LETTINGSnews


ScOTTISH NeWS FCC Paragon goes North


Following sustained demand from landlords in Scotland, FCC Paragon (a different organisation from Paragon Landlord Insurance) has recently overcome the inherent legislative differences and is now able to offer its full range of products to landlords and registered letting agents ‘north of the border.’ Since 1996, FCC Paragon has


INSuRANce


Portfolio cover from Paragon


Paragon Landlord Insurance the insurance ‘sister’ of Paragon Mortgages has launched Portfolio Insurance, a new product that is aimed at landlords with five or more properties in their portfolio, enabling them to make cost and time savings by combining their separate insurance policies into one single easy-to-manage ‘all risks’ portfolio policy. The policy provides buildings cover as standard and includes automatic loss of rent, theft and malicious damage cover and landlord’s legal liabilities. Paragon works with a panel of leading insurers to provide a bespoke policy based on a landlord’s individual policy portfolio and the Portfolio Insurance policy is typically


STANDARDS No Letting Go joins Landlord Syndicate


No Letting Go, the inventory management franchise has been invited to join the


Landlord Syndicate, an organisation which brings together reputable and well established companies and organisations that serve residential and commercial


52 MAY 2011 PROPERTYdrum


landlords in the UK. The Landlord Syndicate,


established in 2009, provides landlords with access to a wide range of services. Each business partner must be either invited by or recommended to the syndicate and only one company is able to represent a core service area to ensure a complimentary non-conflicting membership.


Commenting on the


appointment, MD Nick Lyons says, “We are of course thrilled and honoured to have been invited to represent the inventory management sector within the Landlord Syndicate. No Letting Go shares the same founding principles as the Landlord Syndicate, and has always pledged to set the standard in terms of offering a


highly professional, top quality service to landlords and letting agents, whilst at the same time demonstrating honesty and integrity in all its business dealings. We will continue to invest heavily in training and quality control to ensure our brand maintains its reputation for excellence, in line with the expectations of any member of the Landlord Syndicate”.


cheaper than buying single policies as Paragon’s insurance partners offer greater discounts on bulk purchases. Julian Rance, Paragon Landlord


Insurance MD says, “Landlords are time-pressured individuals – juggling several insurance policies at the same time can be both time consuming and costly. “By talking to a landlord and


understanding exactly what their insurance needs are, we can provide a bespoke quotation tailored around their individual portfolio. Paragon Landlord Insurance has cut insurance premiums for many Paragon Mortgages’ customers and we are confident that we can beat landlords’ existing quotes.” www.paragonlandlordinsurance.co.uk


been referencing tenants to reduce landlord risk, but, many landlords are now seeking more robust measures to protect their investments. Making sure that your tenants are reliable is one thing, but against the backdrop of grim economic growth forecasts and record unemployment this isn’t necessarily enough. If tenants are truly unable to pay the rent due to unforeseen circumstances, then a landlord may struggle to keep on top of mortgage payments, and let’s face it, lenders are not necessarily always renowned for their understanding and accommodating natures. Last year, this general level of


uncertainty led Bryn Cole, director of FCC Paragon to create and launch ‘Collect and Pay’ to supplement the already impressive range of products offered by his company. The C+P product is designed as a safety net for private landlords; guaranteeing that they will receive their rent on the day it’s due for the entire term of the tenancy whilst also covering legal and eviction costs up to fifty thousand pounds. Though similar to rental insurance, the key


Bryn Cole, FCC Paragon


difference is that C+P guards against non payment of rent in real time, rather than having to recoup losses retrospectively. Bryn says “We’re delighted to be able to offer our products and services to Scottish landlords. There is no doubt that landlords everywhere could do with some peace of mind at the moment, so we’re especially excited about how our flagship risk management product will be received. The response to ‘Collect and Pay’ in England and Wales has been fantastic so we expect Scotland to be just as positive.” David Graver Property Services in Hampshire has recently taken a number of C+P products to bolster rental income and agreed to provide a landlord’s perspective. Interviewed last week, a company spokesperson said “Income security is the main issue for us. If one of our tenants lost their job [and couldn’t pay the rent] there would be huge financial implications. It [Collect and Pay] puts our minds at rest, knowing that we’ll get our rent every month.” www.FCCParagon.com


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