Homeowners in England and Wales are facing financial and emotional stress due to exorbitant charges imposed by Assethold, a company that owns hundreds of freeholds. The charges, ranging from key-cutting to cleaning services, have left leaseholders struggling to make ends meet.
Sue Robertson, a leaseholder whose service charge increased by 320% in four years, shared her harrowing experience with the BBC. She described the impact on her mental health and how the escalating fees have taken a toll on her finances. Sue’s story is just one of many, as leaseholders across the country are facing similar challenges.
Assethold, through its managing agent Eagerstates, has been accused of overcharging leaseholders by a combined sum of nearly £1.2 million. These overcharges have been documented in court tribunals, where judges have ruled in favor of leaseholders, awarding them significant sums in refunds.
The leasehold system in England and Wales is set to undergo an overhaul, with new laws being introduced to increase transparency and accountability. However, campaigners argue that the legislation does not go far enough in addressing the systemic issues within the leasehold sector.
Leaseholders like Jane Steel and Raymond Shaw have been vocal about their dissatisfaction with Assethold and Eagerstates. Jane discovered questionable charges on her service bill, including exorbitant fees for repairs and maintenance work. Raymond, a lawyer specializing in fraud cases, raised concerns about the company’s operating practices and the quality of services provided.
Despite the challenges they face, leaseholders like Sue and James are fighting back. Sue and James successfully applied to buy the freehold on their building, taking control of their home and finances. Their victory in court highlights the importance of holding freeholders accountable and seeking justice for overcharged leaseholders.
As the battle between leaseholders and freeholders continues, it is essential for homeowners to be aware of their rights and options for challenging unfair charges. Organizations like the Leasehold Knowledge Partnership are working to support leaseholders in their fight for transparency and fairness in the leasehold sector. By sharing their stories and experiences, leaseholders are making strides towards a more equitable and just system for all.