Yes. From April 1 2003 lenders will not release the mortgage funds for a new property until the buyer&amp;’s conveyancers receive confirmation in the form of a cover note that the property has received a satisfactory final inspection, and that a full new home warranty will be in place on or before legal completion. <p></p><p> It is envisaged that immediately after a property has passed final inspection the warranty provider will give a cover note to the builder. A builder or a builder&amp;’s conveyancer will then pass the cover note to the buyer&amp;’s conveyancer. </p><p> This will apply to all new properties being built or converted in accordance with a new home warranty scheme and with exchange of contracts on or after April 1 2003. This will not apply to self-build schemes where the construction or conversion of a property is being supervised by a professional consultant without a new home warranty scheme. You should therefore bear in mind when calculating the legal completion date in any contract that:</p><p> l the conveyancer will be unable to submit the certificate of title to the lender to allow mortgage finds to be released until the conveyancer has received the cover note; and …