By Jacqui Edwards, Head of Insurance at Solstar Insurance Brokers

Sometimes, getting a property finance transaction over the line comes down to acting quickly.

We recently received an urgent request from a client whose building insurance needed to be updated before their lender would release the funds for completion. The enquiry reached us at 9.51am and everything was resolved by 11am, allowing the transaction to remain on track.

That speed of response matters when a completion is at risk but it is only possible when it is supported by experience and an understanding of what every party needs.

I have worked in financial services for 28 years, including 17 years as a mortgage broker at HSBC. I have also spent the past nine years working across the Brightstar Group, gaining experience in several divisions and developing a detailed understanding of the specialist property finance market.

That background shapes the service we provide at Solstar. Having worked as a mortgage broker, I understand the pressures brokers face. They may have spent weeks structuring a transaction, managing the application and responding to lender requirements. When completion is approaching, the last thing they need is an insurance issue creating an avoidable delay.

I also understand the information a lender is likely to require and the questions that need to be asked of the client. This allows us to identify potential issues early and arrange cover that reflects the property, the proposed works and the lender’s conditions.

For a straightforward home purchase, a client may be tempted to arrange insurance online. However, specialist finance transactions rarely fit neatly into an online journey.

A commercial warehouse, mixed-use building, investment property or property undergoing substantial refurbishment may require cover that is not readily available from a mainstream provider. If the wrong information is entered or an important detail is overlooked, the client could find themselves underinsured or with a policy that does not satisfy their lender.

This is where a tailored approach becomes important.

A broker may be highly experienced in arranging bridging, commercial or specialist mortgage finance without having detailed knowledge of the insurance market. They should not be expected to understand every policy wording or know which insurer is comfortable with every type of risk.

Solstar can take that responsibility from them. We can review the circumstances, identify the relevant risks and approach insurers with an appetite for the case. This frees the broker to concentrate on progressing the finance and managing the wider client relationship.

Our support can also extend beyond the initial transaction. A client using bridging finance may be purchasing an empty property that they intend to renovate before moving into it. We can arrange appropriate cover while the building is unoccupied and undergoing works and then help the client move to suitable residential insurance once the project is complete.

That continuity means we are not simply arranging a policy at one point in time. We are supporting the client throughout the property journey and helping ensure their cover continues to reflect how the building is being used.

Insurance may not always be the first part of a property transaction that people want to discuss. However, when the correct cover is a condition of the lender releasing funds, it becomes critical.

Good service is about more than finding a policy. It is about understanding the entire transaction, anticipating what could prevent completion and acting quickly when a broker or client needs help.

For brokers, that means having someone they can trust with the paperwork, the lender requirements and the specialist details. They can hand the insurance requirement to us, knowing we understand where it fits within the wider transaction and will do everything possible to keep their client moving towards completion.