Liberal Democrat MP for Glastonbury and Somerton, Sarah Dyke, addressed Parliament, shedding light on the plight of local leaseholder residents burdened by exorbitant service fee hikes and restrictive contracts. One such instance was that of Anne, a resident at Cavalier Way in Wincanton, where service charges witnessed a staggering increase, shocking the community and raising concerns about financial mismanagement.
The 50 leasehold properties at Cavalier Way saw service charges soar, leaving residents grappling with bills that escalated by up to 400%. Anne, who had anticipated a reasonable service charge of £750, was blindsided by a sudden £7,000 invoice from RMG, the management company, to cover unforeseen stairwell repairs, without any prior consultation.
Sarah Dyke shared her dismay, emphasizing the hardships faced by residents, and promising to champion legislation to safeguard leaseholders from such crippling charges. She underlined the urgency of protecting residents from unanticipated financial burdens and ensuring greater transparency and security for all leaseholders.
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RMG acknowledged the concerns and announced a 28-day pause on billing, demonstrating willingness to engage in discussions over flexible payment options, as they strive to address the extensive overdue maintenance and health and safety issues that have plagued the community.
In the wake of escalating service charges and contentious management practices, the call for fairer protections for leaseholders resonates nationally, as ‘fleeceholder’ scenarios become increasingly prevalent, necessitating resolute action to shield residents from daunting financial shocks.