Send govt. your views and evidence about poor service, wasted spending, and high charges

After pressure from leaseholders organisation and others, the Office of Fair Trading is to investigate Service Charges.

Evidence is invited from anyone concerned and results are due by the end of 2014. The study was first announced last year to look at services for flats in the private sector only, but 250 people and organisations wrote in about its limited scope and it has been agreed to include the millions of leaseholders who rely on councils and housing associations to run their estates.

Go to www.oft.gov.uk/subscribe to register for progress updates; and email propertymanagers.study@oft.gsi.gov.uk to send them your views and any evidence about poor service; wasted spending; and high charges. For more information: http://www.oft.gov.uk/OFTwork/markets-work/residential-property-management/#.UxcnfPl_sXU

In their detailed scoping report published 4th March 2014, the OFT said that the social housing sector was, on reflection “too large and important” to omit from their study.

The study’s full title is “Market study into the provision of residential property management services”. In April, the OFT gets merged into a new Competition & Markets Authority (CMA). info from Hackney Leaseholders

BCIS warns insurers about underinsuring flats

13 February 2012 |By insurancetimes.co.uk Newsdesk 
Policyholders could be exposed to “significant financial loss”

The Building Cost Information Service (BCIS) has warned insurers that buildings insurance arranged for individual flats carries a significant risk of underinsurance.
Buildings insurance is commonly taken out on the whole block by the freeholder of the property and the premium split between the various leaseholders.

“In a total loss situation, policyholders may receive a payout far short of the market value of their flat but they would still need to continue to pay their mortgage.”
OCASO etc are our guests at the forthcoming April ILA meeting.

OCASA Building Insurance – comments on the queries from ILA meeting

BUILDING INSURANCE QUERIES _ILA MEETING_11Jan12 and response from JLTAlison Goodwin from JLT [Jardine Lloyd Thompson Public Sector Risks] who admin OCASA Building Insurance have sent us comments on the queries submitted for the January ILA meeting. The ILA queries and her comments are in the attached document.