to rebuild your home out of your own pocket, if there is a major issue in the first two years.

If you are managing the new build, extension, conversion, or renovation of your new home – you need to think carefully about structural warranty and site insurance. Check who the insurer is and whether they are covered by the Financial Services Compensation Scheme. Importantly make sure you read and understand the implications of the conditions and any subjectivities. This is of paramount importance!

Protek have been providing cover for the self and custom build sectors for years. We understand the issues you face and can provide cover to suit the project you are undertaking. For more information just give us a call. 

Your project covered your way. Call 0333 456 8030

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Self-Build Insurance

Protek were delighted to be sponsoring the ‘Best Self-Build for under £250K’ award to this years winners KE-Design

The award for their ‘The Barn Field’ design was presented to Craig Marston by Protek’s Managing Director, Simon Middleton at Build It Magazine’s splendid 2021 Build-It Awards . It was an absolutely fabulous evening attended by all those in the industry that work tirelessly everyday to help make peoples dream homes a reality. 

Congratulations KE-Design for winning this closely contested category.

 

@ProtekSelfBuild were delighted to be back discussing site insurance & structural warranty in front of thousands of homebuilders, renovators and developers at the @HBR_Show in Harrogate at the weekend.

Protek are delighted to be sponsoring the Best Self-Build Under £250k category at the prestigious 2021 Build-It Awards this year.

Simon Middleton – Protek’s Managing Director said:

The Build It Awards have been an important accolade in the self-build industry for many years now. The widespread recognition of excellence in the respective categories can really make a difference to the winners, so we are proud to be associated with it. We wish all this years shortlisted entries the best of luck.

Shortlisted Entrants for the Best Self-Build Under £250k 

• A’Bear & Ball Architects – Milton Road
• Allister Godfrey Architects – Barn-Style Home, Cumnor
• CB Homes – Damson House
• Greenspace Architects – Earth Sheltered House
• Ke-design – The Barn Field
• Potton – The Allen-Godbold House
• Smart Home Technical – Smart Stanley

Find out more about the awards

Previous Winners for Best Timber Frame: Fleming Homes

   

Protek is proud to be sponsoring the Best Timber Frame Home at the Build It Magazine Awards this year in London.

Good luck to the shortlisted finalists!

• Cairnrowan Custom Homes & Scotframe – Linkwood
• Ecofast Systems – Graven Hill Project
• Facit Homes – Copperas Reach
• Fleming Homes – Fair Isle
• Flight Timber Structures – Samford House
• Frame Technologies – Leadon Dale
• Lovingly Engineered Architectural Practice and Mac Eye Projects – Larch Corner Passivhaus
• MBC Timber Frame – Lyncroft House
• Scandia Hus – Summers Farm
• Susan Weston & Paul Davis – Graven Hill Home

 

 

The Build It Awards ceremony 2019 will take place on Friday 29th November, at the Hilton Bankside, London.

Buckinghamshire Building Society have today confirmed the approval of the Protek Warranty for lending purposes.  Protek Selfbuild’s Simon Middleton said “Buckinghamshire Building Society have a history of ‘doing the right thing’ and are an important lender in the self build sector. We are confident the Protek warranty will also be accepted by other BSA members going forward.”

SELF BUILD WARRANTY PROVIDER PROTEK. Protek Group Limited, part of Lloyd’s broker Lucas Fettes & Partners is a self build insurance and structural warranty provider that specialises in Self build warranty or latent defects insurance. It is an associate member of the CML. Our range of structural warranty products are backed by class leading Lloyd’s security. Insuring your next development project with Protek means you will be getting the cover you require, combined with excellent levels of service both on and off the construction site at a price that represents excellent value for money. Our new home structural warranty product solutions include, residential development, retail, mixed use, regeneration, conversion, self-build and custom build.

For more information on lenders that have approved the Protek warranty or our structural warranty products, please check out the listing on our website www.protekwarranty.co.uk or call Protek on 0333 456 5040.

Tags: #Structural#Warranty, Buckinghamshire Building Society, Consumer Code For New homes, lender approval, protek structural warranty, protek warranty, self build mortgage

 

 

Lloyds Banking Group has declared Protek Warranty as acceptable for its lending purposes, and added Protek Warranty into its Council of Mortgage Lenders’ (CML) handbook, entry part 2, item 6.7.1. The CML handbook provides comprehensive instructions for conveyancers acting on behalf of lenders in residential conveyancing transactions.

Protek, a trading style of Lucas Fettes Limited, provides structural warranties to the UK house building, construction and self build sectors.

“We are delighted that Lloyds Banking Group has added Protek Warranty to their CML entry. Protek is a Consumer Code for New Homes member for its new home warranty product, and this has been very beneficial in us gaining lender approval from Lloyds Banking Group,” said Simon Middleton, who heads up the Protek team.

“Insuring your next development project with Protek means you’ll be getting the cover you require, a high level of service, and a price that represents excellent value for money”, Simon continued.

The Consumer Code for New Homes was established to ensure that best practice is followed in respect of the marketing, selling and purchasing of new homes, and to set expected standards for after sales customer care service. Protek is a Consumer Code for New Homes member for its new home warranty product, which is specifically designed for builders and developers, providing homeowners with class leading new home warranty cover. It includes developer insolvency protection.

 

 

Notes to Editors

Protek Warranty is Lucas Fettes & Partners’ structural warranty operation and specialises in 10 year building guarantees or latent defects insurance. Protek’s structural warranty product range is backed by an ‘A’ rated insurer, and has been designed for builders and developers of residential, regeneration and commercial properties

Lucas Fettes & Partners is a national, independently owned insurance and financial services group. The company employs over 200 staff and has a nationwide network of nine offices, catering to both commercial and personal clients.

Contact

Simon.middleton@protekwarranty.co.uk

0845 217 7059

New legislation in the form of The Self Build and Custom Housebuilding Register Regulations 2016 has been enacted today which means that local authorities must establish and maintain a register of would be self builders and custom builders seeking (either alone or with others) to acquire a serviced plot of land in the relevant authority’s area to build and occupy a house as that individual’s sole or main residence.

The new legislation has designed to help councils assess demand for self build and custom build housebuilding which forms an important element of each authorities assessment of housing need as detailed in the Governments Planning Practice Guidance Methodology: Assessing Housing Need.