Enness was approached by clients who needed specialist advice as overseas nationals and residents. In this case, two business partners wanted to begin a BTL portfolio in the UK via UK SPV. The clients were non-UK nationals/residents and had no footprint in the UK at present. This is a challenge in the insurance market as most providers will provide coverage only to UK-based clients. As the clients were going to be relying on a property management company to run their investment property for them while they continued to reside outside of the UK , we explained the benefits of a landlord's insurance policy to ensure their investment was protected.
We were able to source a provider who was willing to give the cover to the UK SPV, giving the client comfort that they had cover for any unforeseen circumstances. In addition, we also secured international loan protection via their UK SPV. This is particularly difficult if a client is not a UK resident; most insurers will not provide cover—those who can only provide cover for a UK residence.
Enness was able to package and present our client and their circumstances clearly so that the provider was able to offer protection in a way that suited the client’s needs, structure, and jurisdictional requirements, meaning our clients would be able to continue with this policy, most cases, if the decided to move locations or their circumstances changed in the future — a great example of how we can provide international coverage across a range of our services, with an ability to include future-proofed solutions.
Enness does not give general insurance advise or recommendations. Enness Insurance Brokers is a trading style of Vizion Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority under firm reference number 751098
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
