DEVELOPER INSOLVENCY COVER

Structural Warranties

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How it works

 

It is an unfortunate reality that some builders and developers experience financial difficulties that end in insolvency. We can provide cover that will insure against these situations and help complete the project.

What’s Covered?

 

The amount that you paid to the builder under the contract that you cannot recover (such as your deposit).

The extra cost above the original purchase price for work necessary to complete the property to a satisfactory standard (whichever is the lesser amount).

  • Developer Details

  • Company Background

  • Project Details

  • Outstanding Loans

  • Project Financing

  • Accepted file types: doc, docx, pdf, xml, xmlx, csv.
  • Previous Developments:

    Development 1

  • Development 2

  • Development 3

  • Controlling function

    Please give the full name of all proprietors, partners and directors and home addresses.
  • Financial Information

    Please provide two years audited accounts demonstrating three years trading. Should you not be able to meet our financial requirements, a deposit, bank guarantee or cross–company guarantee (see below) may be required. If the business is a Limited Company or a Special Purpose Vehicle Company, please provide details of any holding company.
  • Accepted file types: doc, docx, pdf, xml, xmlx, ods, csv.
  • Insurance Details

    Has any director or partner/principal
  • Summary Information

    Summary information i.e description of the project (new build, renovation); current level of reservations; information on the main contractor.
  • Declaration by the Applicant

    I/we declare that to the best of my/our knowledge and belief, the information I/we have given is correct and complete in every detail and I/we have not withheld any material fact. I/We understand that in assessing this application, London Belgravia Brokers Ltd or the Underwriter may search the files of Credit Reference Agencies who will record any credit searches on my file. I/We hereby consent to London Belgravia Brokers Ltd carrying out these searches, as it deems necessary. I/we understand that the signing of this form does not bind us to effecting insurance but agree that should a quotation for cover be accepted, that this proposal and the statements made therein shall form the basis of the contract between me/us and the Underwriter.

Get in Touch

 

London Belgravia Brokers specialise in niche insurance products for property developers. If you would like to discuss our service please contact Giles Fallan, Managing Director, London Belgravia Brokers Ltd +44 (0)203 701 0420 info@lbb.london or via the contact form at the link provided.

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