The City regulator is facing calls – long made by Leasehold Knowledge Partnership – to close a loophole that allows building owners to inflate insurance premiums, of which commissions as high as 72 per cent are being dumped on unsuspecting flat leaseholders.
On Wednesday, the Independent reported that “LKP wants the Financial Conduct Authority to tweak its rules around insurance to recognise leaseholders as parties to buildings insurance policies taken out by freeholders.
Nick Hargrave: It’s time to put leasehold reform at the top of the agenda
Nick Hargrave is a former special adviser to David Cameron and Theresa May. He writes here in a personal capacity. One of my regrets from my time in Downing Street is that I didn’t do more to agitate on the subject of leasehold.