Is there a warranty on New Build Homes?
Posted on 9th August 2019
MG Legal, Preston and Lancaster’s local property solicitors, have noted lots of new build developments cropping up along the A6, through into Longridge, Lancaster and the like to be fair though they are hard to miss! Local websites and forums have either dismissed or applauded the developments, and our team of property lawyers are staying firmly on the (garden?) fence. We can however, advise all buyers and prospective buyers alike of the benefits of New Build Home Warranties.
NHBC are one of the leading suppliers offering protection for homebuyers when they purchase a new build property in the form of Buildmark warranty and insurance. It is NHBC who are reporting that 2019 has seen the highest number of new build home registrations in the past twelve years!
In total 43,438 new homes were registered between April and June 2019, up 12% on the same period last year when it was 38,937 and the highest since the fourth quarter of 2007 when 43,525 were registered.
‘It is great to see this sign of confidence in new build housing and that the positive start to the year has continued into the summer. The combination of the growing private rental sector and on-going investment into the UK market is helping to boost new home registrations,’ said NHBC chief executive Steve Wood.
A breakdown of the figures shows that an upturn in London continues with 6,000 registrations over the quarter, more than double what was registered a year ago. Overall eight out 12 regions recorded an annual increase. Numbers were up 47% in the North West and up 17% in Scotland. Overall, the private sector increased by 14% at 29,993 compared to 26,422 in 2018, and the affordable and rental sector rose by 7% to 13,445 compared to 12,515 in 2018.
So, if you’re contemplating whether to follow the trend, call in to see our friendly conveyancing team who specialise in meeting deadlines and purchasing new build developments.
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Tagged as: Buyers, Conveyancing Solicitors Preston, Longridge Solicitors, Property Solicitors Preston, Solicitors Lancaster, Your Local Solicitors
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