Leaseholders Property Insurance.

Descriptions

Stockport Council is seeking bids for Leaseholders' Property insurance in respect of private dwellings sold on a leasehold basis, the majority of these being under the Right to Buy legislation. The dwellings are flats in purpose built blocks and converted houses where the Council still retains the freehold ownership. The lease states that the Council as the Freeholder will arrange the building insurance on behalf of the Leaseholder and recharge the premium accordingly. A small number of houses where the Council has a mortgage interest are included in the policy.The contract will run annually from 1.4.2014 - 31.3.2017, with an option to extend by a further two years (1.4.2017 – 31.3.2019) by mutual agreement between the parties. We are looking to enter into a Long Term Agreement with the appointed insurer which will continue the placement of annual leaseholders' property insurance with the successful bidder for the three-year period stated above.Stockport Council / Stockport Homes retain Gallagher Heath as their sole, full service Insurance Broker. Therefore this tender does not invite any insurance brokers to offer their aligned products from their schemes, any insurers offering terms need to accept Gallagher Heath as the applicable agent in relation to this policy (except where insurers offer a 'deal direct' operating model).