Freeholders and managing agents face class action over insurance commissions

Freeholders (and managing agents such as Rendall and Rittner) face ”an existential legal onslaught” as lawyers launch a class action over hidden buildings insurance commissions which leaseholders have unknowingly been paying for years. Some freeholders and agents such as Rendall and Rittner have allegedly used captive company schemes to (in effect) hide commission.

LKP report that the initiative has been launched by City solicitor (and LKP trustee) Liam Spender, who has been successfully challenging insurance costs and other service charges in multiple actions at the development where he lives (Saint David’s Square in London’s Docklands). He has been backed by his law firm Velitor, which has secured multimillion pound funding for the no win no fee claims from Balance Legal Capital LLP.

Leaseholders can read more and sign up at this website:

https://www.leaseholderaction.com