Submitting your sales data
NHBC and Consumer Duty
As well as having a responsibility to protect homeowners, as an Insurance provider, NHBC are regulated by the FCA and so have to comply with Consumer Duty regulations.
Part of this regulation is designed to ensure that consumers of any insurance product are provided with information about the features, advantages, benefits and key exclusions in good time and before they enter into a contract.
Why is Consumer Duty important?
As a regulated insurer, we have an obligation to ensure that new home buyers receive the details of their warranty and insurance policy before exchange of contracts/missives. This is because our deposit protection insurance (section 1 of Buildmark) starts from exchange of contracts/missives.
To fulfil the requirements of Consumer Duty, we need house builders/developers to help us comply with the regulations by ensuring that the details of prospective policyholders are sent to us as soon as possible after reservation.
Further information on NHBC's Buildmark policy and homebuyer information process can be found here.
What do we need?
Purchaser’s details
Name, correspondence address and email address for them and their conveyancer.
Plot address
The property you are selling address details.
Dates
Exchange and completion dates.
When is it needed?
As soon as possible after the plot has been reserved. Once received, we will use this information to send a personalised summary of the Buildmark policy information to the purchaser.
We will also need an update if there has been a change to the exchange or completion dates or if the sale does not proceed.
How to provide data
Submitting information using the My NHBC Portal is the quickest and easiest way for you to provide us with prospective policyholder data. Registration is quick and there is no limit to the number of users, so sales staff or estate agents can be added to manage this process if required.
Other methods available
For higher volumes, data can be submitted by file using a standard template. For more information contact:
Customer Services
homeownerdata@nhbc.co.uk or call 0344 6331000 and ask for the Homeowner data team.