Lannock’s Insurance Premium Funding (IPF) is a practical financial solution for financial challenges caused by increasing insurance premiums with in strata communities.
In the face of surging insurance premiums, strata communities often struggle to raise the levies to fund rising premiums. Inflation, an increase in claims, supply chain constraints, catastrophic weather events, scarcity of materials and labour shortages are all factors driving the increasing costs of insurance in strata.
Unlike traditional IPF providers, where there is a risk of policy cancellation if a payment is late, Lannock provides funding for your Owners Corporation to pay your premium in full and upfront.
Lannock Insurance Premium Funding can help provide a solution in your strata community.
Benefits of Insurance Premium Funding:
Flexibility: With no minimum or maximum facility amounts, our solutions are tailored to your Owners Corporation’s specific needs.
Fast Access to Funding: Get 100% of the premium when you need it, eliminating the risk of coverage gaps. Approvals can be provided within 24 hours.
Smoother Cash Flow: Lannock IPF spreads your annual insurance payments over 12 months, easing financial strain during cost-of-living challenges.
Monthly Payments: Monthly repayments provide greater flexibility and control.
12-Month Term with Room to Breathe: Benefit from a 12-month term with the added flexibility to extend if required.
Competitive Rates: Enjoy highly competitive interest rates calculated on your reducing balance – not an expensive flat rate like others charge.
Early Repayment Option: Repay the facility off anytime with no extra charges.
Discover more about Strata Insurance - Premiums & FundingWho Can Borrow?
Any Owners Corporation looking to manage their insurance premiums more effectively.
Lannock Insurance Premium Funding is provided to the Owners Corporation. Not individual owners. We don’t ask for personal guarantees or financial information from owners.
Taking the Next Steps:
