We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Buildings insurance with share of freehold
FTB-FTW
Posts: 115 Forumite
Sorry to start a thread so similar to my last one but I am confused and need to sort this quickly.
Our new flat has a 50/50 share of freehold, with both shares sold at the same time, i.e. in the past month.
We need to sort out buildings insurance, and in our solicitor's letter it says that we could do this in conjunction with the downstairs flat, and split the costs between us. This *sounds* like a more cost effective way of doing it than taking out our own insurance independently (is that usually the case?) but I am not sure of the pros and cons of doing it this way, or indeed how we would make such an arrangement without having yet met our new neighbours or knowing what they have done vis a vis insurance.
Can anyone help?
Our new flat has a 50/50 share of freehold, with both shares sold at the same time, i.e. in the past month.
We need to sort out buildings insurance, and in our solicitor's letter it says that we could do this in conjunction with the downstairs flat, and split the costs between us. This *sounds* like a more cost effective way of doing it than taking out our own insurance independently (is that usually the case?) but I am not sure of the pros and cons of doing it this way, or indeed how we would make such an arrangement without having yet met our new neighbours or knowing what they have done vis a vis insurance.
Can anyone help?
0
This discussion has been closed.
Categories
- All Categories
- 347.1K Banking & Borrowing
- 251.6K Reduce Debt & Boost Income
- 451.8K Spending & Discounts
- 239.4K Work, Benefits & Business
- 615.2K Mortgages, Homes & Bills
- 175.1K Life & Family
- 252.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards