Broker Insights – How NACFB Members Solve the Problems That Banks Won’t Touch

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Property118

Broker Insights – How NACFB Members Solve the Problems That Banks Won’t Touch

High street banks prefer straightforward lending – single buy to let properties, long leases, and simple borrower profiles. But the reality for many landlords is far more complex. HMOs, short leases, mixed-use properties, and portfolio restructuring often fall outside mainstream criteria. This is where NACFB brokers add real value, solving problems that banks won’t touch.

Where Banks Say No

Banks typically decline cases that involve:

• HMOs or multi-unit blocks that require more specialist underwriting.
• Semi-commercial or mixed-use properties.
• Short leases or unusual titles.
• Corporate structures such as LLPs or FICs without long trading histories.
• Borrowers with irregular income streams or complex tax arrangements.

How NACFB Brokers Approach These Cases

Instead of trying to fit landlords into rigid criteria, NACFB brokers package applications to highlight strengths and mitigate risks. Their approach includes:

• Identifying lenders with specialist appetite for non-standard assets.
• Presenting professional schedules of assets, income, and liabilities.
• Negotiating covenants and terms that reflect portfolio-level performance.
• Highlighting landlord track records and experience to reassure lenders.

Practical Case Studies

• An HMO landlord declined by a high street bank secures funding through a specialist lender introduced by an NACFB broker, enabling expansion.
• A landlord with short-lease properties obtains refinancing after a broker identifies a lender comfortable with complex title issues.
• A family partnership transitions into a company structure, funded by a commercial lender willing to support restructuring plans.

The Broker’s Edge

NACFB brokers have access to a far wider panel of lenders than individual landlords could reach alone. More importantly, they know how to present applications to address lender concerns head-on. This not only increases approval chances but often results in more competitive terms than landlords could secure directly.

Why This Matters for Landlords

In today’s market, where lenders are cautious and criteria are tightening, creative solutions are essential. NACFB brokers act as problem-solvers, matching complex landlord needs with the right lenders. Their insights and relationships make them invaluable partners for landlords navigating commercial finance.

Conclusion and Takeaway

Banks may avoid complexity, but that does not mean landlords are out of options. NACFB brokers thrive on solving the very challenges that mainstream lenders reject. For landlords, this means more choice, more flexibility, and more opportunity to move forward with confidence.

Next Steps

If you would like to explore how an NACFB broker could solve your finance challenges, please complete the short form below and a consultant will be in touch.

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Published: 14 January 2026

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Landlord declares “I’m out” “Never again will I be letting another property in the UK” as others follow suit

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Property118

Landlord declares “I’m out” “Never again will I be letting another property in the UK” as others follow suit

As we entered boldly into 2026, many landlords started the year with a clear message about the state of the sector. The government’s newly published civil penalty tables, which showed fines of up to £35,000 for breaches under the Renters’ Rights Act 2025 was just the tip of the iceberg in a nationwide “crackdown” on landlords.

The fact of the matter is, the regulatory environment has changed, and whilst our end of 2025 mission was to try and deliver more positive news to landlords, there comes a time when we have to be frank and honest about the state of the current climate.

Enforcement has become sharper, faster and more financially damaging. A simple oversight that once might have resulted in a warning can now produce a penalty larger than a year’s rental income. In the most serious cases, councils can apply for a banning order that prevents a landlord from letting or managing any property at all.

These risks are not theoretical. They are written into government guidance and will be used by councils in determining penalties. A missed licence renewal, a possession notice served on the wrong ground or a documentation error can now escalate into a £12,000 fine, a £25,000 penalty or a £30,000 claim relating to possession misuse. For some landlords, a single mistake could wipe out an entire year’s profit or trigger a forced sale under pressure.

It’s why more landlords than ever before are making the choice to sell, before enforcement activity reaches them.

If you’re an avid reader of Property118, no doubt you saw the comments of Mark Alexander, an incredibly well known and respected landlord of over 20 years who shared his thoughts, stating “I wish I could be more positive, but the news is what it is and I cannot change the facts or put any gloss on the situation this time,” he went on to say “As they would say on Dragons Den; and for those reasons, I’m out!” Never again will I be letting another property in the UK.”

