Freeholder's Managing Agent asking for £35 for Insurance checks?

monkeyshavingexpert

hi,

I've recently bought a house & have had a letter from the freeholder's "managing agents" asking for me to either:

1. Arrange my building insurance through them
2. Send my insurance papers to them along with a cheque for £35

I've already arranged insurance & hadn't realised this might happen. Does anyone have any advice? Is this standard practice?

Thank you!

cattie

I've owned 3 leasehold properties, flats & maisonettes, no house. In each of them it has been standard for the managing agents to arrange for insurance & be billed for the applicable portion of it through the quarterly service charge. With flats insurance often works out cheaper when taken as a blanket cover for the relevant properties.

Read your lease as there may be something in writing about having to pay an admin charge if you arrange your own insurance. I know some mortgage lenders charge a fee if you don't take out your insurance through them.