Residential Landlord, Shared Ownership and Mortgaged Properties Buildings Insurance Scheme (Long Term Agreement)

Tender description

The London Borough of Hillingdon 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. The dwellings are flats in blocks and flats in houses (maisonettes) where the Contracting Authority still retain the freehold ownership and in some case the leases may state that the Contracting Authority, 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 a small number of Mortgaged Properties i.e. properties for which the mortgage was granted by the Contracting Authority. There are also a number of Shared Ownership (Equity Share) Properties shared where there is part ownership of the property by the Shared Owner leaseholder/Mortgagor and the Council. Cover is expected to commence at 00.01am on the 1st April 2024. This is an Open Tender and is open to Brokers and Insurance companies to submit tenders.