Leaseholders 'overcharged' £700m for management fees

Leaseholders in flats are being charged excessively for management fees according to experts who are urging the Government to amend legislation and put an end to over the top charges.

An investigation by Which? Money and block management firm Urban Owners is set to further expose the managing agent malpractice costing the UK's 1.8million leaseholders £700million a year.

They state that a simple change to legislation requiring the landlord to disclose extra details on commissions, contractors and insurance policies could make a huge difference to that eye-watering figure.

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Posted on Tuesday, November 01, 2011.