--- title: "BT1726 Insurance for 19 Shared Ownership Properties" ocid: "ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963.json" source: "Contracts Finder" current_stage: "Tender" buyer: "LUTON COUNCIL" published: "2024-08-20" --- # BT1726 Insurance for 19 Shared Ownership Properties Buyer: LUTON COUNCIL Current stage: Tender OCID: ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963.json) ## Summary Luton Council is seeking a reputable provider for buildings insurance for 19 shared ownership mortgaged properties within the borough of Luton. The procurement, valued at £30,000, falls under the "Financial and insurance services" category (CPV 66000000). This statutory and preventative service requires compliance with the Financial Services and Markets Act 2000 and rules made by the PRA and the FCA. The procurement method is an open procedure (below threshold), and businesses interested need to submit their applications before 30 September 2024. The contract period will commence on 1 April 2025 and conclude on 31 March 2028, with the requirement for the insurer to provide new costings to mortgagees at least three months in advance of the renewal date. This tender presents significant opportunities for insurance companies capable of offering comprehensive buildings insurance cover without accidental damage. Small and medium-sized enterprises (SMEs) as well as voluntary, community and social enterprises (VCSEs) are encouraged to participate. The successful bidder will need to provide a direct debit payment facility, ensuring a straightforward payment process for customers. Securing this contract will allow the winning business to solidify its presence in the public sector and expand its service offerings within the Luton area, potentially leading to further contracts with Luton Council and similar public entities. ## Notice Luton Council require buildings insurance for 19 shared ownership mortgaged properties within the borough of Luton. This a statutory and preventative service and this a standalone requirement. The Council have a requirement to provide a discounted buildings insurance to shared owners which is then recharged to the mortgagee by Council. The key outcome is the building insurer needs to be reputable, must comply with the Financial Services and Markets Act 2000 as well as the rules made by the PRA and the FCA. The mortgagees need to be advised of the new costings giving at least 3 months' notice and the renewal date is 01 April 2025. The Provider must be able to provide: * Buildings insurance cover (accidental damage not required) * Payments facility to pay by direct debit ALL DOCUMENTS ARE AVAILABLE ON THE PROCONTRACT (PROACTIS ETENDERING PORTAL) ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/1379549a-a97d-46b8-8efd-83f783b6048f | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (below threshold) | | Tender suitability | SME, VCSE | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 20 Aug 2024 | | Submission deadline | 30 Sep 2024 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 31 Mar 2025 - 31 Mar 2028 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £30,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | LUTON COUNCIL | | Locality | LUTON | | Post town | Luton | | Postcode | LU1 2BQ | | Country | England | | ITL 1 | TLH East (England) | | ITL 2 | TLH2 Bedfordshire and Hertfordshire | | ITL 3 | TLH21 Luton | | Local authority | Luton | | Electoral ward | Central | | Westminster constituency | Luton South and South Bedfordshire | | Delivery location | TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England) | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services ## Release History - 20 Aug 2024 at 10:54 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/1379549a-a97d-46b8-8efd-83f783b6048f - 20 Aug 2024 at 10:43 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/e113f594-4769-46e7-8157-6098b5b4de79 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/1379549a-a97d-46b8-8efd-83f783b6048f 20th August 2024 - Opportunity notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/e113f594-4769-46e7-8157-6098b5b4de79 20th August 2024 - Opportunity notice on Contracts Finder ## Notice URLs - http://www.luton.gov.uk ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-535efed6-a880-4e79-b9c8-8edeb3d16963.json.