Leaseholders in Peterborough can't sell their homes! 

What the hell, £445.40 PER MONTH service charge?

Greed, pure and simple.

Outrageous, my mortgage is less than their service charge 😮

challenge your service charges at the Property Tribunal based in Cambridge. £100 application fee plus £200 hearing fee

Absolute robbery

I lived in Switzerland where there was no concept of leasehold. We had 8 flats in our block, all managed by our own collective. UK supports the parasitic classes and their unearned income, milking the poor.

Same thing happening in Florida. Loads of condo owners getting priced out of the apartments they bought. It's a worldwide problem.

Don't buy leasehold

Yes , but the Leasehold and Freehold Reform Bill was just passed by both Houses on Friday ( 24/05/2024 ) , and just awaiting Royal Assent ; legal and while it is not a Silver Bullet , it greatly improves the legal rights of Long Leaseholders .

One word, criminal. I feel for these people.

I seen an awesome apartment that I really wanted to buy this year, it was perfect. Service charge was £230pm which was a no brainer not to buy, it's a lifetime mortgage and it only goes one way.

So much for this useless Tory government promising to reform the unfair and greedy leasehold situation.

How is this legal? They are obviously being scammed. Disgusting.

Those flat roofs would have put me off. I think they usually leak.

Do not buy leasehold, just don’t. It’s a uniquely British system set up to enrich the intermediaries who provide no/little service like the freeholder and the managing agents (typically linked to the freeholder). The legal protections (tribunals etc.) are archaic, set up to favour the freeholder and lump most of the legal costs on to the leaseholder. Things are a tiny bit better than they used to be a few years ago but there’s a long way to go. Remember, nothing is going to change soon as the vast majority of freeholders in our country are wealthy generational landowners who have a lot more power to stop change than the average first time buyer Brit that buys a flat.

How can people afford £400 plus on top of mortgage payments!

Unreal especially with a mortgage as well

They can all club together and sack the management company.

STOP.BUYING.LEASEHOLD,!!!!!!!! Not sure how many more of these videos ppl need to do before people stop buying leasehold

Should be illegal. Doesn't represent the cost increase. £84 to £300+ in 8 years. In comparison Council tax doesn't increase that quick. Should be level to inflation.

The Uk's laws regarding property are insane, if you don't own you are screwed.

Problem with service charges they generally only go up and with high inflation that could be a significant sum added each year.

Oh come on now don't be unkind, the managing agents feel they all have a right to a top of the range BMW!

Stop paying it.

Who would pay that much in Peterborough unless a corporate is paying for their employees..

EU rules/ climate change rules on top of the high prices makes us debt slaves. Politics for the rich.

When the service charge increases substantially and all the flats in the building are paying the same. Surely they have the right to ask for a summary and a full breakdown of the costs, to see exactly what they are paying for and where their money is going.

WHO OWNS THE LEASE, THAT YOU PAY ALL THIS MONEY TOO , ARE THEY BRITISH I WOULD DOUBT IT IN THAT AREA

Wtf!!! Robbery

Why did they buy them when they knew they were leasehold.

You can tell someone not to buy leasehold as many times as you like, and they’ll do it regardless

It always starts low…scam.

I would rather live on a canal boat

Leaseholders my advice, start an action group to unite all leaseholders in the UK. You are voters. James Callaghan included abolishing leasehold properties in the labour manifesto of 1979. Thatcher was elected instead. This proves if there is a will it can be done. The two main parties won't do it unless there are votes in it. WHY? They both take money from large and multiple freeholders. Make the argument that new companies can be formed to manage the properties on behalf of the new shared ownership properties ie repairs, grounds maintenance etc. You will still pay a monthly fee but the occupiers would have control by electing a representative(s) to liaise. The companys who are formed would manage multiple properties employing people who would pay taxes on their earnings ad would the company.The present leasholders would get a monkey of their backs. Its a win win situation all round. The Question is who has got the testes to do it, have you?????

Every spike in prices from lumber, baby formula, gasoline, eggs and HOA’s is manufactured.

Most of the world is empty. Why live in a chicken coop?

Lease hold, a very British rip off

Pure greed

The APEX building across the way from there os a far nicer building in my opinion.

It's not easy being green.

It’s shocking, but…..you signed up for it!

Absolute robbery