Leaseholders Win Victory In Service Charge Battle
On 6th January 2023 Leaseholders in a Canary Wharf block of flats secured a rare victory against their landlord in a battle over excessive service charges after a tribunal ruled they paid £1.6mn too much. The first-tier tribunal has criticised the landlords companies’ “complete lack of transparency with leaseholders regarding these commission payments, paid since 2010”. This “has been lamentable”, the tribunal ruled.
The ruling will undoubtedly be of interest to Communities Secretary Michael Gove who ordered a deeply reluctant Financial Conduct Authority to investigate insurance and commissions in the leasehold sector last year. It reported in October.
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