I have recently moved into my home which has a factor involved. This is my first home and naively didn’t realise how much of a bother they can be. Title deed states we all need to have a shared insurance policy as well as a factor.
There is a mixture of flats and houses. 2 semi detached houses and the rest flats. I am paying around £65p/m for building insurance only. I also paid a £250 float when I first moved in. Does this sound reasonable? I have looked up quotes for what my own building and contents insurance would be and getting quotes of around £260 per year. I share one wall with another flat as I am semi detached. I have my own entrance to the home. Nothing else is shared building wise.
On top of this I have received more bills recently of maintenance work that other owners want carried out. One of the neighbours is not paying their normal fees it so apparently it is up to us to pay for their share of all this also. If the majority don’t object to works then we just get stuck with the bill regardless?
Does anyone know of any options I may have or what they would do in this situation? Feel a bit stuck. I don’t understand why as a house I have to pay the same building insurance as the flats not attached to me. Cheers |