Donate SIGN UP

Insurance on Leasehold Flat

Avatar Image
suzies67 | 23:57 Wed 26th Mar 2008 | Civil
2 Answers
I own a flat which is leasehold in a block with 5 other owners. The leaseholder who is reasponsible for buildings insurance, keeps accepting the renewal premium from the same company and refuses to shop around. The quote is now over �450 each flat and I have researched and found that a competative quote should cost no more than �100 each. I have offered to shop around for her but she says she is happy with this company but she doesn't have to pay it. Is there anyway I can force her to shop around. Don't the charges have to be fair?
Gravatar

Answers

1 to 2 of 2rss feed

Best Answer

No best answer has yet been selected by suzies67. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Have you checked what it says in your lease? Do you have a copy? I always kept a copy of mine but if you don't have it your mortgage company will if you've had the flat a few years. Nowadays the property owner the master copy if I remember rightly.

If there is no provision for this in the lease could you suggest to the leaseholder that you take the responsibility from them? And get a solicitor to draw something up to that effect and have all your neighbours sign it? Others on here may tell you if this is acceptable legally.

If not, I doubt there's much you can do. Bummer though isn't it? The best thing I did was get a house after three properties where the leaseholders were worse than useless. Good luck.
Why don't you approach the other 5 owners and see what their views are, if you all join together and say you are not paying it until she obtains at least 3 quotations, which is the norm but again look in your lease.

1 to 2 of 2rss feed

Do you know the answer?

Insurance on Leasehold Flat

Answer Question >>