His sentiments, and those of the landlords who joined in following the comments, reflect a wider trend we’ve been seeing at Landlord Sales Agency for landlords contacting us to get out of the sector, and it’ll pay to act fast.

At Landlord Sales Agency, we specialise in fast, efficient sales that achieve strong prices driven up by bidding wars. Working with over 30,000 active buyers, portfolio investors and cash purchasers who are ready to proceed, many sellers receive serious offers within days. Our maximum average time to sell is just 28 days.

The process is straightforward, confidential and designed to protect the landlord’s financial position. For some landlords, their decision to get out is one of risk management, for others, it’s the final push they needed towards an end goal they’d already been planning for retirement. Ultimately, it all comes down to control, and selling ensures you’re calling the shots, not the council.

With just 4 months to go until the Renters’ Rights Act becomes fully operational, the time to act is now. Sell, while the choice is still yours, or hold on and risk it all.

For the most entrepreneurial landlords, that choice is obvious. It’s time to get out.

So if you’re a landlord who wants to explore a fast and safe exit, contact us at Landlord Sales Agency using the form below for a confidential discussion, and let’s get you the highest price for your properties. 

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When will landlord rights be finally recognised?

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Property118

When will landlord rights be finally recognised?

Well, colour me shocked but the Guardian newspaper has managed to impress me. Sort of. It published an interesting article, called ‘Are UK buy-to-let landlords dying out – and should we care?’ and it takes a fair and balanced view of what’s happening in the PRS.

The comments were turned off, naturally, but it highlights the issues that landlords face with tighter regulations and higher taxes which have already led to ‘tens of thousands’ of rented homes disappearing from the market.

Yes, the Bible of the Left has interviewed landlords and explained what the issues in the sector are. The overheads, increasing tax burdens and an acknowledgement that being a landlord isn’t as lucrative as it once was.

There are 170 regulations that landlords must abide by, and the newspaper gives a tacit nod to the potential impact that the EPC debacle will deliver to the country’s ageing housing stock to make rents more expensive and lead to more homes leaving the PRS.

Tenants’ union is wrong

The fact that the story came out a week after news that a new national tenants union is being launched did not pass me by.

Relying on the old trope that every landlord is a bad landlord, the Social Housing Action Campaign (SHAC) says it wants to ‘reshape the landscape’.

To what exactly? More landlords selling up? More landlords being punished with fines so large they are bankrupted?

The housing crisis is one of affordability, they say, and high rents are the reason. There’s never any joining of the dots is there? None of these people ever considers why rents are going up.

More landlord licences, more financial obligations and the result will always be an increase in rent. Crikey, even the Guardian article highlights that most landlords barely make a profit.

So, it looks like we will have yet more mouthy, know-nothing busy bodies offering solutions to problems that either don’t exist or aren’t the fault of landlords.

The only silver lining here is the intention of the union to tackle poor council and social housing. Let’s see how this pans out when the penny drops that councils, who will be the gatekeepers to improved housing conditions and enforcers of those bankrupting fines, are delivering even worse conditions.

But no one gets to fine them or turn up unannounced for an ‘inspection’.

Fixing the housing crisis

I no longer read these stories and declarations with a shake of the head, because beneath the righteous rhetoric lies an inconvenient truth that many in the housing debate still refuse to acknowledge – you cannot fix our housing crisis by hounding the very people who supply the homes that millions depend on.

In reality, if you push landlords out of the market, there will be fewer properties, higher rents, tougher tenant screening, and even less affordable housing for exactly the people the union claims to champion.

Almost every week brings another story of landlords exiting the PRS, not because they want to, but because their margins have been squeezed to the bone.

Combine that with Renters’ Rights Act which fundamentally changes tenancies and possession rights, and the sector is already being challenged, if not fundamentally reshaped.

Yet tenants’ unions and housing campaigners are blissfully unaware of the situation landlords are facing.

Unfortunately, policymakers seem intent on doubling down on policies that have already done more harm to the private rented sector than almost anything else.

