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New house: Structural Insurance Cover cert not available

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  • 19-12-2013 12:30pm
    #1
    Meteor67
    Registered Users Posts: 76 ✭✭


    Hi All,

    I am in the process of buying a new (more or less) house which supposed to have a structural insurance. Unfortunately the sale is already delayed for several month only because the seller is not showing the insurance certificate. Should I start to worry? Is it unusual to request the cert?

    Thanks for any advice and opinion.

    Cheers

    Meteor67


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    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    what exactly do you mean structural insurance ?

    All house insurance policies cover the structure. Weather they have this or not is irrelevant to the house sale.

    am I missing something here ?


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    #3
    Meteor67
    Registered Users Posts: 76 ✭✭Meteor67


    OK, I should have been more clear about this.
    It's the insurance like Homebond.


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    #4
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    well homebond isn't worth the paper its written on tbh so I wouldn't be overly concerned or worried.


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    #5
    Meteor67
    Registered Users Posts: 76 ✭✭Meteor67


    Interesting. Please explain.


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    #6
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    well just look at the Pirite problems in the country. Those that Homebond finally paid out on were only partial payments and didn't go near covering the amount needed for remedial works.

    the Homebond scheme is heavily under funded and just really isn't fit for purpose tbh


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    #7
    Meteor67
    Registered Users Posts: 76 ✭✭Meteor67


    Well, I understand that getting a claim accepted is not easy, but take your example pyrite:
    If the builder/developer has a problem getting a structural insurance like Homebond, is this itself than not a reason to worry as these insurance companies refuse to cover a house/estate where there is any doubt of an issue with pyrite?


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    #8
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    Hi Meteor67,
    If the property is being built by a builder it is usually covered by homebond which gives a 10 year structural guarantee. The builder would apply for this and then supply it to your Solicitor. If a homebond is not available well then the construction should have been supervised by a qualified Architect or Engineer who must have Professional Indemnity Insurance and will issue a certificate of compliance on completion...again evidence must be supplied to your Solicitor and this should be written into the contract.
    If you are applying for a mortgage the property would have to be covered by one or the other and would also be required if you were selling in the future.

    Meteor67 wrote: »
    Hi All,

    I am in the process of buying a new (more or less) house which supposed to have a structural insurance. Unfortunately the sale is already delayed for several month only because the seller is not showing the insurance certificate. Should I start to worry? Is it unusual to request the cert?

    Thanks for any advice and opinion.

    Cheers

    Meteor67


  • Options
    #9
    Ray Palmer
    Registered Users Posts: 8,367 ✭✭✭Ray Palmer


    D3PO wrote: »
    well just look at the Pirite problems in the country. Those that Homebond finally paid out on were only partial payments and didn't go near covering the amount needed for remedial works.

    the Homebond scheme is heavily under funded and just really isn't fit for purpose tbh
    I think that is a pretty unreasonable stance and view. The pyrite costs should have been covered by the suppliers of the material not the builders. The builders didn't really do anything wrong in most cases

    Homebond can work of fixing issues with construction. The issue is much more complex than you are suggesting


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    #10
    Meteor67
    Registered Users Posts: 76 ✭✭Meteor67


    Hi Trish56,
    That's exactly the point. The builder/developer said they have 10 year cover for the house and so does the contract given to our solicitor. In this contract is referred several times to the insurance cert, hence we want to see it. And on this we are waiting already since several month. I understand there are some complications which would explain some of the delay but it is going on for so long now that we start to think of possible reasons for this delay.

    Trish56 wrote: »
    Hi Meteor67,
    If the property is being built by a builder it is usually covered by homebond which gives a 10 year structural guarantee. The builder would apply for this and then supply it to your Solicitor. If a homebond is not available well then the construction should have been supervised by a qualified Architect or Engineer who must have Professional Indemnity Insurance and will issue a certificate of compliance on completion...again evidence must be supplied to your Solicitor and this should be written into the contract.
    If you are applying for a mortgage the property would have to be covered by one or the other and would also be required if you were selling in the future.


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    #11
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    It should be simple enough to provide....if they applied for it they would have got a certificate, if they have lost or mislaid it surely they can get a copy. Can you contact www.homebond.ie and ask them to confirm if in fact the property is covered.

