Can a greedy freeholder add 12% to each of 8 flats in 2 blocks he owns for renewing or a phone call and admin ? It’s £40 each on top? How is this reasonable?
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Is this freeholder or an agent for the freeholder.
But no he can't. Unless lease says so. But an agent sort-of can (and then hand part of it back to FH as the usual backhander). Part of the reason the whole legal framework is so messed up. -
12% is the current rate of Insurance Premium Tax (IPT). Some documents from insurers/brokers/agents/freeholders may not be great at displaying clear information and could possibly be misread as a charge being made on top of the insurance cost when in fact it is actually tax. Might be worth double checking.Steve Smith - Company Director at a leading Landlord Insurance broker with 20+ years experience in the industry
LandlordZONE Verified Poster and Topic Expert for Landlords Insurance since 2009
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You are indeed correct but only in part; I manage a top floor flat for an overseas client, several years ago there was ingress of water into the second bedroom and because there were no breaks installed the Insurance Company fully covered the replacement of the floor; great but three years ago the same...03-07-2022, 15:25 PM
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Hello everyone,
I am a leaseholder in a purposed built block of flats that has 16 flats. The freeholder appointed a company to manage the building and communal areas.
The service charge that we (leaseholders) pay to the managing company includes a Building's Insurance. My questions...30-06-2022, 11:04 AM -
But a wood floor that buckles would be considered structure and covered...02-07-2022, 21:49 PM
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In section 6(a) clause (1)(v) The landlord covenant to maintain the water pipes and drains (but not inside the flat).
So water leak originating inside the flat is repaired and paid by the leaseholder.01-07-2022, 12:57 PM -
if for example everything above floor joists in an upstairs maisonette was demised to the lessee, ie to include all structure then the lease would be perfectly okay even if not in accordance with Council of Mortgage Lenders preferences. Generally lenders dont like leaseholder to insure covenants, but...30-06-2022, 23:35 PM
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Here are the two remaining lease sections that I refer to in my questions above....30-06-2022, 20:13 PM
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It is still a nonsense. It is asking lessee to insure a portion of something which lessee cannot insure....30-06-2022, 20:13 PM
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Apologies, for some reason the photos I uploaded earlier were too small...30-06-2022, 20:10 PM
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Your lease makes no sense whatsoever and was drafted by an idiot.
Insure the "interior" to a value of a 1/16 of the whole "block" - what the hell.
The building sounds effectively uninsured.
etc......30-06-2022, 18:37 PM
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