The decades-long decline in rental stock has not been caused by landlords’ greed. It was exacerbated by regulatory uncertainty, punitive tax rises and a failure to address underlying supply issues.

Understanding PRS dynamics

Perhaps this year will see a change of opinion when renters and campaigners finally understand the market dynamics that sustain their homes. Landlords are not a charity. You cannot legislate investment or the building of new homes into existence.

Let’s see what happens should landlords continue to exit en masse, rent controls be introduced and supply collapse further because the tenor of public debate will be very different.

It won’t be calls for more rights for tenants, it will be pleas for some rental properties at all.

And at that point, the tenants’ union may discover that socialism, in practice, tends to disappoint its supporters – particularly when it collides with the hard realities of supply economics.

That will also mean that the rights of landlords to offer a quality, safe home will be appreciated.

The narrative that landlords are the enemies of housing affordability is simplistic and, increasingly, demonstrably wrong.

Something has changed

That message from The Guardian, a paper not known for defending the PRS, should signal that something fundamental is shifting.

So yes, tenants deserve fairness and safe housing, and all decent landlords will agree.

But fairness isn’t achieved by draining this market of its suppliers.

The solution isn’t more action against landlords. It’s having a smarter policy that invites investment instead of penalising it, creates incentives for people to buy and rent out properties, cut back punitive tax and regulatory overreach, and watch as the supply increases and rents ease. That’s basic economics, isn’t it?

Until we see that, we’re simply rearranging the deck chairs on a sinking ship, and when the water gets higher, tenants will learn the hard way that you can’t build a functional housing market by burning its builders.

Until next time,

The Landlord Crusader

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Government updates Tenant Fees Act for landlords

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Government updates Tenant Fees Act for landlords

The government has quietly updated its official guidance on what landlords and letting agents can charge during a tenancy, adding new detail on how council tax and TV licence payments should be handled.

Changes have been made to the ‘Fees you can charge as part of a tenancy‘ section of the guidance for landlords and agents, which sits under the broader advice on renting out a property.

The update focuses on utilities and household bills, an area that has continued to generate confusion years after the Tenant Fees Act came into force.

Council tax and TV licence payments

Officials have now added specific wording to explain that council tax and TV licence payments fall under separate rules from other utilities.

The clarification is designed to help landlords and agents distinguish between permitted charges and costs that must remain the tenant’s responsibility.

The revised guidance states that while tenants can be required to pay council tax where it applies, the liability depends on the type of property and who occupies it.

This can vary between single lets, HMOs and properties where the landlord retains responsibility under local authority rules.

Tenants must have a TV licence

TV licence payments have also been singled out, with the guidance underlining that tenants are responsible for holding a valid licence if they watch or stream live television or use BBC iPlayer.

Landlords, however, may remain liable in certain shared accommodation scenarios, depending on how the tenancy is structured.

The update does not change the law itself, but it does signal a renewed effort by the government to tighten up interpretation of the Tenant Fees Act.

Enforcement bodies have previously warned that misunderstandings around permitted payments continue to expose landlords and agents to financial penalties.

The amended guidance is now live on the UK government website and applies to landlords and letting agents operating in England.

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Freeholder refuses to replace damaged door?

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Freeholder refuses to replace damaged door?

I have two leasehold flats in a block of 4 converted flats, the freeholder owns the other two. The police attended one of his flats to arrest the tenant, but the police decided to kick the main front door in to gain access.

They sent someone out to board it up, and no one could get in or out of the flats, so one of the tenants removed the boarding so they could access the building.

The police said speak to the landlord. However, he is refusing to replace the door, saying it is not his responsibility, but the lease states he is responsible for the common areas.

What is our recourse to ensure the door is replaced? The freeholder does no maintenance, and I doubt the block is insured as per the lease, as he refuses to provide any certificate of insurance.

Thanks,

DG

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What does AI really mean for the letting industry? Q&A with Sam Humphreys, Head of M&A at Dwelly

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What does AI really mean for the letting industry? Q&A with Sam Humphreys, Head of M&A at Dwelly

What does AI really mean for the letting industry, and why are we seeing such a surge of interest in AI tools across the property sector?

