26-S-045 Leaseholder Building Insurance Policy

Reading Borough Council (RBC) wishes to procure a Third-Party Leaseholder Building Insurance Policy for residential properties where the Council retains the freehold interest. The requirement principally relates to leasehold properties sold under the Right to Buy (RTB) scheme, together with a small number of Shared Ownership properties, a mortgaged property and leased garages.

The procurement is required to establish a long-term insurance arrangement to provide appropriate building insurance cover in accordance with the Council's responsibilities as freeholder and the requirements of relevant lease agreements. The contract will support the Council in managing risks associated with its leasehold housing portfolio while ensuring that suitable insurance arrangements are maintained for affected properties.