View more on these topics

Risk specialists aim to protect landlords from rising insolvency

TL Risk Solutions has launched a product aimed at protecting commercial landlords from rising insolvency.

The risk specialist says with UK consumers now the most indebted in Europe, recent statistics have shown a rise in insolvencies in the first quarter of 2007 of nearly 24% on the same quarter last year.

It says as well as having devastating consequences for those involved, there is the inevitable impact of insolvency on associated businesses, particularly the landlords and managing agents.

TL Risk Solutions is currently working with an insurer to provide cover for exactly this type of risk, should a commercial tenant become insolvent.

Gavin McLaren, business manager for TL Risk Solutions Credit division, says: “This form of cover provides landlord’s with protection against a loss arising from the insolvency of a commercial tenant.

“As well as covering a loss arising from unpaid rent, cover is extended to include up to twelve months loss of rental income whilst the property is vacant.

“In this way it secures a valuable income stream and maintains income whilst a new commercial tenant is sought or a property refurbished.

“With the recent introduction of the Tenancy Deposit Scheme for private landlords we are doing all we can to make sure that our landlord indemnity scheme will cover any issues that may arise should the deposit scheme be extended to commercial properties in the future.

“There are also major benefits to the tenant as there is the potential to replace cash deposits thereby freeing up working capital.”


Mortgage savings increase, says Moneyextra says the savings available by choosing the right mortgage have actually gone up in the last three months despite rising mortgage rates. The annualised savings available on the average mortgage amount have risen from £2,832.00 to £3,132.00, even though interest rates have risen.Robin Amlôt of, says: “Getting your mortgage right is the key […]

Barclays logo could be a no-go for ABN Amro

Barclays’ iconic eagle logo may be ditched due to concerns from ABN Am-ro that the design could be seen to have Nazi connotations. Barclays is embroiled in an acquisition battle for the Dutch bank and has already agreed to move its head office to Amsterdam if the £96bn deal goes ahead. Despite pre-dating the Third […]

Enterprise’s fees promotion goes on

Enterprise has extended its fees-free campaign until the end of July.The promotion is available on all standard remortgages in England and Wales across Enterprise’s 14 panel len-ders, provided sub-prime sourcing system Edge is used to source solutions and checklists.Applicants will receive free valuations as well as free legals, provided by Goldsmith Williams.Jason Badla, director of […]

MBSL adds Money Partners Touch to its lender panel

Mortgage Broking Services has appointed Money Partners Touch to its lender panel.The 100 firms and 150 brokers that make up MBSL’s network will be able to access online tools, including instant decisioning, real-time Automated Valuation Models, free credit searches, pre-populated applications and full Key Facts Illustrations.Direct access to specialist telesales support and dedicated key relationship […]


News and expert analysis straight to your inbox

Sign up