AI is ultimately about removing friction, improving service, and making the industry more efficient. The technology has moved far enough that we can now run processes that were traditionally slow, manual and offline through intelligent systems that work instantly and consistently. Tools like ChatGPT have accelerated expectations, and we are now seeing that same underlying technology being applied to very practical problems in lettings.

For example, Dwelly’s AI has already reduced the average maintenance resolution time by around a third, and we are aiming for a reduction closer to seventy percent as adoption scales. The wider industry, however, is still at the very beginning. Most letting agents only use AI casually, such as drafting emails, but this barely scratches the surface. To deliver real operational benefits you need deeper integration, proper engineering and a joined-up approach, which most agencies simply do not have in-house.

What are the most practical ways AI can already be used in a letting agency today?

Where AI makes the biggest immediate difference is in reducing manual workload across the entire management journey. That includes everything from applicant handling to maintenance triage, contractor coordination and rent-related processes.

When used properly, AI removes the delays that often sit between tenants, landlords, agents and suppliers. It ensures information is gathered consistently, routes tasks correctly, and keeps everyone updated without the long gaps that cause frustration. The result is smoother operations and, ultimately, better financial outcomes for all parties involved.

How does Dwelly use AI?

We use AI in two core areas: Tenant Find and Maintenance.

On the Tenant Find side, applicants can interact with our AI 24 hours a day, ask questions, book viewings and even submit offers. The system then scores applications against the landlord’s criteria and highlights the strongest matches. It speeds up the entire process and ensures no enquiry is missed simply because it arrived outside office hours.

For Maintenance, AI logs, summarises and prioritises issues the moment they arise. It provides clear information for contractors, follows up automatically and keeps tenants and landlords in the loop. This is where we have seen the thirty-three percent reduction in average resolution times. Speed really matters because unresolved issues are one of the main reasons tenants give notice earlier than planned. AI is tireless: it nudges, reminds and escalates at the right moments, which is something even the best human teams struggle to do consistently.

Click Here for Acquisitions, software, and succession planning for UK lettings agents

How difficult is it to start using AI for an average agent?

The good news is that it has very little to do with technical expertise. We have seen no link between someone’s age, background or traditional “tech skills” and their ability to use AI effectively. The people who adapt fastest tend to be the ones who look for opportunities, experiment, ask good questions and want to improve how they work.

AI should not be seen as replacing agents but as freeing them from repetitive admin so they can focus on what they are genuinely good at: building relationships, supporting landlords, strengthening contractor networks, and growing the business. The value of AI is in elevating people, not sidelining them.

Are there any risks associated with the usage of AI?

Every letting agency already deals with sensitive data, and that responsibility does not change with AI. GDPR still applies, and the UK’s AI principles emphasise safety, transparency and accountability. The biggest risk comes when teams use consumer tools for professional tasks without understanding where the data is going or how it is stored.

When implemented correctly, AI actually reduces risk because it eliminates many of the human errors that cause disputes, delays or compliance issues. It also ensures that decisions are documented, consistent and auditable. Used properly, AI strengthens the customer experience and improves reliability rather than undermining it.

Is the road worth travelling?

Absolutely. The lettings industry is going through a structural shift, and the agencies that embrace automation will be the ones that grow. Those that do not will struggle to keep pace with rising expectations from landlords and tenants, and many will ultimately be absorbed by larger, more tech-driven operators.

AI is not a trend. It is the next stage of operational efficiency in lettings, and the sooner an agency starts the journey, the stronger its position will be.

Dwelly is for independent lettings agency owners who want to exit smoothly, profitably, and on their terms

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A Tale of Two Applications – Why One Got Rejected and the Other Approved

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Property118

A Tale of Two Applications – Why One Got Rejected and the Other Approved

On the surface, two landlords submitted similar applications for commercial finance. Yet one was rejected outright while the other sailed through to approval. What made the difference? This case study highlights the importance of preparation, presentation, and broker expertise in determining outcomes.

