The RICS Consultation, launched in April 2009, found ‘ numerous examples of unwelcome practices and inconsistencies in the level of transparency provided for professional fees.’
Consultation responses concerned:- Service Charge levels, Valuation Fees, Commissions on Letting Renewals, Home Information Packs, Energy Performance Certificates

RICS wants Landlords, Letting Agents and Managing Agents to be subject to regulation by an independent body, such as the Property Standards Board. Further, a government review of existing legislation, greater transparency and clarity of in the description of Mortgage and Valuation Fees for Mortgage Applicants.

Those in property law reform like CARLEX and CARL have more strident views than another self-serving industry QUANGO. Government legislation to regulate via the Financial Services Authority (FSA), Office of Fair Trading (OFT), Local Government Trading Standards and, Serious Fraud Office (SFO) is there already. It just needs joined up government !!

Back in 2001, I had a selected opportunity to question Charles Clarke MP, then Secretary of State for Education, the question and response as below:-
AI Q: ‘ What the hell has happened to Housing !!
CC R: ‘ Hand on heart, Housing has been on the back burner for far too long. Next year should see some significant progress. ‘

In 2002 came the Commonhold and Leasehold Reform Act, which was, as we all know fundamentally flawed from the outset. Largely, the only really useful bit has been ‘Right To Manage’, bin the rest.
Housebuilding has collapsed and skewed the residential property market through lack of supply against demand, this compounded by the international Finance Sector induced crisis affecting wholesale funding and the mortgage market.

Despite the quality report ‘An end to Feudalism’ by Nick Raynesford MP and Frank Dobson MP, the Labour Government have lost the PLOT over Housing and Property Law Reform. That is if they ever understood the PLOT and the fundamental affectation of Housing on the wider economy and society in general. Focused from 1997 on Education, Education, Education, followed by Health Service, Health Service, Health Service, almost everything else under government has been gut response to crisis after crisis under intensive micro-management leading to comprehensive mis-management.

Leaseholders, Pensioners and many other inter-linking groups have been ignored and alienated. Now, of course, there will be the inevitable sharp focus on Voters, as so much is at stake to govern in the future.
GAME ON FOR THE GENERAL ELECTION – 6 MAY 2010. However one votes is personal choice and for many a very private function. Persuade all you can to exercise their right to vote – People died for it !!

Alan Ingram
Consultant
Fair Property Ownership

Compare Landlord Insurance

Cheap landlord insurance

Cheap landlord insurance is just a click away with CompareCrazy. Advanced quote technology means CompareCrazy instantly searches landlord insurance brokers to find you the cheap landlord insurance your are searching for. In fact rather than a search engine you could say CompareCrazy is the find engine. Searching landlord insurance brokers to find you the cheap landlord insurance that suits your needs.

But how do I know the cheap landlord insurance policy is right for me?

A good question – The intelligent systems used by CompareCrazy provide leading landlord insurance brokers all the information they need to provide you with an accurate quotation even on some of the most complex landlord insurance risks

I own more than one property can I still get cheap landlord insurance online?

Absolutely – in fact if you have a property portfolio even including commercial and residential property, the CompareCrazy system supplies all the information required by insurance brokers to provide you the cheap landlord insurance you are looking for. If you do own a number of properties a single landlord insurance policy provides a number of benefits including

• A single landlord insurance renewal date for all your rental property
• A single point of contact for claims
• Cheaper premiums when compared to individual landlord insurance policies

If you’re looking for cheap landlord insurance than why not compare with CompareCrazy it only takes a few minutes and could get you that cheap policy you’re looking for.

All the financial experts agree that keeping costs down is essential in times of economic uncertainty. Low cost however does not have to mean low quality, many suppliers to landlords from building suppliers to landlords’ insurance brokers have been working hard to provide low cost goods and services for customers. Cutting costs means landlords insurance brokers can pass low cost landlords insurance onto customers.  Low cost suppliers are essential in the current economic climate for many landlords. Rising defaults by tenants is having a dramatic impact on many landlords that rely on the rental income from their property for an income.

The answer for many landlords is to keep a little cash in reserve to help cover potential defaults by tenants. And make sure that all overheads for repairs, insurance and maintenance are purchased at the lowest cost possible. Worried landlords may also wish to consider adding additional insurance cover to their low cost landlords insurance such as rent guarantee insurance and legal protection insurance to cover the cost pursuing defaulting tenants.

New technology means low cost landlords insurance

Investments in technology over the past decade has enabled landlords insurance brokers to dramatically reduce their overheads – many brokers now work exclusively online allowing them to process policies and claims at lower costs than ever before.

Low cost landlords insurance is not low value insurance

Landlords insurance is a highly competitive insurance market, the rise of the internet, comparison sites and online insurance brokers provides landlords with easy access to quotations for landlords insurance at anytime of the day or night. Armed with this knowledge low cost landlord insurance has never been simpler or quicker to find.

