Santander has become the first bank to add The Q Policy to the acceptable warranty schemes listed in Part 2 of its CML Handbook.
The Q Policy is no ordinary scheme, it serves as a modern alternative to the traditional 10-year warranty, providing new-build property insurance for latent defects.
Despite the shift in structure, quality assurance remains central to the policy. Before issuing coverage, the company guarantees developers and builders a minimum of eight site visits throughout the construction phase.
Key Features for Residential Properties
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Lifetime Property Cover: Complete peace of mind through a comprehensive insurance product.
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Direct Point of Contact: A 6-month developer liability period paired with a single point of recovery—policyholders deal with Q directly from Day One.
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Rigorous Quality Control: Minimum of 8 plot inspections, plus an available snagging service.
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Financial Protection: Loss of deposit cover is available.
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Inclusive Expense Coverage: Standard cover automatically includes loss of rent or alternative accommodation (including pets), additional costs, debris removal, storage, and professional fees.
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Flexible Scope: Structural extensions and modifications can be incorporated into the policy.
While Santander is the first to update its Part 2s to accept The Q Policy, other lenders are expected to follow suit. You can track lender updates and policy changes in real time via LENDERmonitor. For those needing to access to the historically acceptable warranty schemes you can use the Santander Lender Handbook Archive.
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