Latent Defects Insurance (LDI) is changing the game in building and construction. Think of it as a safety net for your newly built home, protecting you from unexpected problems with the building’s structure or outer layer that weren’t spotted when the building was finished. It’s your go-to protection: if something goes wrong because of mistakes in the design, materials, or how the building was put together, you can ask the insurance company to cover the repair costs.
LDI is valid for 10 years and is specifically available for those buying homes in new developments. It’s there to fix major issues that can arise from poor design, the wrong materials, or bad workmanship.
The insurance starts from when you get your Occupancy Certificate and lasts for a full decade, making it the longest-lasting protection against hidden defects in Australia. Developers or builders get this insurance before they even start building, ensuring that your home is built to the highest standards. For future homeowners, it means you can relax, knowing you have 10 years of solid protection.
Well, not exactly.
Due to the timing release of scheme, not all buildings may be covered. That means the property you’re looking to purchase might not be covered by LDI.
That’s where LDI Ready comes in. We help you by finding out if your the property you have purchased, or intend to purchase is covered.
LDI Ready is a division of Property Association. For 20 years, we’ve specialised in matching Sydney’s new apartment buyers, with their perfect property, offering independent advice, and expertise attuned to their needs, ensuring confidence and trust in their property investments. You can visit us at propertyassociation.com.au
With over 20 years of experience working in Sydney's new property sales, our expertise is unmatched. Our understanding of the local market trends, regulations, and challenges has given us a wealth of knowledge and makes us a trusted authority, capable of navigating the complexities of LDI with ease.
Our service stands out for its accuracy in verifying if apartment buildings have LDI (Latent Defects Insurance), thanks to our meticulous process of manually checking and confirming with developers. This hands-on approach ensures that our information is not only current but also reliable.
As an independent entity, we pride ourselves on our objectivity and dedication to the interests of buyers. Unlike developers or insurance companies, our primary goal is to provide unbiased and truthful information.