Our core areas of expertise within the brokerage service includes latent defects insurance, performance bonds, insurance backed guarantees, developer insolvency, and loss of deposit cover for the UK property market. Our debt advisory arm, London Belgravia Specialist Finance, is recognised in the market for it’s in-depth knowledge of structuring both short and long-term commercial solutions.
This array of expertise is spread across all aspects of prime and super prime residential projects, commercial developments, conversion, and refurbishment projects. Our ability to transcend both the insurance and finance markets enable our clients to benefit from independent and connected advice in what have become two very crowded and potentially overbearing market.
Latent defects insurance is required by the Council of Mortgage Lenders for all new build and residential conversion projects. Latent defect insurance provides cover for damage as a result of defective design, workmanship or materials, not discovered before the cover commences and after practical completion.
Performance bonds are commonly used to protect the developers interest on a project. The bond guarantees that the value of work will not be lost in the event of contractor insolvency.
An Insurance Backed Guarantee (IBG) is an gurantee offered by an insurer that will honour the terms of a warranty that was issued by the contractor. This offers peace of mind to all parties that if there are any defective works or the contractor ceases to trade, the insurer will honor any valid claims.
This type of surety allows a developer to release and utilise any deposits for units purchased off plan whilst providing assurance to the purchaser that their deposit is safe. While this can sometimes be provided by the warranty provider, they only cover up to £100,000 per unit or £2m per developer. Hence, most prime or large scale residential developments are under insured when it comes to loss of deposit.
Whether you are looking for finance on your next project or expanding your property portfolio with your next acquisition, your debt structuring strategy holds the key to realising your returns. Our established relationships with the leading funders ensures our clients always benefit from the most flexible terms and competitive pricing.
Our boutique mortgage service ensures that each mortgage is matched to individual goals and circumstances. We have a broad network of relationships across the lending market that enables us to deliver the most appropriate terms whether our clients are purchasing new assets, restructuring their portfolio or releasing equity.
London Belgravia helped a leading professional developer source 100% Finance for their upcoming project despite an incredibly complicated set of circumstances. Director, James Mole commented
A recent article published by Construction Enquirer has highlighted concerns raised by developers wherein specialist insurers are “shying away from providing bonds to any but
It has become increasingly common that Housing Associations (HAs) and Local Authorities (LAs) require Performance Bonds and other related bonds from their chosen Contractors. Unless
London
23 Austin Friars
London
EC2N 2QP
Email: info@lbb.london
Telephone: 0203 701 0422
Manchester
Hanover House
30-32 Charlotte Street
Manchester, M1 4EX
Email: info@lbb.london
Telephone: 0203 701 0422
