Property Insurance: Leasehold Flats, Shared Ownership and Mortgaged Properties

Concepts

• insurance services
• hackney
• flats
• other flats
• mortgaged properties
• the insurance arrangements
• its property insurance
• the buildings insurance
• shared ownership and mortgaged properties
• leasehold flats

Location

Hackney

Description

The current policy contract expires on 31 March 2023. The London Borough of Hackney invites bids for the provision of its property insurance in respect of private dwellings sold on a leasehold basis, the majority of these were under the Right To Buy (RTB) legislation. In addition, cover is to include mortgaged properties and some shared ownership where the Council has agreed to continue the insurance arrangements.

Total Quantity or Scope

The dwellings can include houses and bungalows but are generally flats in blocks and flats in houses (maisonettes) where the Council retains the freehold ownership and in some case the leases may state that the Council, as the Freeholder, will arrange the buildings insurance on behalf of the Leaseholder and recharge the premium as part of the Service Charge. Other flats in some blocks have not been sold (Council tenanted) and are separately insured so insurance cover for these flats are not required.

Renewal Options

At the discretion of the council, there shall be an option to extend this contract for up to 24 months.

CPV Codes

• 66510000 - Insurance services

Indicators

• Bids should cover the whole contract.
• This is a recurring contract.
• Renewals are available.
• Award on basis of price and quality.