Lenders will generally only lend on a newly built, converted or renovated property where the property is covered by a warranty scheme or a Professional Consultant's Certificate (PCC). The PCC is for use by professional consultants when designing and/or monitoring the construction or conversion of residential buildings.
The purpose of the PCC is to confirm to the lender or its conveyancer that a professional consultant:
- has visited the property during construction to check its progress, its conformity with drawings approved under building regulations and its conformity with drawings/instructions issued under the building contract;
- will remain liable to the first purchasers and their lender and subsequent purchasers and lenders for the period of 6 years from the date of the certificate;
- has appropriate experience in the design and/or monitoring of the construction and conversion of residential buildings; and
- will keep a certain level of professional indemnity insurance in force to cover their liabilities under the certificate.
For the purpose of the PCC, a professional consultant must belong to one of the professional bodies listed in section 6.7.4 of the UK Finance Mortgage Lenders' Handbook England and Wales and Scotland (for example, fellow or associate of the Royal Institution of Chartered Surveyors) or section 6.6.4 of the the UK Finance Mortgage Lenders' handbook Northern Ireland and Isle of Man.
Lenders' full new build requirements are set out in section 6.7 of the UK Finance Lenders' Handbook England and Wales and Scotland and section 6.6 of the the UK Finance Mortgage Lenders' Handbook Northern Ireland and Isle of Man.
Completing the certificate
The PCC can be downloaded as a pdf document below. Please print out the form and fill in by hand.