Following Inland Homes’ financial challenges, J3 was approached by Ingenious Real Estate and Administrators of Appletree Farm Cressing Limited, David Hudson and Phil Armstrong of FRP Advisory, to source a replacement building warranty.
The lender recently committed to fund the completion of a partially built site in Essex, under the control of the Administrators, comprising 46 private and 31 affordable homes units, with a GDV of ∼ £20m. In addition to the standard 10-year warranty for private sale, Ingenious also required 12 years cover for the social housing units within the scheme.
J3 Advisory was appointed to advise on and place the replacement structural warranty for the development. From the point of appointment, J3 worked closely with Ingenious Real Estate and FRP Advisory to assess the existing construction status, align the warranty structure with lender requirements and secure suitable cover for both tenures. The resulting solution included tailored warranty periods for the private and affordable homes, providing continuity of protection from practical completion.
”J3's handling of this project highlighted their skill in risk management, proactive engagement, and practical problem-solving. They understood the project's details, addressed our needs as a lender, and used a sensible tailored approach.
Tom BrownManaging Director, Ingenious
The replacement warranty arrangement enabled the project to move forward with confidence, supporting completion and providing reassurance to funders and stakeholders. The scheme demonstrates the value of early, specialist insurance input when navigating replacement warranties on part-constructed residential developments.