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Buildings insurance tied into ground rent
RMG360
Posts: 2 Newbie
Being a house owner and having to pay ground rent is a bit of a bind, but the yearly charge of £20.00 does not seem too much. However, 'Estates and **********' who own the lease, have tied in a clause that I have to take out the buildings insurance through them, and you guessed it, it's double the price. Is this common practice? Is it legal, if so is anyone aware of a loop-hole to exploite?
Richard
Richard
0
Comments
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Hi, just bumping you up in hope of a reply
savvyHonorary Northern Bird bestowed by AnselmI'm a Board Guide and volunteer to help get your forum questions answered and keep the forum running smoothly on Special Occasions, Green/Ethical, Motoring/Overseas/UK Travel & Flood boards, it's not part of my role to deal with reportable posts. Report inappropriate or illegal posts to forumteam@moneysavingexpert.com. Views are MINE & not official MSE ones
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As of 28th feb 2005...............
Leaseholders of houses will also be able to choose their own buildings insurance for the property rather than use an insurer nominated or approved by their landlord.
http://melbournehtml.butterworths.co.uk/dataitem.asp?ID=50471&tid=7
this is ue to changes to the "Commonhold and Leasehold Reform Act 2002."
that have now come into force
http://www.odpm.gov.uk/pns/displaypn.cgi?pn_id=2005_0040
hope that helps0 -
A big thank you to Trafalgar and Savvy... MSE has saved me even more money.0
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