Why Is My Leasehold Service Charge Sky Rocketing | Leasehold flat service charges
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- เผยแพร่เมื่อ 3 พ.ย. 2019
- If you own a leasehold property you may be concerned about ever increasing leasehold property service charge increases. This video contains useful advice for owners of UK leasehold flats.
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That was pretty short and not exhaustive.
Because Freeholders get kick back!
The problem with leasehold charges isn't that you can create them. It confirms the value. The problem is that they actually collect the money which wasnt the point of the original system.
Pensioners also need help in retirement flats.
Just to clarify, if 50% of the leaseholders decide to change management for a building, can we now in 2022 do so without any fightback from the freeholder? Say the building has 10 units (1 shop and 9 residential flats), if we get 6 flats saying service charge is too much and want to change management, can we change it? That would be useful leverage against management who overspend and get kickbacks from overpriced cleaning, pest control etc.
I have uncovered the fact that the property company who has been issuing me with annual service/gr charges via their MA (same guys) has no legal interest in our flat/lease. I have also uncovered the fact that this is the case all over the estate that my 2 flats are located in. I have all the written evidence to prove this including a bogus stamp duty reference number in my name and the sellers name. Please advise.
Get some lawyers and get your money back
It's because these management companies, in particular Savills ( a particularly nasty, unethical company) can exploit the lax law around this area and it's not just wealthy people in London.
My own flat service charges ( in Newhaus, Newport, Wales) have doubled in 6 years making the property practically unsellable and having to resort to webuyanyhome to sell for 75% of its value and well below what I paid.
Lesson is, never buy any flat which incurs service charges.
Its not just London!!! Let the guy talk!!! Rubbish host.