Why are Architect’s Certificates cheaper?
Why are Architect’s Certificates Cheaper?
An Architect’s Certificate is often cheaper because it is only a document signifying that, on the issuing professionals visual inspection, the work appears to have been built to a satisfactory standard and will be in general compliance with the approved drawings. It is not therefore an insured warranty confirming sufficiency of design or that the building is free from defects.
Architect’s and professional consultants’ certificates are promoted in UK finances‘ handbook. Their purpose is to provide a reliable level of ‘comfort’ to subsequent purchasers of the building and the lender. Recourse under the Architect’s Certificate relies on you or the subsequent owner proving negligence on the issuing professional. Proving negligence can be a costly and time consuming process, which isn’t helpful when you have a major structural issue to repair. This goes some way to explaining why Architect’s Certificates are cheaper.
For this reason, a Professional Consultants’ Certificate (PCC) should not be confused with a lender approved 10 year structural warranty. A structural warranty in this instance is very different and provides cover for inherent defects in the design, workmanship and materials which may not have been apparent on visual inspection.
If the certificate has expired or the professional has retired, died or simply not renewed their professional indemnity run off cover, a property owner can find themselves in a sticky situation. This is why choosing a structural warranty from the outset is so important.
RETROSPECTIVE WARRANTY
Protek’s retrospective warranty is for house builders, property investors, receivers and individuals requiring a retrospective structural warranty insurance solution for a residential or mixed use property that was completed at some point in the last 10 years, but without the benefit of a 10 year warranty. The retrospective warranty provides comprehensive structural warranty insurance cover and is frequently used to replace an Architect’s or Professional Consultants’ Certificate, where the sale of the property has faltered because a lender won’t accept it!
Call us on 0333 456 5040 if you need to arrange a retrospective warranty. An experienced member of the team will be pleased to chat with you.
