Property News · January 6, 2018

‘Fleecehold’ complaints flood in as residents battle to turn tide


Our story about homeowners on private estates facing uncapped fees for maintaining communal areas prompted a stream of responsesLast month Guardian Money revealed how thousands of homeowners, who bought on “unadopted” private estates, face escalating costs after developers sold off management contracts to private companies in what many describe as “fleecehold”. Following our report we were contacted by many homebuyers with tales of woe – but one name seemed to feature more than any other: Greenbelt.Greenbelt is a Glasgow-based company responsible for maintaining the communal areas of about 550 developments, home to 52,000 households across Scotland and the north of England, with another 30,000 due to join the company shortly. Continue reading…

Source : theguardian.com
Read more…‘Fleecehold’ complaints flood in as residents battle to turn tide

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