Landlord Insurance Online

Buying landlord insurance online can be easier and simpler than contacting and negotiating with landlord insurance brokers over the phone or in person, and, in many cases, you can get a cheaper landlord insurance premium. Remember, you are not just obtaining quotes for landlord insurance online, but can actually buy your landlord insurance online all from your PC at a time that suits you.

Online landlord insurance sites put a lot of power, and savings, into landlords’ hands – and as they say knowledge is power.

Buying Landlord Insurance online is haggle free

As a nation we are often quite reluctant to haggle, and landlord insurance brokers can turn this to their advantage – indeed, many landlords are intimated thinking that it is somehow impolite to ask for discount.

Searching for landlord insurance online keeps a landlord in control. Comparing landlord insurance policy features and premiums online without the pressure of a salescall means you can take the time you need to decide on the right landlord insurance policy for you.

Advantages of searching for landlord insurance online

• Landlord insurance online is haggle free
• Landlord insurance online lets you compare different policies quickly
• Buy the landlord insurance you are looking when it suits you not when insurance brokers are open
• Compare insurance quotes and buy quicker online

Buy Anytime Anyplace Anywhere – The best part about using the web to buy landlord insurance is that, you can buy it anytime you like. It is entirely dependent on your convenience, whether you will buy it while sitting at home, travelling or in the office. Time and place do not make any difference if you are buying landlord insurance online.

Compare Landlord Insurance Online

It is easier for shareholders to claim against directors for negligence and breach of directors’ duties.

The Companies Act extends shareholders’ current rights to sue directors for wrongs done to the company. From October 2007,  shareholders have been able to sue directors for negligence even where the director concerned has not benefited from his negligence.

They will, however, need the court’s permission to do so, and the courts have the power to speedily dismiss unmeritorious claims.

Changes in the law affecting directors’ liability

Companies may, going forward, bring more claims against their directors. The Companies Act 2006 has set out directors’ duties to the company. A director must act in a way which he considers, in good faith, would be most likely to promote the success of the company. In doing so, he must have regard to the following:

• the likely long term consequences of any decision
• the interests of employees
• the need to foster relationships with suppliers, customers and others
• the impact of the company’s operations on the community and environment
• the desirability of the company maintaining a reputation for high standards of business conduct

Compare quotes for directors liability insurance

Imagine the scene; you’re a small back street garage repairing and maintaining  all manner of everyday cars, when in comes a Subaru Impreza STI, just needing a service and an check over. The loving owner has heard how good you are from work and is entrusting his pride and joy to you.

Great! The new apprentice thinks it’s Christmas and begs you to allow him to help with the service. Well, he has been in early all week to help with a backlog of jobs and anyhow, the kid is always keen to help.

Two hours in and the service is completed: the car just needs a road test to check everything is ok. The apprentice jumps at the chance, and after all he is only going around the block – what could happen?

Jumping into the seat, our excited apprentice sets off, you turn to go into the office to make out the customer’s bill, when you hear a loud bang. With the apprentices inexperience in performance car driving, he has just piled into a parked car.

6k in damage. Luckily covered by your motor trade insurance. Motor trade insurance may not protect you from a red face when explaining what happened to the customer’s car, but at least you can rectify the situation without being out of pocket.

You never know, you may even see the funny side one day!

Motor trade insurance keeping motor traders in business

Insurance is something that you buy ‘just in case.’

If you buy insurance, you are paying to protect something of yours, just in case anything goes wrong.

Sometimes bad things can happen to something you own.

Like in a fire or a flood or an accident. Or like something being lost or stolen or hurt.

If you have insurance, you can get money to put things right or to replace what has been lost or damaged.

To have insurance, or ‘cover’, means you pay an amount of money to an insurance company.

You can buy insurance to protect lots of things. But you have to have the right insurance to protect what you have. It is important to buy the insurance you need.

But you must not buy insurance you don’t need. That is just a waste of money and it won’t help you if anything goes wrong. BUYER BEWARE IF YOU HAVE A CRIMINAL CONVICTION, POOR CLAIMS OR CREDIT HISTORY OR HAD ISSUES WITH INSURERS BEFORE

We have all seen the effects of freeze and thaw on road surfaces, with cracks, potholes, sunken drain and manhole covers.  At each successive freeze and thaw water penetrates into cracks and faults, freezes and expands and causes more damage at each phase.  The behaviour of water in the ground around our properties is key whether in winter, spring, summer or autumn.

The Daily Telegraph of 24 February 2010 page 7 reports on a substantial cliff fall at Oddicombe Beach in Torquay, affecting a property called Ridgemont House, which overlooks the beach and sits on top of unstable sandstone cliffs.  Apparently a rock, described as the size of a transit van, fell in the night causing a substantial part of the 300 foot cliff to collapse.  The substantial house, built late 1930s, was sold last year for £123,000 and last week for £154,000.  Elsewhere, such a property may be valued at £1.5 million.  The utilities to the house were cut off 10 years ago following another cliff fall.  The property stands on a fault line, so planning for any demolition and rebuild on the land further from the clifftop may be difficult as sinking the usual foundations may not be allowed.  There may be the possibility of a rebuild using ‘Raft’ method foundations.

