Financial Times article highlighting the issue of insurance commissions paid to landlords and their agents

The Financial Times today highlights in an article the issue of insurance commissions paid to landlords and their managing agents, and refers to the recent Canary Riverside Tribunal decision which determined that £1.6M in commissions (incl. IPT) were not payable.

The FT article also refers to New Providence Wharf, another estate on the Isle of Dogs. Following an FT report in 2021 Ballymore, the landlord and managing agent at NPW, stopped taking commissions (which had been in excess of £150k p.a. and now levies a £10k ‘placement fee’.