From the new year, insurance firms will be forced to act in leaseholders’ best interests, treat leaseholders as customers when designing products and will be banned from recommending an insurance policy based on commission or remuneration levels.How do you anticipate this will impact the market?Is this something you had been calling for?Do you believe there is more to done or are you happy with the changes?

mortgages

FCA confirmation of leasehold buildings insurance reforms 

This is great news for beleaguered leaseholders across the country, who for too long have been forced to pay towards whatever policy the freeholders or management company arranged with no consideration on most suitable or best value. Whilst the leaseholders still won’t be in control, they should be better protected from this legislative change.

Stephen Perkins

Managing Director of Yellow Brick Mortgages and regular national media commentator on mortgages, housing and personal finance. Yellow Brick is the UK's #1 ranked finance brokerage on Trustpilot, with over 6,900 five-star reviews. Stephen specialises in helping consumers make better financial decisions by explaining complex mortgage topics in simple, practical terms.

FCA confirmation of leasehold buildings insurance reforms

1 responses from the Newspage community
Copy all

Stephen PerkinsVerified

Managing Director at Yellow Brick Mortgages

1 responses from the Newspage communityCopy all

1 responses from the Newspage community
Copy all