October 2023: As Buy to Let mortgage rates start to fall and the number of landlords securing limited company buy to let mortgages rise, Purbeck Personal Guarantee Insurance is warning Professional Landlords to keep their eyes wide open over the risks of personal guarantees as a condition of the mortgage. Purbeck’s analysis shows the average Limited Company Buy to Let Mortgage was £948k in 2022. So far in 2023, the average Buy to Let Mortgage has shrunk to £895k based on Purbeck’s data.
Topics: #personalguarantee
Business buy-to-let mortgages provide an excellent opportunity for businesses to invest in commercial property, whether to be let to a third party or to be used as premises to trade from.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Taking out a business loan is no simple matter. There’s a lot of money on the line, which is why it’s important that your assets are properly protected in the event that your business becomes insolvent.
When signing a personal guarantee in support of the business loan, you can choose to protect yourself by purchasing personal guarantee insurance.
As part of this process, you are well within your rights to make enquiries before you commit to a particular insurer’s policy, but how do you check whether an insurance company is safe and reliable?
Our specialists have put together a series of questions that you can ask your potential personal guarantee insurance provider to ensure that they are the safest and most reliable choice.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Following news that UK ministers are poised to launch a new £3bn recovery loan scheme that will require business owners to provide personal guarantees, Todd Davison, MD of Purbeck Personal Guarantee Insurance has cautiously welcomed the move but is urging the Government to ensure SMEs are under no illusions about the risks given the current challenges many businesses are facing.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
While company status often offers protection to a business director, there are certain circumstances when directors may be held personally liable.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Loan notes, promissory notes, bill of exchange; whatever you call them, they’re an integral part of modern business and financial management.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance
You can be doing lots of business, but still be relatively cash poor. The late payment of invoices makes cash flow a real issue for SMEs who, having done the work and paid for supplies, are left to wait to receive the revenues for the labour.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance
For more information or to speak to one of our underwriters contact us today.
Purbeck Insurance Services is a trading name of Purbeck UK Limited which is a company registered in England and Wales under company number 10345620 and has its registered office at 20 - 22 Wenlock Road, London, N1 7GU Purbeck UK Limited is authorised and regulated by the Financial Conduct Authority. Firm permissions can be obtained from the FCA register. Purbeck UK Limited is a Managing General Agent and has binding authority to enter into and administer contracts of insurance on behalf of Markel International Insurance Company Limited.
