Advantage is a national company that specialises in providing structural defects insurance covering a wide range of developments, from a single self-build house, conversion or renovation scheme right through to major residential and commercial projects with a build cost of up £50m
Structural defects insurance is required by the majority of UK mortgage lenders before lending on any property under 10 years old. Advantage also offers 12-year cover on request for housing associations.
The policies are designed for any individual or organisation constructing a new property and protect them from any rebuild costs arising from defective design, workmanship or damage to materials that occurred during construction but is not discovered until after completion.
Policies include everything from professional fees, demolition costs, remedial work to alternative accommodation, dealing with land contamination and rectifying major damage.
This ebook contains case studies highlighting the breadth of Advantage’s services across three very different projects.
The first is Pembroke Studios, a high-spec student accommodation development in central Liverpool by regeneration company YPG Developments.
Advantage was the warranty provider for this 94-unit, six-storey building and its user-friendly, proactive approach helped it win further work with YPG.
Another scheme supported by Advantage was Caro Developments’ Caro Parker Street Apartments, a sympathetic refurbishment of a building in Liverpool city centre into student accommodation, apartments and short-stay hotel apartments.
Advantage worked closely with Caro on the scheme, with frequent communication and consultations between the technical team and contractors helping to accelerating the project to meet its various deadlines.
Finally, the ebook looks at Advantage’s successful relationship with Barry Woods, a developer and builder with over 30 years’ experience who has worked on sites ranging from £500,000 to £10m.
Advantage has provided structural defects insurance on several of these projects, some of which are ongoing.
The firm offers builders and developers like Barry site visits at short notice and a single point of contact from design stage through to completion.
Taking this approach guarantees continuity and consistency in dealing with the challenges that projects face.