AIBU to be absolutely devastated by this?

I'm so sorry for you OP. I can't imagine how bloody stressful and upsetting this must be. I'd be devastated too! Have you tried the CAB? Just to see if there is scope to challenge the massive increase in fees versus what you're actually receiving?
More people need to know about this kind of situation because I don't think its widely known.
You're certainly not being dramatic and I really hope things get better for you xx

An unbearable, impossible situation by any reckoning. Get out of this scam as soon as possible. Also seek advice from relevant bodies, including Citizens' Advice. There must be a legal way of sorting this out in favour of lease holders.

Hi Op,
I haven’t read the full thread but your situation sounds very stressful. I’ve been both a leaseholder and director of a freehold company. Not in a similar situation to you but I do know that The Leashold Advisory Service are very helpful and that also that management companies can be unscrupulous, unqualified and greedy, quite the combination! There are ways you can challenge and stop this though, there will be other leaseholders in the building a first step is to see if you can join forces and start the processes of RTM of even enfranchisement. Best of luck and if you want to PM me please do.

We set up RTM company to manage our block of flats. We still use a management company but all decisions have to be either made or approved by us. We decide on the gardeners and cleaners and if they don't do the job well we sack them. We decided when the carpark needed resurfacing and which company to do it based on price and reputation. We go round from time to time checking the outside and we arranged for lighting and an intercom system.

Oh my gosh that's awful. Can over half of the flats in your building go for freehold? You'd then have much more control. https://www.penningtonslaw.com/expertise/business/real-estate/property-entrepreneurs/property-entrepreneurs-faqs/faqs-buying-the-freehold-of-flats-with-other-tenants-collective-enfranchisement

Otherwise, absolutely sell at auction and put it behind you

I don't know if anyone else has mentioned this because it's such a long thread but check your credit cards, bank accounts, house insurance, mortgage etc you might find you've got legal expenses cover which is a godsend at times like this

I need to add a ps to my comment that I can no longer edit. The corporations are not just in it to make money but more specifically to make a profit for their shareholders. This is a GLOBAL thing. All levels of our Global governments are complicit in these activities and/or their hands are tied. These Asset Management Corporations are now too large to stop. We are all being caught up in it (the average person)😡. We need to stay away from any market they are after, which in the UK is obviously those posh new housing developments. Anything that is professionally managed. Just look up what is happening to Mobile Home Parks in the US and Retirement communities in Australia. These activities have been allowed to bloom for years. Once caught you need to be very cool and smart to win back your investment.

So sorry you're going through this. I suggest you contact your local paper or even a national newspaper. A good investigative journalist would be able to publicise but also to research this dodgy management company. At the very least there'd be some satisfaction of giving them bad publicity. It might even be worth threatening with it first.

My heart goes out to you my dearest Sister! Unfortunately this is a global situation and its arising in a number of ways whether it be retirement villages in Australia, Mobile Home Parks in the US or what's happening in your case in the UK. The thing is to see this from the global perspective. I do not know the details in your specific case and I am no expert on this but I have done a fair amount of research on it.

Point is that all regular people are being screwed by these companies and our Governments are complicit!!!! There will be no help. You can only spend more money and time and in the end you will lose that too. You need to take a deep breath and apply your energy where you will get the result or the stress will ruin your life, preventing you from moving on. And as you said correctly, time is not on your side. These Asset Management Corporations (and whomever they partner with that own assets like your home) want to make money. That's it. If your life is ruined ...oh well. They will pressure and pressure you until you break so you have to think calmly to find a way not to lose your investment. Perhaps you can rent it out and take a small monthly hit, live somewhere else that is not constrained by these modern asset managed developments and give the value of the asset enough time to increase (which it most certainly will as those companies are betting on it). in 10 years (time is on your side with this one) you can sell it and get all your money back. Important thing is not to react to the pressure they are putting on you and not to think you can fight back. There is no fighting back to the system that is creating this for normal working people. Sending you calmness in this 'battle' you didn't know awaited you.
ps. I know very well that its easy to write these things and so, so hard to implement them but the strength is within you. BIG Hugs my dear Sister.

Have you and other residents protested about the management fees and lack of services provided for them? It feels like together something might come of it if there was group action?

No superiority at all. No policing, speech or otherwise.

I clicked on the post as I was extremely concerned that someone was contemplating taking their life. I read all your OP posts and none suggested this was the case.

I'm not going to share my life story to justify why I hate the way this phrase is used, usually for trivial matters that absolutely do not merit it's use. Given your experience and ongoing mental health I would hope that you understand why someone may feel this way about the phrase and how it's used.

If I'd thought you were actually suicidal and needed 'talking down' i would not have had that reaction and certainly wouldn't have made the comment as it wouldn't apply.

