The CML, now known as UK Finance (Council for Mortgage Lenders) have recently updated their list of building societies and banks that accept our certificate. There are now in excess of 100 building societies and banks that accept the Professional Consultants Certificate.
The HSBC bank do not usually accept a Professional Consultants Certificate (PCC), however they will now lend against converted properties without the need for a full warranty.
This provides considerable savings for the developer inasmuch a large house converted into flats can be done on a PCC (for peace of mind for the developer and client) without the need for a full warranty…. this is the actual wording below:
‘… for Converted Properties we will proceed providing confirmation is received that the property is subject to full building regulations, planning permissions and completion certificate.
CARE for Conversions where FULL STRUCTURAL alterations have occurred then a New Home Warranty scheme should be in place as detailed in Section 2 6.7.1′
You can also check out this link.
Do you know that we offer an upgrade service on Professional Consultants Certificates?
Consider this scenario: You are the builder/developer of a residential site of, say, 10 units. Nine of your prospective purchasers are perfectly happy with the Architects Certificate system and then client number ten asks for a full repairing warranty. This can also happen when the client is purchasing using the governments’ new ‘Help to Buy’ scheme. When these situations arise we can now upgrade your certificate to a full ten year warranty providing Professional Consultants Certificate Ltd or one of its registered surveyors have completed their monitoring of your project.
There is a cost implication, but usually you can add the extra to the sale price, ask the client to pay or perhaps stand the cost as goodwill to your purchaser. The important thing is not lose that precious sale.
This is GOOD NEWS for all developers and builders.
Ask for details.