With banks unwilling to release mortgages for new homes without a structural warranty, Premier Guarantee tapped into a big market when it won a licence to offer such warranties. Its customers now include Wimpey and Britannia Homes and it claims to be one of the main challengers to NHBC, which controls 80% of the market. Launched in 1997 by Gary Devaney, Premier Guarantee has expanded in Ireland, which is experiencing a building boom, and has grown sales 179% a year, from £333,000 in 2001 to £7.2m in 2004.
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