I'm sorry for what you're experiencing and I'm sorry for how this is making you feel and the impact it's having. I will delete my original comment as it's not relevant to this discussion now that it's clear that you literally did need talking down.

My comment remains true for me. I find it frustrating and very sad how such phrases are used by people who have little to no experience of what they're saying is actually like. I usually will call people out on it.

I hope your situation changes for the better and that your mental health continues to be managed. Sincere best wishes to you

There was a piece on this very thing on Rip off Britain on bbc recently. The owners got the management charge significantly reduced with help from an expert.

You can have support from Citizens Advice for no charge and Shelter are sure to offer free advice specifically about housing issues. Don’t be put off if you have to hang on the phone a while or visit their websites. The help they can give will be worth it. Citizens Advice were brilliant when I accumulated some big debts a few years ago.

It looks as if the broadcast date has been changed.
According to the BBC website, and my online TV planner, it will be tomorrow, Tuesday 19 November.

(I only know this because I was setting my recorder up to record it)

Edit: Friday’s programme will be Rip Off Britain: Holidays.

This is awful for you & so frustrating. I myself had to deal with a management company when my mother passed. They were almost uncontactable. Their name doesn't begin with an S & end with a Y does it? Good luck.

If it was me personally, I would write to every single tenant, set up a WhatsApp group too for you all, and get solicitors advise because you are paying for a non existent service.

So sorry to hear of this. I have heard of these types of fees but yours is the most expensive i have heard of. Its no wonder you feel trapped, helpless and frustrated. There are some Some good suggesitons in this thread. Re 'the issue is leasehold management companies are totally unregulated and they can essentially charge what they want.'. This is something that MPs and government can do something about. Contact your local MP. Email them yes (you can find contact details onine there is a specific search tool ). But also go to a MP sugery in person appointment and show them the issue. Make your issue their issue and let them take it to parliament. If nothing else it will help you feel like you are doing something about it. Suggest your neighbours do the same. When a number of neighbours are raisign the same concern to an MP they are duty bound to raise the issue in parliament for you. Make some noise. Wishing you the best of luck with this horrible situation.

Maybe consider a maisonette? A lot of maisonettes don't have a service charge as long as there is no communal area. So that might be worth considering.

OP I sympathise. I also owned a flat managed by HML and sold it for £50k below market value but I just about broke even on the purchase price. We did not have a cladding issue but were charged extortionate costs for insurance (a common issue) and were told our roofs were all defective due to negligent workmanship on previous repairs(!!!) totalling £30k each, it was a total scam but I just couldn’t face the hassle of taking the f*ckers to a tribunal. There were also other issues.

its all very well starting proceedings against the freeholder or management company but you HAVE to be prepared to see it through to conclusion. You have to declare all disputes with the freeholder when selling so bear that in mind.

i cannot tell you how relieved I was to see the back of the flat (I also went through a similar scenario on another flat). I had a suspected heart attack the day I got the letter abiut the roof repairs - it turned out to be a panic attack and I suffered more after that until I sold my flat.

I invested the money after the sale and now five years on I’ve more than made up the loss. I have a moment of gratitude every day that I no longer own a flat. It was a living nightmare.

i am an ex property lawyer so I should have known better! Good luck - I am in my 50s, you are young and WILL move on from this.

Move to rtm. We did this in a smaller building & saved ourselves a fortune.

But also check your ground rents. If the service charge includes that, it possible its one of those awful properties that had wildly escalating ground rents. Those were horrendous.

Service charges have to be demonstrable and they can be challenged. I would check if any of the parties involved are RICS regulated, this would be a good route to challenge as they would be scared of losing their RICS accreditation. However none of this will be quick. I'm so sorry. Good luck.

Indeed, in a similar position, I did actually think seriously of killing myself. I am very glad now that I didn't. We took a financial hit to get out of there, but it was so worth it.

OP, you are not alone, there are thousands of people in this position and there's excellent advice on this thread. I know it's so very hard now, but people are working to change things, and you can get out, keep the hope! Look for little, good things to get you through day to day and don't get overwhelmed by the big picture.

🤗

This, set up a Facebook group, or similar, for owners to register ... taking action is the only option.

Call all the owners of flat together and set up your own management company. It's the only way out of this situation.

You many need to enlist the help of a lawyer, so you will need to pay money to set it up, but make sure everyone is a committee member with a vote and elect a board.

Also ask the management company to breakdown all costs. Whilst it might not be regulated, you may have recourse through the courts. Seek advice on all of this from the citizens advice bureau.

Good luck.

The Building Safety Act 2022 introduced new protections for leaseholders regarding safety-related costs. There are caps on what leaseholders can be charged for building safety works.

You may wish to contact the Leasehold Advisory Service (LEASE) for free advice about the legality of the service charge increase. Look into whether you can challenge the service charge through the First-tier Tribunal (Property Chamber)