2024/25 Rent Increase Arrived Through Post - Huge 255% Service Charge Increase

Jude57

TH71 said:

Sounds like the TGP must have had a load of complaints on the service charge/insurance increase as it is on one of the options when you call them. Press (number) if it relates to the increase in Service Charge

I did a Building AND Contents cover comparison and it came out less than £100 per year with £0 excess in most cases

TGP have sent me a leaflet from Zurich Municipal Select for Social Housing, who are providing the cover, but not mentions of a breakdown of the annual amount of £370

A bit suspicious about this one. Been on hold now for the last hour. I suppose loads are ringing TGP about the same thing

Did your buildings insurance comparison include indemnifying neighbouring flats (above, below, each side if applicable), cost of repair or replacement of the roof, mains utilities, sewerage and drainage, lifts and communal areas of the block? I live in a 14 storey block and can't get any comparison site to offer insurance solely on my 2nd floor flat without the insurance company having sight of the block policy held by my landlord. I could certainly get a quote if all I entered into the system was 'single dwelling, 2 bedrooms, 1 bathroom, 1 occupant' but it's unlikely to cover me if I needed to claim because it's not a 'single dwelling' in the sense that it has more than party walls such as a house (other than a fully detached house) would have. A flat in a block has party walls, party ceilings, party floors and so on. I wouldn't advise you to rely on comparison sites for the type of insurance blocks of flats need.

TH71

@Jude57

Without going through doing the quote again, when I compared the insurance we are supposedly paying towards with TGP, and going through the comparison site quiotes, the comparison site ones covered the same plus extras to what TGP one covers, and for a lot lot less per month/year.

We are in a 50/50 shared ownership semi detached home with TGP (about ten on our street). And due being shared ownership, we get no help at all with anything to do with the property. We have to maintain and pay for everything ourselves. So that begs the question on why we have to pay the full service charges per month anyway when it looks like it does not apply to us, apart from the cutting of the little areas of grass and hedges twice a year near us.

Around the shared ownership homes on our street are all rented accomodation from TGP and they get everything done......new this new that

When I got through eventually to TGP (as per my last post on here) the cs advisor said somebody will ring us to apparently explain the huge increase of the Building Insurance. As of yet, I have had no call.

Since 2016 the Service Charge (Insurance and Managment Fee) has risen staedy from around £8 per month to last years £9.90 per month, to this coming years whopping increase to £32 per month.

At the end of the day we need an explanation on why it has jumped a massive 255% from last year