The client — which was introduced to J3 by MPC Estates — approached the advisory firm to get a second opinion, as the insurance provider they initially consulted with made several big requests, including the need for an additional sum to be held in escrow.
J3 Advisory’s head of business development Daisy Neall (pictured above) presented the project and its associated risks to the firm’s A-rated panel of insurers and quickly obtained several alternative terms from the market.
Daisy was able to remove the need for an escrow and secured an alternative quote that offered a 35% saving on the building warranty insurance.
The quick turnaround enabled Grange Country Homes to proceed with building its latest £4m GDV scheme, comprising nine two- and four-bedroom homes.
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“Price shouldn’t be the be all and end all when arranging warranty, but it is really pleasing to be able to save a developer a significant sum while still ensuring the project is protected,” said Daisy.
“When we work on a bespoke development like this, it’s important that we approach our A-rated insurers who have suitable appetite and experience.
“It was great to be able to provide the client with a ten-year policy that is fully compliant with UK Finance and gives full access to the lending market.
“I look forward to seeing this scheme take shape and working with Grange Country Homes on future projects.”
Stephen Kelly from Grange Country Homes added: “We really appreciate the advice that J3 has provided.
“Our first experience using the firm has been really positive, and Daisy’s expertise was invaluable in finding us the ideal protection at the best price-point.
“We’re grateful for the advice and look forward to working with them in the future.”