Property News · March 1, 2025

Residents trapped with service charges of up to £8,000 a year threaten legal action against government


Owners of homes marketed by housing associations as ‘affordable’ are planning a challenge as service costs spiral• ‘There is no way I can pay’: residents despair of steep costs and ‘poor door’Residents trapped in properties marketed as “affordable” are planning legal action against the government after being hit with service charges of up to £8,000 a year.Shared-ownership homes are designed to allow people to get on the property ladder, with residents taking a mortgage on a share and paying subsidised rent on the rest. However, there are also service charges, which can initially be £250 to £350 a month. Once sold, some residents discover these charges can rise to £600 a month or more. Continue reading…

Source : theguardian.com
Read more…Residents trapped with service charges of up to £8,000 a year threaten legal action against government

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