JLT and iREDD target opportunities in the UK real estate sector

JLT and Intelligent Real Estate Due Diligence (iREDD) have today entered into an agreement to jointly promote and exploit new business opportunities identified in the UK real estate sector.

JLT partner Bill Gloyn said: "At a time when there are some signs of a resurgence in the property market, it is not surprising that the parties concerned on the buying side - purchasers and funders - are approaching deals with a degree of caution.

"Many transactions have a legal issue that can be resolved by the use of insurance - a traditional lubricant for commerce."

iREDD is an insurance broker recently formed to speed up and improve the traditional conveyancing and property transfer process.

Gloyn added: "I am delighted that the iREDD team has sought to link up with JLT European Real Estate to develop and promote a range of products and services that will assist deals to go ahead.

"It is in everyone's interest that confidence returns to the market as soon as possible. There will be nothing like a healthy flow of completed transactions to encourage even more to get underway."

iREDD co-founder and general counsel Robert McNally said: “The traditional approach to conveyancing and the property transfer process involves much unnecessary duplication of due diligence as each individual stakeholder in a transaction endeavours to protect its own interest."