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Do I have to use the house insurance company that my flat's leaseholder company says?
Christabel
Posts: 250 Forumite
The company who own the leasehold on the block of flats that I live in have changed insurance companies and I am now getting demands from a different company who are asking loads for the annual policy. The flat is just a small bedsit, one of eight in the block, worth about £40k, and this year's demand is for £224.54. It even includes a terrorism premium and the flats on on the outskirts of a small Welsh town. Can I look elsewhere to insure the flat does anyone know please?
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When we owned a flat the insurance was on the whole building by the freeholder and we paid a share.
Found some info here which may help
https://www.gov.uk/leasehold-property/service-charges-and-other-expenses
there are different rules if you are in NI (edit - not in your case as I just notice you are in wales ... doh !
https://www.gov.uk/leasehold-property/overview
There is also a leasehold advisory service which may help http://www.lease-advice.org/0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
House sale OCT 2022 = NOW MORTGAGE FREE 🤗
House purchase completed FEB 2023 🥳🍾 Left work. 🤗
Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).
Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1
Living off savings diary
https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p10
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