The Signature Homes Comprehensive Guarantee Programme

Building guarantees: it pays to take a closer look

Testimonials (View All)

In the unlikely event that you will need to call on your Home Completion Guarantee, it is reassuring to know that it will work exactly as intended. When our Dunedin franchise (Murwil Construction Ltd) was unable to complete its clients' homes, Signature Homes Guarantees Ltd, the entity that provides the Guarantee, took over all unfinished homes and completed them as per the original building agreements that the clients entered into with Murwil, at no additional cost to any of the clients. This is what clients had to say about Signature Homes Guarantees Ltd.

We are both very pleased with the end result of the chalet build - it has turned out to be... [more]
Annie Laylee
"After living in the chalet for much of the time from early January to late April I am very happy... [more]
Bruce Graham
"Further to your email I have to say how impressed I am with the high standard of workmanship attained by... [more]
Dick Georgeson
"Although the building process has proven difficult I feel that I have a lovely home - something I'll enjoy for... [more]
Loraine Allpress
"Thanks for the follow-up. I was there in March for 3 weeks and everything seemed fine after the proper countertop... [more]
Scott Finkboner
"On a more general note, I am happy with the final outcome despite the problems with Murwil and certainly have... [more]
Jerry O'Neil
"We are both very pleased with the end result of the chalet build - it has turned out to be... [more]
Annie Laylee

Deciding which building guarantee will provide you with the best protection can be a difficult task, especially for those that are somewhat unfamiliar with the residential building industry. However, it really does pay to have a closer look and see what is on offer. In the event that something does go wrong, the extra time spent ensuring you are well protected could be well worth the effort.

For many years, the Master Build Guarantee was the benchmark for building guarantees in New Zealand. Essentially, every member of the organisation is obliged to provide the guarantee; the payment for the guarantee (by the builders' client) provides a type of insurance cover, should problems arise with the materials and/or workmanship in the home, or with the financial standing of the builder, which may lead to work stopping on a home or client payments to the builder going astray. It is compulsory for every member of the Master Builders to offer the guarantee to their clients if they wish to remain a member.

However, in the view of Signature Homes, the MasterBuild Guarantee is limited in what it can offer, primarily because of the difficulties in providing cover for the clients of hundreds of independent builders of varying skill, experience and commitment.

Signature Homes feel that we should be able to offer our clients greater protection than the MasterBuild Guarantee offers simply because we are a closely-managed and controlled network of builders, all sharing common interests and goals, which are strongly geared towards the protection and enhancement of the Signature Homes brand and its reputation.

Click to view/download a guarantee checklist (PDF), designed to help you establish the strengths and weaknesses of the various guarantees on the market.

Consequently, in 2007 the Signature Homes Network began to look at options that would give our clients better protection, and also provide a competitive advantage in the marketplace through being able to offer a superior guarantee programme.

It was decided that the best way to do this was for each member of the Signature Homes Network to provide a bond to an independent company which would be set up solely for the purposes of managing the guarantee programme. This company would have no ties to the Franchise Builders themselves, and the bond could only be returned to the Franchise Builder should they sell their franchise or leave the network.

The funds in the bond (which are held securely by the National Bank of New Zealand) cannot be used for any other purpose other than for settling claims in the unlikely event of a Signature Homes Franchise Partner being unable to fullfil their contractual obligations for any reason. As every member of the Signature Network has a stake in the bond, this puts responsibility back on the organisation to self-monitor and take responsibility for the performance of its own members.

Before the guarantee could be launched, much planning was necessary, ensuring the Guarantee was as powerful as it could possibly be. The Signature Homes Home Completion Guarantee (along with the other 7 guarantees that make up the Comprehensive Guarantee Programme) was eventually launched to the New Zealand market in 2008. Shortly afterwards, Signature Homes were forced to leave the Master Builders Federation due to the fact that Master Builders were not prepared to allow us to provide our clients our new guarantee instead of the Master Build Guarantee.

Recently, Master Builders announced plans to launch a new, improved guarantee. In reality, the guarantee has changed very little, is significantly more expensive and provides less protection than the Signature Homes Comprehensive Guarantee Programme. It falls short in the following areas: Loss of deposit, Non-Completion, Non-Structural defects, Structural defects and Weathertightness.

Click here to order a free brochure about The Signature Homes Comprehensive Guarantee Programme

Building guarantees: it pays to take a closer look

Testimonials (View All)

Annie Laylee

Bruce Graham

Dick Georgeson

Loraine Allpress

Scott Finkboner

Jerry O'Neil

Annie Laylee