freeholder charging extortionate fee for house insurance

WiseOldOak

Great to find this post, it has given me a glimmer of hope! I am in exactly the same situation, I live in a converted terraced house with 2 flats (a 1 bed and a 2 bed) just outside of Croydon, nothing huge or out of the norm.

Every year, we have an increasing buildings insurance bill to extortionate amounts, we have complained, paid under protest, got our 3 other quotes from independent insurance co's, requested the same from them - but they will not budge on either changing their insurers or allowing us to manage the Buildings Insurance ourselves. We are dealing with a Management Co, which is Hampton Wick Estates (Used to be Empress Management - same Co but changed the name) in SW19. The insurance company is the same one they have used for the last at least 25 years and they simply say that as they insure as a block portfolio, there is nothing they can do.

About 10 years ago, they asked us if we wanted to purchase the freehold, we said yes, got our money together and then they refused to sell it to us - I've got a feeling that was because the properties would soon be approaching 80years lease. They refused to answer our solicitor and eventually she just gave up, eventually they said that the Freeholder has decided they didn't want to sell.

At the time, I contacted numerous people and Leasehold Valuation etc but was completely given the run around and nobody would help unless we paid out £000's without any guarantees, unfortunately I had been unwell and unable to coninue the fight, so we have been stuck with it since. I am hoping that things have changed in that time so that we can challenge this and stop being ripped off.

Our Ground Rent is £50 each property per year and we have just had our bill in for £726 for EACH FLAT for Buildings Insurance (not even contents too)!! If anyone could offer any help I would be extremely grateful, my 85yr old neighbour is getting SO stressed (so am I), it's just not right!:(