Adding 12% charge to insurance premium.

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    Adding 12% charge to insurance premium.

    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?

    #2
    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.

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      #3
      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
      See my profile for contact details

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