Some people may not be aware of the Residential Property Tribunal Service, which is the public body that can decide many Rent and Leasehold disputes. 

RPTS provide a fair, unbiased service that is used by thousands of Landlords, Tenants and Leaseholders every year.

Anyone can browse the ‘Archives’ for LVT’s against Peverel Group companies and a recent case, highlighted the commissions that were earned by Kingsborough Insurance, when arranging buildings insurance on behalf of Peverel Group companies.

The case in question, provided evidence dating back to 2002 and, it was proved that during this time, as the Insurance Premiums increased, as did Kingsborough’s commission.  In the early years, they were taking upto 30% commission, which slowly reduced over the next few years, until it hit 34% in 2008!

Needless to say, that for the 2008-2009 period, the commission dropped substantially to only 24%.

Once again, during the hearing ‘Oval Insurance Broking Ltd’ were mentioned.  A name that were are now all to familiar with, whereby Kingsborough, simply ring them to arrange the insurance cover and then charge ‘Peverel’ an increased premium.

Oval actually confirmed that they were only paid 4% by the insurers, which is what we would class as being a standard value for commission on these type of transactions. However, it demonstrated the greed of Kingsborough to make 34% on the same transaction.

Once again though, the resident in question managed to reduce their premiums by almost 50% when they obtained quotations for themselves.

It is this complaint, that all of us have, yet Peverel deny that there is any wrong doing.  So much for having residents interests at heart.

When will this type of wrong doing stop?

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