This Practice Note deals with the principal types of policy or guarantee, other than latent defects insurance, that are currently on the market to protect homeowners and developers against latent defects. This note primarily focuses on the cover provided by NHBC, Premier Guarantee and LABC Warranty who were responsible for the introduction of the Consumer Code for Homebuilders (the Code) which came into force on 1 April 2010. The Code contains standards of good practice, procedures and information with which registered home builders are obliged to comply.
The National House Building Council (NHBC) is an independent, non-profit distributing company set up by the Government in 1965 for the purpose of providing warranties and standards for the construction of new and newly converted homes in the UK. The NHBC claims to have around 5% of the new homes in the UK registered with them.
The NHBC is authorised and regulated by the Financial Services Authority. The NHBC is governed by a council with representatives from organisations or groups who have an interest in raising standards in UK house building. They include mortgage lenders, law societies, consumer groups, architects, surveyors and house builders.
NHBC has two subsidiary companies, each with its own board:
NHBC Building Control Services Limited, established to manage the Approved Inspector licence for the purposes of undertaking building control
NHBC Services Limited, established to manage NHBC's non-insurance services - primarily training, health and safety, and sustainability services
The NHBC standards are definitive standards for house construction and conversio
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