Insurance admin charges

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    Insurance admin charges

    Just a quick question if anybody could answer please.

    Are my freeholders allowed to charge an administration fee on top of the already extortionate insurance premium? There is nothing in my lease referring to this.

    I have questioned it and they have quoted they want to be transparent etc and quoted the Commonhold and Leaseholder Reform Act 2002.

    I've had a look at that but i can't see anything referring to insurance only rent.

    Can anyone let me know please?

    Thanks in advance.

    #2
    I would question whether it really is an extortionate premium, assuming it is a mainstream lender.

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      #3
      Thanks leaseholder64.

      I have obtained RTM from August 20th and the quote is £850 rather than £1750.

      This is why I am querying the admin charges as I have just paid next years premium of which most will be returned to me. They have rocked my boat so I'm just asking whether I have to pay the admin charges or not.

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        #4
        Is the quote at 850 pds based on "like for like" insured cover as for the 1750 pds quote ?

        If you have quotes for " EXACTLY the same cover" as insured by freeholder , then you can use as evidence at the FTT ?

        Make an application to the FTT for reducing the insurance premiums paid for past 6 years

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          #5
          Yes Gordon999 its exactly the same apart from terrorist cover as my lease specifically states that I don't need to insure for this.

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