Buildings insurance for a flat

[DillyGent]

I am thinking of buying a flat (one of only two) but who would pay the buildings insurance? The person who is selling says that they split the cost with the neighbour upstairs but I thought it was the freeholder's responsibility. Can anyone shed any light before I go any further with this please. TIA.

[redcrx]

im in a block of 5 flats and we split the cost too so Id say the neighbour is right.

If the freeholder pays it then they will add it to your maintainance bill no doubt so you may be better to shop around for cover yourselves at a lower rate

[dundurn]

Major issue in case like this is how does everybody (including the freeholder) ensure that someone is taking out insurance, the cover is adequate and the premiums are up to date etc. If you have a mortgage, almost certainly the lender is going to want proof that their security (i.e. the building) is covered. Sometimes it's easier to go with the freeholder organising the insurance. That way at least you know it's done and you're not wrangling with your neighbours over whether or not they are paying their fair share. Whichever routre you take insist on getting proof of cover from the insurance company.