Case 1 – The Rejected Application

A landlord applied directly to a lender for a £1.5m refinance across multiple HMOs. The application lacked a detailed property schedule, omitted up-to-date tenancy agreements, and failed to evidence maintenance costs accurately. The lender quickly lost confidence, citing incomplete information and concerns over cash flow. The application was rejected, leaving the landlord to scramble for alternatives under time pressure.

Case 2 – The Approved Application

Another landlord, seeking similar funding, worked with an NACFB broker. The broker packaged the application professionally, including:

• A full portfolio schedule with rental income, liabilities, and valuation evidence.
• Business accounts and tax returns presented clearly to demonstrate sustainability.
• A liquidity plan showing cash reserves and buffers against rate rises.
• A clear exit strategy aligned with the lender’s appetite.

The lender approved the facility swiftly, citing the strength of presentation and the borrower’s demonstrated professionalism.

Lessons for Landlords

• Preparation matters – incomplete or inaccurate documentation is a common cause of rejection.
• Professional packaging adds credibility – lenders prefer applicants who demonstrate a clear understanding of their own finances.
• Broker relationships count – NACFB brokers know what lenders want to see and how to present cases effectively.

Why This Matters

The difference between rejection and approval was not the properties or the landlords themselves – it was the quality of the application. In commercial finance, presentation and detail are just as important as the underlying numbers.

The Role of NACFB Brokers

NACFB brokers act as translators between landlords and lenders. They ensure that applications are complete, credible, and aligned with lender expectations. Their involvement can mean the difference between success and failure, particularly in complex cases.

Conclusion and Takeaway

Two similar applications, two very different outcomes. The lesson for landlords is clear: preparation, presentation, and professional support determine whether finance is approved or rejected. With an NACFB broker, landlords dramatically improve their chances of success.

Next Steps

If you would like to maximise your chances of approval on your next application, please complete the short form below and an NACFB member broker will be in touch.

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Published: 7 January 2026

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Punish the landlord victim?

admin    Uncategorized     agents

Property118

Punish the landlord victim?

Hi, my flat was ransacked by the tenant or a third party introduced by the tenant, and the electric meter was damaged. It will cost £6,000 -£8,000 to make a full repair.

The council made an Emergency Prohibition Order under S43 Housing Act 2004. Fair enough. They now want me, the landlord, to pay them £523.58 “expenses” because my flat was damaged; not the tenant, not any third party, but me, the victim in all of this, should pay them.

There is only a right of appeal against the Order, but none against the “expenses” order.

Has anyone out there had to deal with such a claim, and is the Local Government Ombudsman a possible recourse, or just another waste of space?

Thanks for your attention to this matter.

David

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Small landlords will be forced out of PRS and replaced by money-motivated landlords

admin    Uncategorized     agents

Property118

Small landlords will be forced out of PRS and replaced by money-motivated landlords

Small landlords who care about their tenants will sell up in 2026 and be replaced by “money-motivated landlords” due to new regulations, claims legal experts.

The Daily Telegraph reports mounting regulations, such as the Renters’ Rights Act, will see small landlords exit due to high costs and increased council powers.

Under the Renters’ Rights Act, councils have the power to fine landlords up to £40,000.

Smaller landlords will leave the market

Phil Turtle, compliance director from Landlord Licensing & Defence told The Telegraph: “Small landlords will inevitably be the first to sell up, worsening supply levels.

“What is already happening inevitably is that the older-style landlords who really cared about their tenants and providing decent homes for them will leave.

“New money-motivated landlords will replace them, but the focus will be on picking up properties cheap from distressed existing landlords and maximising profits.”

Mr Turtle warns that increased council powers will make it unprofitable for smaller landlords to remain in the market.

He said to The Telegraph: “Smaller landlords are going to quit the market. There are so many extra punitive fining opportunities under the Renters’ Rights Act for the councils’ money-making machine.

“Anyone with their pension tied up in property can only see the councils taking it away through massive fines for the most simple of mistakes.

“Now any slip-up on a tenancy agreement or the pre-tenancy paperwork is going to cost a minimum of £4,000 fine with, just like speeding, no leeway or compassion available from power-crazed councils enforcement officers.”

