House leaseholders can now buy building cover

clock •

Introduction of new long leaseholder property rights have been unveiled today which allows leaseholders of houses to choose their own buildings insurance rather than use the policy nominated by their landlord.

Implementation of the Commonhold and Leasehold Reform Act 2002 from today means leaseholders are now required to issues written demands for ground rent before it becomes payable and then go through a valuation tribunal, court or arbitral tribunal before late payment can be seen as forfeiture. According to new rules issued by the DTI: Landlords are required to demand ground rents in a specific manner before they are able to take any action or impose any penalties for late payment; They must first satisfy a leasehold valuation tribunal, court or arbitral tribunal before they are able t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

FCA: Pure Protection Market Study does not give industry 'a clean bill of health'

FCA: Pure Protection Market Study does not give industry 'a clean bill of health'

Firms must still demonstrate fair value

Jaskeet Briah
clock 11 November 2026 • 2 min read
Budget 26: The protection and health impact

Budget 26: The protection and health impact

Protection industry reflects on missed opportunities

Cameron Roberts
clock 30 October 2026 • 5 min read
Is failing to protect a client's income an oversight or neglect?

Is failing to protect a client's income an oversight or neglect?

What happens to your financial plan if your ability to earn reduces or stops?

Kevin Carr
clock 29 October 2026 • 3 min read