Building Insurance - top floor Flat of 3?

ottie

Hi, May i just ask as a first time buyer, if I am looking at buying a top floor flat, i presume I buy the building insurance ? Does the owner of the flats have any liability to the sort of things i might have to claim for because any future faults could be I presume sourced from the flat below me, or the flat to the left or even the foundations?? How is liability sorted if there are problems sourced by adjoining flats? thanks for any advice.

BoJangles_2

You'd pay towards a building insurance policy that would cover the whole building (all the flats) and payment of this policy would be included in the service charge.

The building insurance covers the whole building which is why only one policy is required.

G_M

You need to read the lease.

In most (not all!) leases, the freeholder of the building pays for insurance and bills each of the leaseholders (flat owners).

Similaly structural building repairs/maintenance are organised by the freeholder and paid by the leaseholders.

Sometimes the freeholder appoints a company to manage this on his behalf.

But as flat owner, you will be liable to pay for whatever your lease says you must pay.

In a few cases, the lease may make you directly responsible for insurance, but as explained this is rarer.

So read the lease.

davidmcn

What country is this flat in?

ottie

thanks to all.

The flat is in UK (England to be specific)