It is unlikely that there is any insurance in operation for the owner in such circumstances.

Building insurance policies normally cover damage caused to a property by subsidence, heave or landslip.  If there has been a change of insurer and such damage has been found, any claim may involve the Association of British Insurers’ Domestic Subsidence Claims Handling Agreement,  to which the majority of household insurers subscribe.  This Agreement determines claims handling.  A claim made within eight weeks of changeover is handled by the previous insurer. For eight weeks to one year, the claim is handled by the new insurer with costs shared equally between the new and previous insurer.  At over one year, the new insurer is responsible.

The decision to move from a peaceful steel city to Rothbury, a beautiful rural oasis, had finally been sealed. A cash offer on our home meant we were one step closer to our dream, and within a couple of weeks, we were gazing out of our windows at the magnificent views of the Simonside hills and the sloping banks of the River Coquet.

Practicalities were forgotten; for a few days as we absorbed our new environment until, over a coffee in the village, I heard the mention of ‘flooding’ and the realisation of the implications of living so close the river hit me. Suddenly, the priority was to ensure our new home was protected against such natural disasters, and we endeavoured to gain home insurance.

That is where the nightmare began. Though the Association of British Insurers (ABI) have assured property owners in flood areas with existing insurance cover that their insurer is likely to continue providing cover, What is failing to happen is that those moving into flood affected areas are either being refused insurance altogether, or are being charged inordinate amounts in excesses. Three solid days were spent trying to obtain house flood insurance but to no avail.

Discussion with neighbours confirmed our situation was not unique. By the fourth day, after being informed we were living in the highest risk flood zone, we began to fear the worst: our property was uninsurable. We were devastated.

We shared our major concerns with anyone who would listen; word of mouth is a very strong tool. Out of the blue, we received an email from an insurance broker; Neil Cook, Head of Specialist Risks with Equity and General Insurance Services. I read with disbelief and a huge sense of relief: ‘Dear Dawn, I was asked by UK Flood Barriers to help you get cover. Kindly call me.’ Within days, not only were we given a very reasonable quote with full flood cover (at the sight of a letter confirming flood defences in place on our property), but the policy being offered to us had a nil excess on flood claims. Alleluia! Peace of mind really is priceless, and we cannot thank Mr Cook enough for coming through to us

Now we are relaxing and enjoying our tranquil new home, which is just how it should be! Mrs D Ashby

If like Mrs Ashby, you have a property in a flood risk area and are looking for a competitive quote for home insurance, click here.



80% of commercial buildings are under insured

When it comes to let property insurance for landlords, the devil is in the details. By taking time to carefully consider your needs, however, you can ensure that your landlords insurance does what it’s supposed to: Be your guardian angel.

Under insurance is a common problem in the UK commercial property market, with many landlords simply having no idea of the level of insurance cover they require. The British Insurance Brokers Association issues regular warnings about under insurance, yet few landlords appear to be heeding its advice.

Alistair Steward, risk solutions director at Cunningham Lindsey, which offers a calculation service for British Insurers Brokers’ Association members, says:  “Underinsurance applies to over 80% of the properties we value, with an average amount of underinsurance on commercial buildings around £150,000.”

Property priceshave fallen and if the surveys by the Halifax and the Nationwide are anything to go by, house prices will end this year between 15% and 20% lower than they started – easily the biggest annual slump on record.  With about £30,000 knocked off the selling price of the average house in the past year, why are landlords finding themselves under insured? Well; although property prices have and continued to fall, repair and renovation costs have continued to rise.

The hidden costs of rebuilding covered by landlords insurance

• Clearing the site
• Surveyor costs
• Architect costs
• The cost of building the property to its original state
• Complying with government and local authority requirements

Remember insurers will only pay as much as the building is insured for, so failure to insure for a sufficient amount could result in expensive costs if a claim should arise

Calculating the rebuild cost of a property

The cost of rebuilding the property will not be the same as the market value. Surveyors and insurers have some rules of thumb to help you work out what your property is actually worth, to be absolutely sure you should get a surveyor’s report.

If you are buying a property to let, the lender’s valuation report will also contain a rebuilding cost figure.

Broadly speaking to work out your rebuilding cost, you should know the building dimensions which can be calculated by multiplying the length and width of the property in feet by the number of storeys.

How to calculate rebuild costs

A. Calculate the ground floor area. (ground floor area = Length x Width)

B. Calculate the total floor area. (total floor area = Ground floor area x Number of storeys)

C. Calculate the total rebuilding cost. (Total rebuilding cost = Total floor area x Rebuilding cost per square foot)

The cost per square foot will vary depending on where in the U.K. you live.

You can calculate your re-build cost online, visit the ABI (Association of British Insurers) website by clicking here