Written question asked by Peter Bottomley (Conservative) on Wednesday, 24 February 2010, in the House of Commons. It was due for an answer on Friday, 26 February 2010. It was answered by Sarah McCarthy-Fry (Labour) on Tuesday, 2 March 2010 on behalf of the Treasury.

Insurance: Buildings

Question: To ask the Chancellor of the Exchequer if he will bring forward proposals to give the Financial Services Authority the power to consider cases of unreasonable buildings insurance premiums charged by freeholders of rented or leasehold property.

Answer: Remedies already exist for leaseholders to establish whether or not the insurance premium they are asked to pay or contribute towards by way of service charges is reasonable.Where a leaseholder considers that a freeholder has overcharged in respect of the building insurance premium (or their contribution towards it), they have a right to take the case to a leasehold valuation tribunal for a determination of the reasonableness of the insurance.

Secondary information