| article about sevrice charges on Leasehold flats 14:37 - Mar 14 with 676 views | giant_stow |
£646 per month for a two bed in dalston?! Who can afford that? This is completely mental:
https://www.bbc.co.uk/news/articles/ckkvkv32e1ro
No one should be buying these flats until this is sorted - the house-building / running industry stinks.
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| article about sevrice charges on Leasehold flats on 15:42 - Mar 14 with 540 views | DJR |
The potential problems with leasehold is the reason I stayed well clear but I was lucky because I bought in London in the 1980s when it was possible to buy one or two bedroom freehold houses. |  | | |
| article about sevrice charges on Leasehold flats on 16:01 - Mar 14 with 507 views | xrayspecs |
There are a generation of homeowners who have only ever known ultra low interest rates.
In the 1990s, we had 10%+ mortgage rates, if you were able to get a long term deal at less than 6% then that would have been as good as it gets. The mortgage rates limited how much you could afford to borrow and what you could afford to pay for a property.
Over recent years, I have seen work colleagues max out what they can borrow to buy far more expensive properties than we could afford at a similar age, assuming that mortgage rates of 2-3% are normal. As we are seeing, the era of cheap money has come to an end and it has left folk over-extended.
While I have sympathy with the subject of the story, purchasing 60% of a property in trendy (expensive) Dalston when interest rates are at an all time low my not have been a sensible decision, leaving aside the big increases in the service charge. |  | | |
| article about sevrice charges on Leasehold flats on 18:22 - Mar 14 with 376 views | davblue |
My experience of these “service” charges, was really poor about 15 years ago. They never done anything that I asked them to do, getting in SKY in the building was something they never responded to. Out pipes when it was really cold kept freezing when we have a really cold spell for 3 weeks we had to move out because we had no water. We were paying £1800 a year then got
Bills for other work randomly.
In the end my mrs got the people in the flats together to transfer it over to another management company and got the yearly fees down to £600. We sold the flat not Long after but the new management company sorted out the pipes and Sky tv for all within 3 months.
The big companies I’ve experienced are dreadful. |  | | |
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