Landlords in England and Wales urged to disclose secret insurance commissions, FCA finds £80.7m in 3.75 years, Housing Secretary Gove promises ban.
Landlords in England and Wales are urged to disclose secret commissions received from insurance firms for arranging buildings insurance, leading to higher service charges for residents. The Financial Conduct Authority found £80.7m in commissions over 3.75 years, impacting multi-occupancy building premiums and leaseholder costs. Housing Secretary Michael Gove has promised to ban these commissions.
April 07, 2024
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