Property Insurance - Leasehold Flats and Mortgaged Properties

Tender description

Reading Borough Council invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of these were under the Right To Buy (RTB) legislation Housing Act 1985. The dwellings are flats in blocks and flats in houses (maisonettes) where the Council still retain the freehold ownership and the leases state that the Council, as the Freeholder, will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats are not required. In addition There are 4 Shared Ownership Houses (5 Dee Road, 8 Dover Street, 57 Field Road, 12 Norwich Drive) which have different leases, plus one Mortgaged property (1 St Elizabeth Close). There are 9 Shared Ownership Houses (in Field Rd & Garnet Hill). These are identified on the schedule. 17 detached garages that are leased to RTB leaseholders are included in the schedule. There are no freehold properties.