Building Insurance

[adw]

We live in a ground floor maisonette and have our own buildings insurance but our concern is that the upstairs maisonette has no cover. Is this legal? did they not have to get building insurance to get a mortgage?

[BenDToy]

In my experience a mortgage lender would insist on buidlings insurance. Even if it lapses (which i let happen once) the lender contacted me to find out what had happened. They immediately put me on their own policy (at extortionate rates) until I had re-intstaed my own policy. What makes you think they don't have insurance anyway? If something happened which caused damage to your house you would claim on your own policy, and they would then take it up with the neighbour or their insurance company. I think this would apply even if they were not insured.

[adw]

We are in the process of selling our maisonette and our prospective buyers solicitor have asked for a copy of the above maisonettes insurance documents so I went round last night to ask for a copy and was told thy didn't have any insurance.

[BenDToy]

Is it poossible they are just saying this as a protest at being asked for a copy? It does seem a bit much to expect them to provide this. I think I would be difficult as well. If it is required, your solicitor should write to them asking for a copy, and offering to meet any associated costs. This might prompt them to co-operate.

[jenky]

Is the property Freehold or Leasehold? If they are not the freeholders of their maisonette, then they are not responsible for sorting the buildings insurance, the actual freeholder will have all the details.

[adw]

It's a leasehold property. We were told when we bought the place that we were responsible for the building insurance so took out our own policy. I suppose it gets the freeholder out of having to pay for anything should it go wrong?

[Miss Zippy]

If your maisonettes are leasehold, then you should have a management company that arranges building insurance cover on your behalf (they obviously recoup the cost from you and other leaseholders through the service charge). Most insurance companies will not insure maisonettes and flats on an individual basis anyway; generally you can only get cover for a whole block - I know this from experience as I have a freehold flat (i.e. I and the other freeholders have to arrange the insurance ourselves) and have looked into the various buildings insurance issues.

[adw]

We don't pay service charges. The only thing we pay to the Freeholder is ground rent of which is collected annually and is a very small amount. The rest is up to each maisonette owner. As they are not flats we don't have any communal halls, entrances, paths etc so we are only responsible for our own property and it's gardens.

[tnunes]

Can anyone recommend good insurance companies (on line if poss) who quote building insurance for flats. I am a joint freeholder of a house that has been converted into 3 flats - and have found it impossible to get an answer from the previous owner who he used. I have heard that www.stride.co.uk quote - has anyone had any experience of them ?

Thanks