£28m
Complex funding restructure
THE CHALLENGE
Bircroft was acting for a client in a complex funding restructure of a two-phased London residential development involving 3 lenders and therefore numbers 3rd party professionals with ever increasing transactions fees. At the last minute, the existing insurance broker’s were not able to comply with the various cross banking insurance requirements, which was threatening to hold up the deal.
THE SOLUTION
Bircroft was able to seamlessly introduce Bircroft Insurance to the borrowers, who were quickly able to find a solution to the insurance problem, which not only prevented further delays but also was able to save the client money on premiums and the cost of additional legal input.
KEY WINS
- Seamless solution to resolve insurance requirements
- Significant savings on premiums and additional legal costs