    Meteor67 wrote: »
    Hi Trish56,
    That's exactly the point. The builder/developer said they have 10 year cover for the house and so does the contract given to our solicitor. In this contract is referred several times to the insurance cert, hence we want to see it. And on this we are waiting already since several month. I understand there are some complications which would explain some of the delay but it is going on for so long now that we start to think of possible reasons for this delay.


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    #12
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Ray Palmer wrote: »
    I think that is a pretty unreasonable stance and view. The pyrite costs should have been covered by the suppliers of the material not the builders. The builders didn't really do anything wrong in most cases

    Homebond can work of fixing issues with construction. The issue is much more complex than you are suggesting

    What has the building doing anything wrong have to do with anything ? The idea of homebond was to pay out to repair structural issues nowhere was there a determination to say it was only to fix problems caused by poor workmanship.

    Don't come on here attacking my view when yours is equally only a view and based on nothing more than your opinion of what should and should not have happened.

    I never said the issue wasn't complex don't try and put words in my mouth but Homebond complexities or not it doesn't work as it was advertised to that's a simple fact. It it did Priory Hall wouldn't be lingering about still .....

    P.S The fact that Homebond paid out some money indicates that my view is infact closer to the truth than yours. If you were right they would not have paid anything.


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    #13
    Victor
    Registered Users Posts: 78,321 ✭✭✭✭Victor


    Ray Palmer wrote: »
    I think that is a pretty unreasonable stance and view. The pyrite costs should have been covered by the suppliers of the material not the builders. The builders didn't really do anything wrong in most cases
    While the purchaser can rely on Donoghue v Stevenson, the problem is the have no contract with the material supplier and may have no access to records of supply of the material. The builder does.
    Homebond can work of fixing issues with construction. The issue is much more complex than you are suggesting
    The problem is it relies on Homebond forcing builders / developers to rectify things. If the builder is bust, then that becomes difficult. It isn't a proper insurance-backed bond.


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    #14
    Ray Palmer
    Registered Users Posts: 8,367 ✭✭✭Ray Palmer


    D3PO wrote: »

    Don't come on here attacking my view when yours is equally only a view and based on nothing more than your opinion of what should and should not have happened.

    That is a really really unreasonable stance and view. :P


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    #15
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    happy Christmas to you to. now can we get back on topic ?


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    #16
    Meteor67
    Registered Users Posts: 76 ✭✭Meteor67


    D3PO wrote: »
    happy Christmas to you to. now can we get back on topic ?

    much obliged :o


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    #17
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,279 Mod ✭✭✭✭The_Conductor


    Behave folks.


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    #18
    kevin455
    Registered Users Posts: 4 ✭kevin455


    can i buy a house in ireland,if i lost a job and taking social welfare payments?


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    #19
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    Yes you can buy a house if you have the cash to buy it. If you looking for a mortgage to buy it well then you need to be in employment to apply for a mortgage.

    kevin455 wrote: »
    can i buy a house in ireland,if i lost a job and taking social welfare payments?


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    #20
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,279 Mod ✭✭✭✭The_Conductor


    If you have a lumpsum, and your social welfare entitles are means based- by using the lumpsum towards a new home, the value of which is not means based, you reduce your means, and could potentially unlock additional social welfare payments. Note- you really need to ask this question in the Social Welfare forum- this forum is not an appropriate venue.


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    #21
    ted1
    Registered Users Posts: 23,400 ✭✭✭✭ted1


    kevin455 wrote: »
    can i buy a house in ireland,if i lost a job and taking social welfare payments?
    Do you have enough cash to pay for it, if so knock yourself out. But welfare us means tested and if you have that amount if cash, should you be getting welfare?


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    #22
    kevin455
    Registered Users Posts: 4 ✭kevin455


    Thanks for all of you who helped me in answering my question.


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    #23
    Meteor67
    Registered Users Posts: 76 ✭✭Meteor67


    First a Happy New Year to all.

    I would like to come back to the structural insurance.

    In my case, for a house in Newcastle, Co. Dublin, the builder is using a different company then Homebond. The insurance company is CRL / GPI from the UK.

    Apart from not understanding what can cause the delay in providing the certificate I also wonder why the builder (or receiver in my case) has chosen this company. Has anybody experience with them?


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