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Buildings Insurance - Leasehold Flat


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Dear all

Grateful for your advice.

I currently own (have mortgage) a leasehold flat (Second floor) and wish to rent it out. Currently the building insurance is arranged by the Freeholders and we all flats in the house pay 1/5 of the annual sum.

My question is whether this buildings insurance will be valid if I rent the property out?


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* The lease will determine if you are allowed to rent out the property, any restrictions and wether you need any permissions.

* The insurance policy currently in place will determine who/ what is insured.

* Your mortgage lender will need to be informed and may impose restrictions/ requirements.

So, my suggestion would be to read both lease and insurance policy (your freeholder is legally required to provide you with a copy if requested) and talk to your neighbours, find out if they rent their properties out and ask for the details.

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If the block is managed by a management company give them a call.

If the lease allows subletting which most do the freeholder/Man Co is responsible for getting the correct insurance.

You maybe charged for permission to sub-let and some Man companies charge a outrageous amount as an admin fee but that is another discussion.

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