The highest level of underwriting
capacity in the UK.

We cover an extensive range of known risks, on a standard or a bespoke policy basis that can be tailored to meet your clients’ requirements. Our known risk cover can include both multiple risks and/or properties on one policy ensuring the most straightforward solution for your clients.

Our known risk policies not only cover the insured property owner but also any lenders/mortgagees, lessees and successors. In most cases, cover is provided on an in perpetuity basis with an option to include inflation protection cover available.

We offer development/change of use cover for residential, commercial and mixed use projects against a wide range of known title risks, either on a pre-planning or post-planning basis. Cover can be provided on a post-planning basis, where the necessary planning consents have been obtained prior to inception, or on a pre-planning basis, where the planning process has not yet been submitted. Cover can also be enhanced to cater for additional specified losses for distribution network operators, promotion and planning costs as well as inflation cover can also be added.

Our two stage developers’ policy provides cover at a pre-planning stage, with an apportioned part of the premium paid upon issue, and subsequently through to the post-planning stage with the remaining premium paid after planning consent. This flexible policy allows the developer to reduce the upfront cost of the policy but benefit from the full cover provided whilst mitigating abortive costs should planning be rejected or the scheme become unviable.

At First Title, we can very quickly provide coverage and premium indications tailored to your portfolio transaction needs, whether it’s multiple known risk coverage per property, a master known risks policy, or comprehensive good and marketable title cover across the entire portfolio through our Property Owners Protection Policy (POPP).

This portfolio wrapper cover is particularly beneficial when time and/or transaction costs are critical factors, and is an effective solution for portfolio acquisitions, disposals and refinances. We will work alongside the legal team at the due diligence stage to underwrite a sample of the portfolio and offer a good and marketable title. Whether it is 5 or 500 properties in the portfolio, our bespoke policy can cater for each and every one.

Our judicial review coverage protects against financial losses such as abortive project costs and loss in market value of the property resulting from your clients' planning permission being challenged and quashed by judicial review. The policy also covers all legal costs in defending a judicial review challenge, as well as a variety of other losses.

Our POPP provides a good and marketable title cover as well as insuring against a wide range of unknown risks and title defects that would not fall within the scope of the due diligence report. This flexible policy is also often used by investors and funders as it can assist in raising leverage at the purchase stage, as well as facilitating a clean exit free of contingent liabilities, in the event of a sale. For recoveries and receiverships, the policy offers peace of mind during an acquisition by replacing the lack of otherwise available representations and warranties. It can also be used when disposing of assets and can help to reduce price chipping and speed up the sales process.

Our lender cover protects against a range of known risks that may impact a lender’s assumed security value of mortgage-secured property including cover for lenders where adequate mortgagee forfeiture protection rights are not evident in leases.

Additionally, our Mortgage Lender Protection Policy (MLPP) provides portfolio or multi property, good and marketable title cover to lenders for a wide range of unknown risks and title defects that may impact the security value as well as the validity, enforceability, and priority of a lender’s charge.

Renewable energy projects can carry significantly different risks and losses to that of standard property developments, be that a wind, solar, battery storage or an alternative green energy scheme. Our renewable energy cover is tailored not only to cover the standard legal ownership and use risks, such as restrictions on title and reserved rights, but also more complex developer-specific interests, such as equipment relocation and decommissioning, loss of profit and liability for late grid connections.

We have specifically designed a range of additional heads of loss endorsements to protect tenants. These specialist additional heads of loss can be added to a known risk policy to cover financial losses such as rental liability, consequential loss, loss of profits and relocation costs suffered as a result of an insured risk.

Our consequential loss endorsement offers greater protection for financial losses incurred by interruption of the use of a property, whether by injunction or to manage a claim. Typical losses covered include:

• Additional interest payable to a bank or other financial institution;
• Additional expenditure incurred by permitting staff, plant or other equipment to be used at another location;
• Depreciation and other standing charges for plant and equipment;
• Wages, salaries; and
• Other costs of staff.

With our UK single policy capacity exceeding £1.6bn for defective title risk cover, we can provide excess layer cover for the difference between the Gross Development Value or Market Value of the insured property and the indemnity limit of an existing or proposed third party insurance policy. We can offer this for a whole array of different risks including Rights of Light cover.

First Title can deploy its market leading capacity to provide title insurance solutions for real estate M&A transactions.

Our policy provides comprehensive title coverage, for the full enterprise value (subject to capacity) and for the whole period of ownership of the insured party(ies). We can provide cover on a ground-up basis or with an excess.

We also offer a broad range of policy enhancements to tailor our policy to the specific requirements of each transaction.

• Affirmative cover for known/specific risks
• Loss of rental income coverage
• Tax gross up (up to the limit of cover)
• Excess erosion
• Excess removal
• Successor coverage (group and third-party transfers)
• Seller insolvency coverage
• Escalation clause (in respect of the limit of cover)
• Local law policies
• Planning/permitting coverage