- Client: Professional property developer and landlord
- Portfolio: Buy-to-let properties and SPVs
- Requirement: Insurance review and estate planning
Enness was approached by a long-standing client who was a professional property developer with an established portfolio of buy-to-let properties and SPVs. The client was also in the process of completing a transaction involving one of their residential properties, prompting a review of their wider financial arrangements.
Given the change to the client’s residential mortgage, Enness recommended carrying out a comprehensive review of their existing insurance arrangements. The aim was to ensure that the level of protection remained appropriate following the change and to identify any gaps that could leave the client or their wider estate exposed.
As part of the review, it became clear that the client had not yet considered their estate planning requirements. Rather than treating this as a separate issue, Enness suggested that it should form part of the wider review of their assets and long-term plans.
We introduced the client to one of our trusted advisers, who worked alongside Enness to assess the client’s circumstances and identify an appropriate solution. Following a review of the client’s assets, it was established that their estate could leave their beneficiaries with a significant inheritance tax liability.
To address this, a whole-of-life policy was put in place. Unlike a policy that expires at a specified age, whole-of-life cover is designed to remain in place for the client’s lifetime, subject to the terms of the policy. The structure was arranged with the aim of providing an appropriate and cost-effective solution for the client’s circumstances.
The case highlights the importance of reviewing protection and estate planning when significant changes are made to a client’s property and financial arrangements. For clients with substantial property portfolios, considering these areas alongside their wider financing can help ensure that their plans remain aligned as their circumstances evolve.
If your property portfolio or financial circumstances have changed and you would like to review your existing protection arrangements, speak to a mortgage specialist to discuss your requirements.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal, tax or insurance advice. Estate planning, inheritance tax and insurance arrangements are subject to individual circumstances and should be considered with appropriately qualified professional advisers. Insurance cover is subject to insurer assessment, policy terms, conditions and exclusions.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
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