J3 Advisory assisted SME developer Grange Country Homes in making £15,000 in savings on building warranty insurance through expert advice
Building warranty and latent defects insurance specialists, J3 Advisory has helped a developer make savings on building warranty insurance of £15,000, by swiftly securing alternative terms.
Grange Country Homes (GCH) instructed J3 Advisory when one of the leading insurance providers in the market made several arduous requests, including the need for an additional £18,000 to be held in escrow. GCH were reluctant to proceed without fully exploring their options.
J3 Advisory responded swiftly to secure the savings in building warranty insurance
J3 Advisory’s head of business development, Daisy Neall presented the project and its associated risks to J3s A-rated panel of insurers and quickly secured several alternative terms from the market. Thanks to J3’s relationships with insurance providers, 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.
She explained: “Price shouldn’t be the be-all and end-all when arranging a warranty, but it is really pleasing to be able to save a developer a significant sum while still ensuring the project is protected. When we work on a bespoke development like this, it’s important that we approach our A-rated insurers who have a suitable appetite and experience. It was therefore pleasing to be able to provide the client with a ten-year policy that is fully compliant with UK Finance & 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.”
The development was able to reach completion without issue
The new build project has an anticipated gross development value of £4m and the quick turnaround enabled Grange Country Homes to proceed with building its nine stylish and contemporary two and four-bedroom homes as planned.
Stephen Kelly from Grange Country Homes added, “We really appreciate the advice that J3 has provided. Our first experience using J3 has been really positive, Daisy’s expertise was invaluable in finding us the ideal new build warranty protection at the best price point. We’re grateful for the advice and look forward to working with them in the future.”
