Missing Title Deeds – Expert Advice from Solicitor Partner Damian Woods – Jacob Law LLP | Irish Independent Article
Homebond
HomeBond is a structural warranty and insurance scheme for newly built homes in Ireland. It is designed to protect homebuyers if there are major issues with the structure of their property. HomeBond is typically arranged by the builder or developer and provides peace of mind that the property is built to certain standards.
HomeBond provides cover for major structural defects that might occur within ten years of the home being built. It also includes protection if the builder goes out of business before the home is completed or if problems arise due to workmanship or materials. The main areas covered include foundations, load-bearing walls, and roofing structures.
HomeBond does not cover cosmetic or minor defects such as cracked plaster, paint peeling, or normal wear and tear. It also has time limits — for example, issues must typically be reported within a set period. During the first two years, the builder is responsible for rectifying most problems; thereafter, structural issues may be covered under the HomeBond insurance.
There are two types of HomeBond certificates:
To make a claim, you typically need to:
Buying a property without HomeBond can expose you to significant risks. You won’t have insurance protection for major structural defects, and if the builder becomes insolvent, you may have no recourse. Many lenders require HomeBond or similar cover as a condition of providing a mortgage.
HomeBond gives buyers reassurance that their home has been built to required standards and that they are protected if serious structural problems arise. It helps ensure compliance, supports mortgage approval, and increases resale value.
SHARE THIS ARTICLE:
Latest News & Articles
