Michael Gove MP writes to financial conduct authority on review of buildings insurance for multi occupancy residential properties to make costs fairer for leaseholders

House In The Style Of A Typified Block Development 2022 01 06 06 15 32 Utc

The secretary of state at the DLUHC, Michael Gove MP, has written to the financial conduct authority saying "It is neither fair nor decent that innocent leaseholders should be landed with bills they cannot afford as a result of problems they did not cause.".

Mr Gove was writing in response to initial findings of the FCA's review of the buildings insurance market started following the Grenfell fire tragedy. The FCA had asked for specific regulatory powers covering remuneration so that insurance commission costs can be controlled and Mr Gove has replied that his department will consider "all routes necessary to reduce premiums ...... to ensure leaseholders get the value for money they deserve."

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