The article discusses concerns among managing agents regarding new Financial Conduct Authority (FCA) legislation on leasehold buildings insurance. This legislation, aimed at protecting leaseholders, addresses issues like overcharging and secret commissions to managing agents and landlords. The reforms could lead to a surge in historic claims by leaseholders against managing agents for these practices.
The article highlights the potential financial implications for managing agents and includes comments from a leading property litigation lawyer about the scope and impact of these upcoming changes.
For more detailed information, you can read the full article here.
