AIBU to be absolutely devastated by this?

Why didn't your solicitor warn you about the management charge??

I worked in leasehold property management for a short time - it’s an absolute minefield but there are things you can do.
lots of information here:
https://www.tpi.org.uk

If the block is not already RTM, then this is the way to go.
If it is RTM then you need to hunt down your directors, get together with other owners and call an EGM

This sounds hugely unfair. I’m so sorry. I really think you need to speak to a lawyer. Have you thought about group action?

https://clients.lease-advice.org/#/

https://www.gov.uk/guidance/remediation-costs-what-leaseholders-do-and-do-not-have-to-pay

Join the National Leasehold Campaign Facebook page . Lots of good advice from thousands of others stuck in the same situation.

I have a flat in a Victorian terrace and the managing agents wouldn't have stopped until they bankrupted us . One of the owners has severe mental challenges so getting RTM was stressful as I had to do it all myself but had no choice . We still have the problem of short leases but day to day we are not being demanded the price of a small car on demand .

Definitely make a noise to MP if you haven't already.

God that is truly terrible. I've read about thing like this. It's scandalous!

I would make a big noise about this OP, it is a devastating situation and completely unfair. You all need to write to your MP, and I would also contact You & Yours consumer programme on Radio 4. They often get responses when other means don’t.

https://www.bbc.co.uk/programmes/articles/1YnZrF9w7xR82St8d7Pgc6x/contact-you-yours#:~:text=Send%20us%20an%20email%20now%20to%20youandyours%40bbc.co.uk&text=Please%20state%20clearly%20if%20you,on%20air%20or%20published%20electronically.

I would note that as a low rise 1930s building we don't have the cladding issues you do (although we did have to have a good number of post Grenfell internal fire safety works).

This the perils of leasehold and flat ownership under management companies who think they have licence to print money There are reforms but each government doesn't want to tackle them . Labour said they'd deal with it in their first 100 days but as we see that's another false promise .
I really feel for you . Other than virtually give it away you have nowhere to turn .

The way to go is RtM or even buy your freehold.

We all own the freehold of our block (known as share of freehold) so we employ our managing agents. We recent appointed new ones and the tendering process was an eye opener to the variety of competency and charges out there. We went with a smallish local firm who weren't as glossy and expensive but get the job done.

HOWEVER you have to be prepared to put the work in - for free - I am going to be spending this weekend reviewing a S20 major works notice.

Also resident ownership/RtM does not make costs go away. Our building freehold has been resident owned since the 1980s and we are undoing years of neglect because residents bought the freehold to "avoid" large service charges. We still occasionally fight battles with the older owners who think maintenance of a large 1930s building can be done at the weekend by Dave and Doris from number 24.

Missing the point but don’t stress yourself out at TTC at 31. That’s the average age for first-time mums. Your womb doesn’t shut down the day you turn 30 so cut yourself some slack!

www.lease-advice.org/advice-guide/right-manage/

Firstly you need go get together with the other flat holders and sack the management company and take over yourselves giving owners the chance to be directors. We did this at a flat I owned as the management company were shocking and a rip off. Ours was only 16 flats though!

Secondly you could sell it at auction rather than with an agent. It's only money and moving on in life is more important.

I agree. Some freeholders treat leaseholders as a licence to print money. It's one of the reasons why I didn't buy a flat when I first bought, over 40 years ago, and although there have been some changes, like right to manage, it's still a bloody scandal.

The cladding scandal has seen a lot more leaseholders facing massive increases, which has made things worse.

Mind you, I looked at a freehold place on Rightmove the other day and that included a £3k service charge charge for "grounds maintenance". I know the development, and the "grounds" are just a few patches of grass between the 80 or so properties and some outside lighting . For it to cost £240k to look after it, they must be cutting the grass with solid gold nail scissors.

Not read the whole thread as in a rush but we are speaking to the Leasehold Advisory Service re a proposed 79% service charge on a flat we own with a view to taking the management co to a Tier 1 tribunal. We're also tentatively speaking to solicitors as it looks like we may need to go down that route. I feel for you. We'd like to sell our flat too but the market for flats is poor (also London), I'm told following covid people crave outdoor space and want a garden. We don't have the cladding issue and it's not our main home (we bought it to fund our retirement which looks doubtful now). I will return to the thread when I have more time but just marking my place.

I feel your pain OP. I bought a two bed flat after my divorce 5 years ago. At the time the service charge was £1k a year and the place was relatively well maintained. Then covid hit and everything apart from grounds maintenance was stopped.

It didn’t really get back on track after that, the service charge pretty much doubled and the services received halved. Communal cleaning is now every 3 weeks and that consists of someone opening the door and squirting air freshener in. The cobwebs were very useful for Halloween though I suppose.

Grounds maintenance turn up once a month and cut the grass. The hedges are so overgrown you can’t access some of the garden. We’ve been told the management company can get a contractor in to cut them back but it’ll be an additional £10k on top of our annual charge.

Good quality carpets were replaced with cheap ones and each flat had to contribute £500 towards the replacement. Then we were charged for carpet cleaning a few months later because the new ones were pale blue and looked awful.

It really is a shit show and these property management companies seem to have a license to demand money from residents with absolutely no way of challenging them. A few of us looked into Right to Manage but unfortunately not enough people were interested.

Have a look at this - it may be of some help?
https://hoa.org.uk/advice/guides-for-homeowners/for-owners/leasehold-reform/

I’m an empty nester and really want to sell my house for a flat but waiting for the reforms to come in @Haveyouseenthischicken are you on Facebook there is a very good support group on there called National Leasehold Campaign.

I'm so sorry op, this absolutely rubbish for you. You will get through it though, there is always a way forward 💐

How many flats in the block? Are you in contact with them? A few years ago a couple of friends of mine took exception to the robbing bastards in their management company. They walked around the block armed with full info and a clipboard and knocked on every door - a majority of residents were all too keen to support them in taking over the management of the block and it was done without hiccup (although I can't give you full details on the process). They are professional and motivated and it clearly shows, he in particular talks a good talk and could sell any idea to anyone! Maybe you have it in you to do the same, but if not, is there anyone else in your block who might be thinking along these lines you can throw your weight behind? As leaseholders, I believe you are entitled to see the accounts which might make for interesting reading too?

Hopefully your management are being so outrageous they won't actually get away with it, the bastards.

Someone needs to get all the flat owners to collaborate and kick out the management company. That doesn't have to be you; the peace of mind that it is all over may well be worth £20k or even £50k loss.

Group together with other homeowners to instruct a specialist solictor, so the litigation cost isn't all on you. You may be able to purchase insurance to cover litigation expenses/risk of costs if you lose, the solicitor should advise you about that.

We have just been through this and have gone through the Right To Manage process and our Service charge has magically halved with a new company.

Your life is not over but you’ll need to take action to sort it out

Good luck.

Is there a residents association?
In our flats the ra have an accountant go over the accounts from the management company every year to try and bring the service charge down. They challenge on loads of things and there are always mistakes.

The residents should band together with a solicitor to represent them collectively. Do contact shelter too.

Failing the above, I would definitely just get rid by whatever means possible. At some point, money is worth far less than your mental health and this has dragged you down far too much.

I would just get rid of flat at auction and then buy small freehold property. This is legalised robbery and I feel so sorry for you.

Marine Court in St. Leonards has a service charge of £10,000 per annum.