Flat owners could be paying up to double the best rates for buildings cover, thanks to hidden commission being shared out between brokers and managing agents, reports Jamie ElliottOwners of leasehold flats are paying up to double the market rate for buildings insurance because brokers are paying “kickbacks” to the property agents who manage their homes.In a bid to secure business, some brokers are choosing the insurer that pays the most commission, instead of the company that offers the best value – and then sharing this commission with the managing agent. Continue reading…
Source : theguardian.com
Read more…Now angry leaseholders kick back at the brokers
