It's mostly known that when you buy a new home you receive a 10 year warranty from the NHBC.
However, I would venture that a large number would think that the NHBC is some quasi Government regulator or ombudsman.
In fact, it's a private insurance company which has 80% of the warranty market. And in many ways the NHBC (and developers) seemed happy to encourage this impression. Until this year the NHBC referred to itself on its website as an "independent regulator".
There are also concerns over its true independence. For example, a fifth of the members of the NHBC governing council are also on the board of builders such as Bovis and Barratt.
If you are buying a new home make sure you and your lawyer are aware of the pitfalls and that your contract addresses all eventualities.
The public impression that the NHBC, which has 80pc of the warranty market, is an ombudsman of quality rather than an insurance company is compounded by the marketing of developers such as Taylor Wimpey. “The NHBC was established over 60 years ago and is the independent regulator for the new homes industry,” the firm’s website read until this summer, when the word “regulator” was suddenly dropped.