London, 11th December 2013: Specialist household insurance provider Plum Underwriting has extended the reach of its HomeWorks product to cover landlords undertaking extensive building extension projects and renovations as the UK’s buy-to-let market shows strong signs of recovery.
Previously the HomeWorks product, which was enhanced in May and also launched recently in the Republic of Ireland,
only covered policyholders renovating, refurbishing or extending their own homes. The individually underwritten product is aimed at brokers looking to secure cover for building works that are too extensive for the appetite of high net worth home insurers.
HomeWorks incorporates cover for general contents and includes subsidence cover for the existing structure as standard. In the event of an issue in the UK, policyholders can ring a 24 hour legal helpline that offers advice on any private legal problems and provides access to a free online legal document service.
Plum’s Managing director, David Whitaker, said: “According to data from The Council of Mortgage Lenders, the UK buy-to-let market is showing strong signs of recovery with mortgage advances at levels not seen since 2008.
“With many properties purchased by private investors needing considerable renovations or remodelling before renting to tenants, there is considerable scope for brokers to provide cover for these often complicated works risks. By extending the scope of Plum’s proven HomeWorks product we now able to provide this market with a flexible, dependable and fast access solution to their clients’ specific needs.”
For further information please contact:
Ian Barrett at Concise PR
T: 020 7100 3960
M: 07949 422257