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14/11/2011

With the Council of Mortgage Lenders reporting the number of Buy to Let loans advanced up 16% in Q3 2011, this provides advisors with a great opportunity to arrange the clients property owners insurance.

Quarter 3 2011 saw 34,500 buy to let loans advanced, the highest quarterly number since 2008. Yet how many advisors/brokers arranged the buildings insurance cover on these properties?

Mark Hutchings, Sales and Marketing Director, of insurance specialist Berkeley Alexander commented: ‘This quarterly number alone could equate to nearly £17m of insurance premium and around £2.5m of commission available to advisors but how many are looking to arrange the cover’

Hutchings also commented ‘there are plenty of providers within the mortgage broker/IFA market offering access to landlords/property owners insurance for both residential and commercial properties. The opportunity is there for advisors to also arrange the insurance cover’

To provide brokers with access to a wide range of insurance providers, Berkeley Alexander is providing brokers with access to its BA Power system which will quote from a wide range of landlords insurance products from insurers such as  LV, Ageas, Zurich, NIG, RSA and more, allowing mortgage brokers & IFA’s to compete on a level playing field for the first time with high street insurance intermediaries.

Carole Langton of Keith Williams Financial said ‘With access to the new BA Power system I am now able to provide my client with a range of quotes for both single and block cover on their buy to let properties, negating the need to check various markets, whether it is a residential house, or a commercial property such as a block of flats or office block. It’s a great addition to the services that Berkeley Alexander provide’

Notes to the editor

Trading for over 30 years, Berkeley Alexander are a General Insurance Distributor, providing services to both Directly Authorised and Appointed Representative advisers throughout the UK. Their principal product areas include Household, ASU/MPPI, and Commercial insurance, and offer a range of products within each product type rather than offering single insurer products.

Berkeley Alexander is part of Cullum Capital Ventures (CCV), one of the UK’s top fie largest independently owned insurance intermediaries with more than 700 staff. Headquartered in Maidstone, it offers a wide range of general insurance products nationwide.

Press queries should be directed to Geoff Hall, Managing Director, on 01273 477784 or 07884 265911

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