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Insurance on criss-cross lease flat
calliopeviolet
Posts: 60 Forumite
Quick question, if I may: does anyone know how the buildings insurance works on a flat with a criss-cross lease (i.e. I'll be the leaseholder of my flat and the freeholder of the downstairs one, and vice-versa)? Does the building get insured as a whole and just contents for each flat?
My surveyor, mortgage advisor seem to think this is the case but my conveyancer hasn't been able to get a response from the vendor as to what actually happens in practice, so far.
Any ideas?
My surveyor, mortgage advisor seem to think this is the case but my conveyancer hasn't been able to get a response from the vendor as to what actually happens in practice, so far.
Any ideas?
0
Comments
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These 'Tyneside' leases are a real problem. The short answer is always to read the leases.
The 'real' answer is to undo the mess and vest both freehold reversions in the joint names of both flats' leaseholders.0
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