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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. -
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.Leave a comment:
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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?
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But a wood floor that buckles would be considered structure and covered...02-07-2022, 21:49 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 -
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 -
I have re-read the lease and it seems clear: the interior of the flat must be insured by the lessee.
I've added screenshots of the relevant sections and I would appreciate if someone could confirm or correct my interpretation.Section 4 - Lessee Covenants: lessee must insure the interior...30-06-2022, 17:17 PM
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