Buyers beware! Common problems with service charge on freehold properties….

From the BBC website no less – “Paying unexpected costs on new-build homes has been dubbed the next PPI scandal waiting to happen, and has homeowners and MPs alike wanting solutions.

But how safe from the charges are you?

Owners of leasehold properties, for example, are finding out that while a brand new home may look like a dream, it could turn into a nightmare.

They own the leasehold property for a fixed period of time and can also be charged expensive ground rent and other fees which might make their homes difficult to sell in future.

But freeholders, who own their homes and the land they’re built on, aren’t immune from the problem either.

Imagine owning a new home on a new estate – along with the land – but having to pay annual fees anyway. That’s when freehold becomes “fleecehold”, critics say.”

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