Paul Shamplina, founder and manager of legal firm Landlord Action, adds: “Self-managed landlords are more vulnerable to these penalties.

“More landlords will need to hire a letting agent, further eating away at profits.”

Good landlords have nothing to fear

However, the government claim the reforms will help landlords and tenants.

A spokesman for the Ministry of Housing, Communities and Local Government told The Telegraph: “Good landlords have nothing to fear from our Renters’ Rights Act

“Our landmark legislation will level the playing field by giving renters greater security in their homes, while landlords will benefit from a simpler tenancy system and stronger powers to take swift action against anti-social behaviour.”

However, as previously reported by Property118, industry experts have warned the Renters’ Rights Act will cause an “inevitable influx” of court cases, putting pressure on the courts.

Under the Renters’ Rights Act, Section 21 will be abolished, meaning landlords will need to rely on specific grounds for possession using Section 8 notices.

A spokesperson for the NRLA told Property118: “Wait times within the court system have become chronically over-extended over recent years, long before the government announced implementation dates for the Renters’ Rights Act.

“We expect that the introduction of the Act will lead to substantial, additional, increases in court wait times as a consequence of the removal of the accelerated procedure and increased complexity.

“As a result, we continue to urge the government to announce how they intend to reform the process ahead of the inevitable influx of cases into the court system. Without a coherent solution to this problem, there is a huge risk that the issues around court wait times will only be compounded by a lack of action”.

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Underinsurance and the Average Clause – Avoiding Reduced Payouts

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Property118

Underinsurance and the Average Clause – Avoiding Reduced Payouts

Underinsurance is one of the most expensive mistakes a landlord can make. If your sum insured is too low, insurers can apply the average clause and reduce any claim in the same proportion that you are underinsured. The reduction can hit every part of the claim – buildings repairs, contents, and sometimes loss of rent – turning a manageable incident into a major capital hit. This article explains how average works, where landlords go wrong, and how to set accurate sums insured so claims pay in full.

What Is Underinsurance?

Underinsurance occurs when the amount you insure (the sum insured) is less than the true value the policy requires. For landlords, this usually means the rebuild cost of the property (not the market value), including professional fees and debris removal, or the replacement cost of landlord contents.

How the Average Clause Reduces Your Claim

Most landlord policies contain an average clause. If you are, say, 25% underinsured, your payout can be cut by 25% on any claim – not just total losses.

Example (buildings):

• True rebuild cost: £300,000
• Sum insured on policy: £225,000 (i.e. 75% of the true figure)
• Escape of water claim value: £40,000
• Average applied: insurer pays 75% of £40,000 = £30,000 (before excess)

That missing £10,000 comes out of your pocket. If the same proportional reduction is applied to loss of rent linked to the buildings sum, your income cover may also be trimmed.

Rebuild Cost vs Market Value – Not the Same Thing

Market value reflects land, location and demand. Insurers need the cost to rebuild the structure to current standards: materials, labour, professional fees (architects, engineers, surveyors), debris removal, plus any code-compliance upgrades (e.g. HMO fire doors, emergency lighting). In London or prime areas, the market value may be far higher than rebuild; in other regions, rebuild can be surprisingly close. Always insure for rebuild, not sale price.

What to Include in a Buildings Sum Insured

• Full rebuild cost of the dwelling to an equivalent specification.
• Professional fees – architects, engineers, surveyors, planning fees.
• Debris removal and site clearance.
• Outbuildings, walls, gates, fences, drives and paths if the policy requires them within the sum insured.
• HMO upgrades – fire doors, alarm systems, emergency lighting where installed.
• VAT if you are not VAT-registered and would have to pay VAT on rebuild works.

Check your policy: some include professional fees and debris removal within the buildings sum insured; others add separate limits. Either way, make sure the overall allowance is adequate.

Contents and Landlord’s Fixtures

For furnished lets, set a realistic landlord contents sum insured covering furniture, appliances, curtains/blinds and floor coverings you own. Avoid relying on a token limit (e.g. £5,000) if you’ve installed quality furnishings. Remember that tenants’ possessions are not covered by your policy.

