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Last week I appeared on @itvnews w/ @mattpriceITV speaking about troubles some freehold homeowners are facing with service charges they have to pay even though they own their property and the land its built on
As I love you guys on twitter - I dropped a thread for you all too
As I love you guys on twitter - I dropped a thread for you all too
What is the term Fleecehold about?
In recent years there have been more and more freehold property owners that are having to pay service charges or estate fees which has been coined a 'fleecehold' as many may not be aware of these charges or they have been increase w/o warning
In recent years there have been more and more freehold property owners that are having to pay service charges or estate fees which has been coined a 'fleecehold' as many may not be aware of these charges or they have been increase w/o warning
What Are These Charges For?
These fees are sometimes called estate fees and are annual fees generally to pay for the upkeep of the local areas. This can be anything from street light maintenance to cutting grass to cleanliness of a play area
These fees are sometimes called estate fees and are annual fees generally to pay for the upkeep of the local areas. This can be anything from street light maintenance to cutting grass to cleanliness of a play area
Why Do Homeowners Have To Pay?
Local councils budgets are tighter than ever and when developers build these properties local councils may be unable or unwilling to cover these costs. Homeowners now have to pay a private fee for public spaces, paying twice for the same thing
Local councils budgets are tighter than ever and when developers build these properties local councils may be unable or unwilling to cover these costs. Homeowners now have to pay a private fee for public spaces, paying twice for the same thing
Problems running deeper: Freehold vs Leasehold
More and more homeowners have horror stories about paying these fees with maintenance being completed to a poor standard or not at all. There are also reports of these fees increasing with out notice or a real reason as to why
More and more homeowners have horror stories about paying these fees with maintenance being completed to a poor standard or not at all. There are also reports of these fees increasing with out notice or a real reason as to why
Freeholders also do not have access to the same resources that leaseholders do. Leaseholders who pay service charges are protected by legislation while freeholders are the “forgotten group” who do not have access to such channels
Did you know 
What Can Homeowners Do?
The first thing to do is to obtain your Deed of Transfer, you should have got when you first purchased your property. If you don't have it, this can be obtained from land registry for a small fee. This should detail what you should be paying and when
The first thing to do is to obtain your Deed of Transfer, you should have got when you first purchased your property. If you don't have it, this can be obtained from land registry for a small fee. This should detail what you should be paying and when
All property agents should be registered with a government approved property redress scheme - you should be able to file a complaint with them - remember there is strength in numbers so if other homeowners in the estate feel the same group actions are often a lot more efficient
If you would like to follow this story further check out @mattpriceITV story here
Be sure to leave comments below
Be sure to leave comments below
