frosty
24-01-2010, 16:22 PM
Hi
Our Lessor has the right under our lease to arrange the block insurance for our building and over the past number of years we have been charged £70K, £88K and £100K respectively.
This year, we were informed - in advance - that the cover would be costing us £117K, so this time we took the trouble to obtain alternative like-for-like quotes. We found cover at £63K.!
When confronted by our own quotes, the Lessor himself was suddenly able to find cover for even slightly less than that, with £62K being the resulting sum we leaseholders are now to pay this year.
Naturally, this has raised questions about the preceding years' cover, so we are considering a reference to a LVT for determination of reasonability of the costs for those three years.
(We have evidence to indicate that the Lessor has historically failed to obtain any alternative quotes, instead using a broker that Companies House show him to be a part-owner of.)
My question is: how can I work out what a would be a representative sum that we should have paid in those previous years.? Are there any industry indices, for example.? It is just that I need some estimated figures for the LVT application and would like to show that they are realistic.
(Intererstingly, this years £62K cover takes into account a premium increase resulting from a recent building re-evaluation , so the previous years cover should have presumably been even less...)
Thanks in anticipation.
Our Lessor has the right under our lease to arrange the block insurance for our building and over the past number of years we have been charged £70K, £88K and £100K respectively.
This year, we were informed - in advance - that the cover would be costing us £117K, so this time we took the trouble to obtain alternative like-for-like quotes. We found cover at £63K.!
When confronted by our own quotes, the Lessor himself was suddenly able to find cover for even slightly less than that, with £62K being the resulting sum we leaseholders are now to pay this year.
Naturally, this has raised questions about the preceding years' cover, so we are considering a reference to a LVT for determination of reasonability of the costs for those three years.
(We have evidence to indicate that the Lessor has historically failed to obtain any alternative quotes, instead using a broker that Companies House show him to be a part-owner of.)
My question is: how can I work out what a would be a representative sum that we should have paid in those previous years.? Are there any industry indices, for example.? It is just that I need some estimated figures for the LVT application and would like to show that they are realistic.
(Intererstingly, this years £62K cover takes into account a premium increase resulting from a recent building re-evaluation , so the previous years cover should have presumably been even less...)
Thanks in anticipation.