Loss of Rent – Amount and Duration

Loss of rent is usually limited by time (12, 18 or 24 months) and sometimes by a monetary cap. Two frequent problems:

• Too short a period – complex reinstatement (fires, subsidence, listed buildings) can exceed 12 months. Consider 18–24 months.
• Linked to buildings underinsurance – if your policy measures loss of rent as a percentage of the buildings sum or applies average across sections, underinsurance can reduce income cover too.

Day One Reinstatement and Declaration-Linked Cover

Two features that help protect against underinsurance:

• Day One Reinstatement – you declare today’s rebuild value (the declared value), and the policy adds an automatic uplift (often 15–50%) to absorb cost inflation between policy start and a potential claim. You must still get the declared value right.
• Declaration-linked (adjustable) policies – common on portfolios; you declare values annually and the insurer applies an uplift and/or adjustment at year end. Again, the starting figures must be sound.

Index linking helps mid-term, but it does not fix an initially wrong declared value. Garbage in, garbage out.

How Landlords Commonly Underinsure

• Using the purchase price or mortgage valuation instead of rebuild cost.
• Forgetting professional fees and debris removal.
• Ignoring extensions, loft conversions and HMO upgrades completed since the last review.
• Not including outbuildings, boundary walls and hard landscaping where required.
• Setting a 12-month loss-of-rent limit for properties that would realistically take longer to reinstate.
• Assuming the freeholder’s block policy makes you safe when you still have landlord contents and loss of rent exposures within your demised areas.

Leasehold and Blocks – Who Insures What?

In flats, the freeholder (or RMC) often insures the building. You still need cover for landlord contents, loss of rent (if your lease allows you to insure it), and liability. Ask for a copy of the block policy and check sums insured, perils (including escape of water) and excesses. If the block is underinsured, you carry indirect risk through delays and shortfalls.

Waiver of Average – Rare but Valuable

Some specialist insurers offer a waiver of average or a limited tolerance (e.g. no average if within 10–15% of the correct value). It’s not universal and usually comes with conditions (professional valuation, Day One wording). If available, it provides a safety net but is not an excuse to lowball sums insured.

Worked Example – Getting the Number Right

Two-storey semi, extended kitchen, HMO upgrades (fire doors/alarms).

• Base rebuild estimate (current rates): £240,000
• Professional fees (10%): £24,000
• Debris removal/site clearance (7%): £16,800
• Outbuildings/boundaries/hardstanding: £9,200
• Total declared value: £290,000
• Day One uplift (25%): policy limit effectively ~£362,500

If you had insured at £220,000 “to save premium”, you’d be ~24% light at inception, and average would bite on every claim.

Practical Checklist to Avoid Underinsurance

• Get a rebuild assessment – commission a professional valuation or use a recognised calculator and sanity-check unusual features (listed status, basements, high-spec kitchens).
• Add fees and debris removal – ensure your allowance matches your policy structure.
• Include VAT if you are not VAT-registered.
• Review after works – extensions, lofts, conversions and compliance upgrades all increase rebuild cost.
• Use Day One with an appropriate uplift (often 25–35% on portfolios).
• Right-size loss of rent – set both monthly amount (your actual rent) and duration (consider 18–24 months for complex risks).
• Portfolio housekeeping – maintain a property schedule listing declared values, contents limits, loss-of-rent months, excesses and special features.
• Ask about waiver of average – if your insurer offers it, understand the conditions (e.g. professional valuation within 3 years).

Final Thoughts

Average is not a technicality; it’s a powerful clause that can strip thousands from a valid claim. The cure is straightforward: set accurate sums insured, use Day One where appropriate, and review values after any works. Treat these steps as part of your risk management, just like inspections and certificates. When a claim happens, you want the policy to pay in full – not 75%.

Request your quote or call-back

The most efficient way to get a personal quote with the best price and cover possible is to call the team on 01832 770965 so we can focus on your enquiry when you are ready and sitting down with your portfolio details to hand.

Alternatively, you can use the form below to request one of our team to give you a call back.

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Publication date: Tuesday 6 January 2026

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