Leasehold Properties: Building Insurance

Lord Blunkett Excerpts

Thursday 15th June 2023 Lords Chamber

[Lord Evans of Rainow (Con)]

I hope that the noble Baroness heard from my previous answers that that is exactly what the Government intend to do.

[Lord Blunkett (Lab)]

My Lords, will the Minister approach the Association of British Insurers about the problem faced by first-time buyers, particularly in London? Despite the Thames Barrier, insurers are reluctant to provide protection and provision for young people buying houses quite a way from the Thames. This is going to be a major problem as interest rates rise still further.

[Lord Evans of Rainow (Con)]

Yes, we are very happy to engage on that point regarding first-time buyers looking to buy houses in the London area.