On 14 March, Stephen pressed the government for action to reduce the excessive insurance charges faced by many leaseholders.
Leaseholders often pay their property owner or managing agent to cover building insurance costs. Parliament passed legislation in 2022 to make leasehold buildings safer, including removing unsafe cladding. Many leaseholders are faced with extortionate insurance charges while they wait for the improvements. Some residents in East Ham are having to pay an extra £5,000 on top of last year’s bill.
Stephen raised the issue with Michael Gove, the Secretary of State for Levelling Up, Housing and Communities, in a letter on 13 January. He raised it again with the Secretary of State in Parliament on 30 January. Today, Stephen pressed Michael Gove for an update and a response to his previous communication.
Speaking in Parliament, Stephen said that the Secretary of State “promised additional Financial Conduct Authority and government coordinated action to address [excessive insurance charges]. Can he update us on progress?” In reply, Michael Gove apologised for his failure to respond to Stephen and promised to update the House shortly.