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.
Leveraging our strong relationships and risk management expertise, we successfully obtained an A-rated replacement warranty for the project. The policy included 10 and 12-year terms, full reinstatement coverage, plus a no defects period, meaning the scheme is on cover 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