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Why is the service charge on this flat so much?

5 replies

EachandEveryone · 18/07/2023 17:54

Can you believe I walked past this very house on my way back from hospital today and I told myself if I ever won the lottery I will buy a flat down this little roas. So I got my ticket and just went on Right Move whilst dinner is cooking. Its the very same one I admired this morning! Well I can easily afford it with my 20 million and be at work in five minutes. However, I think Im too stingy to pay a £300 service charge per month. Who does that go to and what is it for? Ive only ever seen it attached to purpose built flats. Even without my fantasy I still want to know what its for and can they just put it up? https://www.rightmove.co.uk/properties/136646480#/?channel=RES_BUY

Check out this 3 bedroom apartment for sale on Rightmove

3 bedroom apartment for sale in Hampstead Hill Gardens, London, NW3 for £2,250,000. Marketed by Goldschmidt and Howland, Hampstead - Sales

https://www.rightmove.co.uk/properties/136646480#/?channel=RES_BUY

OP posts:
LBOCS2 · 18/07/2023 17:57

Insurance, facade maintenance, contribution towards major works (roof/external redecorations), etc. Compliance with the new building safety act? Company secretarial services for the freehold company. Accounts preparation.

Depends on the lease really.

BruceAndNosh · 18/07/2023 17:58

The leaseholder is planning on reroofing the property using solid gold tiles?

3dogsandarabbit · 18/07/2023 17:58

Well if a person can afford over £2 million for a flat I don't think they would worry about £300 a month service charge.

smooththecat · 18/07/2023 17:59

Council tax band G too, very steep for an apartment. Would have thought that would be the whole property.

Plexie · 18/07/2023 18:04

It says share of freehold but there's a lease of 999 years from 1991, with a commencement of lease from 2015. What does that mean?

Maybe they have a professional gardener for the front? It would be sensible to build up a maintenance fund.

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