The purchase, development and sale of land and property can be a complex and costly business and one in which the services of a professional trusted adviser is crucial.
Whether you are looking to buy or sell land, develop property or invest in a private rental portfolio, we have a team of specialists who have been selected from across our business for their experience in the sector and who are ready to help you with all aspects of your financial and business affairs.
Our land and property team includes tax, accountancy, insurance and financial planning professionals who have extensive expertise and knowledge of trends in this sector. We have individual specialists in challenging areas such as Stamp Duty Land Tax, property insurance and financial planning. Our clients include private individuals, trustees of land and estates, institutions, charities and public organisations.
With the significant rise in land and property values over recent years, property taxes have become an increasingly important source of revenue for the Government. The rise of buy to let landlords and foreign property ownership has also driven a number of politically motivated tax changes. This has resulted in a raft of complex tax legislation and rules specifically focussed on property.
Our team of advisors can support and help you through this raft of tax legislation when undertaking a property transaction whether this be a property acquisition, a sale of property, entering into a lease or undertaking property development activities. The range of taxes which we regularly advise upon include:-
Our team of experienced chartered and independent financial planners have a wealth of experience in advising property owners and developers, from individual investors to large property developers on all issues of their business and finances including:
Whether you have a portfolio of one, or you own multiple properties, Commercial Property Owners insurance provides you with cover against the risks and liabilities of renting out your commercial property.
From buildings cover to fire and damage, the implications of a disaster don’t just impact you as the property owner, but could bring liabilities if your tenants are affected. Property Owners insurance can help you with the loss of income where your property is unfit for habitation and could help to cover the costs of finding another location for your tenants, as well as your loss of rental income. Whether your rental property is furnished, or partly furnished with carpets for example, you will need to consider how you would cover the costs of repair or replacement, which is where a Property Owners policy could help.
If you own commercial property as a freeholder, leaseholder or management company, you should consider how you would mitigate your losses in the event of something happening to a property for which you are responsible. You can discuss your Property Owners insurance with our business team who are here to offer advice to help you protect your interests.
As the landlord of a buy-to-let property it is critical that you have the right insurance in place; a standard home policy is not adequate. Your tenants will need to arrange for their own contents insurance, but as the property owner you must have landlord insurance cover. If your property sustains damage through circumstances such as fire, flood, burst pipes or subsidence then you as the landlord are likely to have to pay the bill.
You will also need specific insurance cover if you are leasing a business or commercial property.
Our insurance advisers can explain the different insurance covers that are available to you and can help you decide which one is appropriate for you.
These can include:
• Buildings cover – this covers the structure and fabric of the property and includes walls, doors, gates, drives, paths and outbuildings
• Contents cover – if you are letting a property as furnished or part furnished, you will need to ensure you have cover for items such as carpets, curtains, and white goods such as washing machines. Contents cover does not cover property belonging to the tenant
• Loss of rent cover – if your rental property is damaged or uninhabitable through ‘insured peril’ such as fire or flood. You should consider this cover if your property is damaged or uninhabitable through 'insured peril' such as fire or flood, to meet any shortfall if the property cannot be rented out whilst repairs are being undertaken
• Property owners’ liability for compensation and third party legal expenses – a flexible option which is usually up to £2,000,000 with the option to extend to £10,000,000
• Legal advice – access to a 24 hour legal helpline for advice when you need it
Different policies will offer varying degrees of protection, with optional added coverage depending on the type of property you own.
Optional extras can comprise:
• Accidental damage cover – to cover repairs to structure, fixtures and fittings
• Loss of rental income – if your tenants miss payments
• Specific leaseholders – such as professionals, students, local authority tenants
• Subsidence – ground heave and landslip cover
• Terrorism cover – particularly if your property is located in or near a city centre
Multiple property ownership can bring additional complexities, and it can be difficult to arrange insurance for each property. Our insurance professionals can source specialist coverage for property portfolios such as:
• Single policy with one renewal date
• Cover for properties in between tenants and unoccupied properties
• Flexibility to add or remove properties within your portfolio
We regularly work on projects with other property professionals such as surveyors and law firms, and enjoy taking a collaborative based approach.
If you require property / household insuance for yourself visit our private client page to find out how we can help you.