Buildings Insurance- Leasehold flat

Imelda

Hi all,

Well my flat is on the market and had some interest (3 viewings so far- it has been a week).

I'm just getting all the paperwork together so I can provide everything to my solicitor.

However, I can't find a copy of my buildings insurance. I have assumed that either the managing agent/ the freeholder would be responsible for this. Am I wrong? Am I uninsured?!? This would breach the t&cs of my mortgage wouldn't it?
The block was built in the late eighties and there are 45 flats if that makes any difference.

Worried!

pinkshoes

I'm in a leasehold flat, and my buildings insurance is the responsibility of the freeholder.

I'd ring your freeholder up just to check...

payless

I have come across a few where each flat owner does their own, but usually the freeholder or management company arranges a policy to cover everyone ( and charges it out!)

Imelda

I pay ground rent to my Freeholder- would the insurance come out of that?

I pay maintenance to the maintenance company separately, the accounts do not say anything about insurance.


ooooooh dear....

NOVASTAR

I run the management Company for our block of flats and the Buildings Insurance and associated paperwork are dealt with by myself. The person who runs your Management Company should therefor have a copy of it.

kingkano

I thought the freeholder would insure the building. I had to contact my housing association (who are the freeholder/maintenance company together lol) and they send out a pack with the last few years charge statements, copy of the insurance policy and other details.

You can either try to obtain this information yourself, or provide the details of the freeholder and maintenance company to your solicitor who will then contact them and extract the info on your behalf.

cattie

In all leasehold flats I've owned the service charges have included buildings insurance & was arranged by the managing agents on behalf of the freeholder.

If you receive an invoice or statements regarding your service charges it should state what amount goes to contribute towards your portion of buildings insurance.

Usually lenders like to be sure that if the managing agents/freeholder are not arranging insurance that the borrower will ensure that they arrange their own cover.

lynzpower

in my oldm, flat you remember where that is imelda dont you


the freeholder was responsble for the bildings ins for the block ( roof, lift, communal areas) i was responsible for the B ins for the flat itself.

NOVASTAR

We have Buildings Insurance (including the Certificate of Insurance Liabilty) for the block of flats (re-build and claims) I had to claim for my bedroom ceiling to be replaced due to a leak from the flat upstairs and this was done on the Buildings Insurance. I have home and Contents Insurance to cover my individual flat.

NOVASTAR

Oh - forgot to add that when a flat is sold - the Solicitor always asks for a copy of the Buildings Insurance which can be produced on request. Your Managing Agent SHOULD hold a copy.