Michael Gove slams "neither fair nor decent" high premiums for leaseholders
Michael Gove, the Secretary of State for Levelling Up, Housing and Communities and Minister for Intergovernmental Relations has pledged to reduce premiums for leaseholders amid the Financial Conduct Authority’s study into the market.
Gove wrote to the Financial Conduct Authority to respond to its interim findings on the key drivers of high premiums for buildings insurance for multiple-occupancy residential buildings.
In a letter to Sheldon Mills, FCA executive director – consumers and competition, dated 13 May, Gove responded: “I welcome the focus on potential harms. I have previously expressed concerns regarding the affordability and availability of insurance for leaseholders in flats with fire safety issues.
“It is
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