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A new controversy engulfs housebuilders: Nine in 10 homes built by the big developers are covered by controversial charges the watchdog is not happy about
Fleecehold – Warning to households buying new-build homes over ‘hidden’ charges costing them up to £3,000 extra per year
Homeowners can face high and unclear estate management charges, says watchdog. The Competition and Markets Authority raised concerns about charges for the management of facilities such as roads, drainage, and green spaces.
Property developers must be banned from charging extortionate ‘fleecehold’ fees, say Tory MPs. End to new homeowners being saddled with exorbitant costs for regular council services is backed by group of 46 Conservatives.
Housing estate ‘fleeceholds’ the next great scandal, Tory peer warns. A Conservative peer – and ex-adviser to Boris Johnson – has warned “fleeceholds” will be “the next great scandal” to hit the housing market.
New-build homeowners pay £1bn a year in estate charges as MPs slam use of non-disclosure agreements (NDAs). Homeowners told to sign NDAs before they can see details of their soaring fees. Around three million new build homes have been purchased in the last two decades, the majority requiring owners to pay estate charges.