In what circumstances is cover required?
Where the lease to a flat or maisonette has:
- Inadequate covenants in respect of rights of support/protection or repair,
- No landlord’s covenant to assume repair/maintenance obligations in respect of the remainder of the building should the landlord or a management company fail to undertake its obligations, or
- No adequate provision that future long leases will be granted in a similar form.
Risks covered: losses arising where there has been damage to the Property and the Property is not fully reinstated as the result of the defective lease.