Local Property News

Manchester based property investment company, The Mistoria Group, have announced the re-launch of their lettings website – www.mistorialettings.co.uk

In addition to offering a fresh and modern interface, the upgraded website enables users to access information quickly and easily, whilst providing a number of further benefits.

As a prospective tenant, applications for accommodation can be undertaken online, with a property alert facility available with regards to current vacant rental properties. Landlords will now be able to view rent statements online and users will be offered the option to browse the new site in the language of their choice. Regular news updates and social media interaction are also part of the new upgrade.

The website re-launch comes at an exciting time for the Mistoria Group, who have experienced considerable and sustained growth since they were formed in 2009 by Sri Lankan born entrepreneur, Mish Liyanage.

Consisting of a selection of customised companies dedicated to servicing the specific needs of clients in all areas of property investment, the Company provides a comprehensive turnkey property solution from property sourcing right up to taxation.

Commenting on the lettings website re-launch, Mish Liyanage said ““We are delighted with the new website which we believe delivers a number of exciting key features, is easier to navigate and reflects our values and vision for growth. It will provide a better overall user experience and enhance the company’s already well-established position within the industry.”

Mortgages at risk in flood-prone areas

Homes and Businesses could run into trouble with existing mortgages if they lose flood insurance. Recent changes to insurance rules mean that many properties at risk of flooding will be unable to get flood insurance from June next year when insurers will be no longer required to cover high risk areas.

Being unable to insure the property against flooding could breach mortgage covenants if these were made with the agreement that insurance was in place. This could see land and property owners being forced to renegotiate mortgages and unable to borrow more money against assets.

Geoff Williams, Director at Manchester Based Loss Assessors Cherry and Griffiths said: “Flooding is one of the biggest threats this country faces and this summer could be the wettest we’ve seen for a decade. “As many as 5.5 million people live and work with the threat of flooding in the UK, the experience of floods to businesses and homes can be traumatic for those affected.

“You can’t put a price-tag on losing your lively hood to floods. That’s why flooding is known as the silent, indiscriminate burglar. With the Flood Insurance Statement of Principles – the gentleman’s agreement between the Government and Association of British Insurers – expiring in 2013, homeowners and businesses face even more uncertainty over whether they will get flood insurance.

“It is vital that people are aware of the risks and are properly prepared.” Flood insurance was becoming a key factor in property investment, said Geoff Williams of Cherry and Griffith Loss Assessors. High risk premiums of up to 60% may be applicable with high excesses. “I’d certainly advise people to take into account the cost of insurance when investing in land or property,” he said.

There would be an increasing need for a flood risk assessment to demonstrate that adequate defensive work had been undertaken and insurers may want their own survey.

Property Recruitment specialist moves to 57 Spring Gardens

Property Recruitment Specialists Judd Farris recently relocated from offices in Arkwright House to 57 Spring Gardens, one of Bruntwood’s prime locations in Manchester city centre.

Having been in Manchester for almost 13 years working within in General Practice Surveying, Town Planning, Technical Surveying and Facilities Management markets, Judd Farris are growing their operation.

David Williams, Team Manager of the General Practice division said: “Spring Gardens is a fantastic location from which we can pursue our expansion plans over the next few years. Although the market continues to prove challenging, we are actively looking to grow elements of our service provision and will continue to invest in growth areas of the business. The future is an exciting one and one that the team and I are very much looking forward to”.

Their office telephone number has subsequently been changed and is now 0161 242 8899.

Manchester-based NCC Group partners with Canary Wharf

Property Group takes a protective step with Manchester-based software business – NCC Group

Canary Wharf Group has partnered with the world’s largest software escrow provider, NCC Group who are based in Manchester, to provide a protection solution for their software.

To cope with its rapidly expanding development, Canary Wharf has invested time and money in developing IT systems to assist with the organisation’s construction and development plans. This includes Hummingbird, a document management system designed by Bovis Lendlease which handles the extensive paperwork process that is involved with any building project from initial designs to planning permission right through to site instructions.

The system distributes the documents to the relevant parties for review and approval, saving the company huge amounts of time and resource.

Following a review of the marketplace, Canary Wharf Group decided that NCC Group’s software escrow solutions were a smart, simple way of managing risk.

Under the terms of its’ straightforward software escrow agreements, NCC Group holds a copy of the application source code which Canary Wharf Group depends upon but does not own. The source code is deposited along with all the information,scripts and codes needed to use and maintain the software, by the supplier.

If a ‘trigger event’ should occur that would render a supplier incapable of fulfilling its contractual obligations. This would then enable Canary Wharf Group to maintain and support the application in-house or appoint a qualified contractor to do so. Thus protecting their position.

NCC Group plc can be found at Manchester Technology Centre, Oxford Road, Manchester, M1 7EF Phone: Contact is Phill Smith on 0161 209 5455