Hi all,
it's that time of year - house insurance up for renewal. I'm less than impressed with the 20% increase my current insurers think they'll get, so am shopping around. I'm a homeowner, paying a mortgage on a leasehold property.
However, there's a clause in my lease which states that the property "shall be insured with XXXXX or other insurer of repute, approved in writing by the freeholder". When I first bought the property, the freeholders wanted 40quid to "approve" the insurance. Even if I just renewed it they wanetd this every year ....
How enforceable is this clause, and if it is, how reasonable is the charge ?
thanks