Am I evil, I only read these boards to find someone worse off than me..

Fire_Fox

jenner wrote: »

What really annoys me is the maintenance charges for my flat, I have borrowed a lot of money for that. I have needed to pay this off with credit cards (yes I should have cut down in other places, true), so much of my current debt on cc is from the outrageous maintanence charges for the flat. Ive worked out that it is at least 1200 a year, which makes about 12k over the time I have been here, not including two large amounts of 2.5k for drains works and 6k for resurfacing works, plus new garage roofs. It makes me depressed.

Service charges vary wildly - depending on where you live, how well maintained the building has been in previous years, and how much of thieving g*ts the management company are. I live in a bottom end flat in a northern city, no gardens, no garages, no roadway and I am charged £1200 per annum PLUS extra unforseen essentials (£1100 for the fire escape collapsing last year). Note that high charges for necessary works will help your investment maintain its value so you will effectively get the money back.

For everyone's benefit, you are legally entitled to ask to see all the service charge accounts and invoices, and access must be provided within one month of your formal request. It's also fairly easy to find out how much other properties in the area pay for their charges as it's often written on estate agents details.

Under the Landlord-Tenant Act 1985 service charges must be "reasonable" and they must be "reasonably incurred". In other words your basic charges should be similar to those for similar properties locally, and they can't charge you for stuff that has not been done, does not need doing or is massively overpriced.

I am disputing my charges, and have not paid at all for two years. This is NOT the first course of action to take, but my managing agents ignore letters or answer them when they can be bothered (7 months twice!). Note also that you cannot sell a leasehold property whilst there are outstanding service charges or disputes.

The Leasehold Advisory Service and Royal Institute of Chartered Surveyors websites are pretty helpful.

mr.broderick

jenner wrote: »

Yes, I am trying to feel good about my own personal situation. Here is its for all to see and to criticise

I am a MEWer, I didnt know I was doing anything wrong until I started reading these boards. Im in my first property, bought in 1997 for 58k. the mortgage on it then was 52k. Over the years, the mortgage has gone up and up, not down. I now owe 67k or 72k if you count redemption penalties.
Some of the MEWing, i consider to have been worthwhile, double glazing, university fees for new career. Some clearly has not been, its been to pay off debt, run up by shoe and holiday purchases.
In addition, I have about 20k of more debt across various items, money owed to my parents, money on 0% cc, money to buy a (cheap first) car.
What really annoys me is the maintenance charges for my flat, I have borrowed a lot of money for that. I have needed to pay this off with credit cards (yes I should have cut down in other places, true), so much of my current debt on cc is from the outrageous maintanence charges for the flat. Ive worked out that it is at least 1200 a year, which makes about 12k over the time I have been here, not including two large amounts of 2.5k for drains works and 6k for resurfacing works, plus new garage roofs. It makes me depressed.
Im now trying to sell the flat, because I want to move to another area, but also I do want to pay off the debt and move to somewhere where there is no maintanence charges unless I decide to renew something.
So, flat has been on for 6 months, is 25% off the top price, no offers.

I want to hear all about Anthea Turner and the Wilsons, because their troubles might make mine feel less.

Exclusive, britains debt mountain blamed on fancy high heels.

puddy

neverdespairgirl wrote: »

that's not unusually high, I'm afraid to say. Our flat's service charge is about £2,000 a year, not including major works (painting, repairing, all the rest of it).

where are you? Im in south london. Im not saying its usual or unusual, all I know is that the money it costs to do the work we get done, is way over the odds and any challenges to the tenders and outgoings are usually dismissed in some clever legal way to the extent that we are now apathetic.

the managing agents take their 10% for costs, in addition they only seem to tender from great big industrial companies that cost a fortune, not mr local business, i hate them

puddy

mr.broderick wrote: »

Exclusive, britains debt mountain blamed on fancy high heels.

and believe me, they really are fancy,, all 50 odd pairs of them:p

treliac

PasturesNew wrote: »

awww *hugs*
There are loads worse off than you.... pop to the DFW board. People on there with £250k mortgage, OH's just run off with the neighbour, 6 kids to cope with, negative equity and £100k of cc debt.

Hint: look for those with Sky+ in their SOA and a holiday budget.

Thanks for cheering me up - you do make me laugh Pastures.

(You just need to add half a dozen of those 'hearts and blowing kisses' smilies.)

teaspoon1

jenner - mortgage is 62k and asking price is 180k? Looks like you have some room to manoeuvre on that price. Seriously. Lower it enough and someone will bite (maybe). Are the other comparable flats selling? I bet they're not. So they're too dear - and yours probably is too. Knock 10% off and see what happens.

HTH - and good luck.

starsinmycrown

Well, if it makes you feel any better, i was on these boards for the exact same reason as you, but hoping to find somebody worse off than me, but i just saw your post!

don't take this the wrong way, but be thankful you have a house. i really want one, its all ive ever wanted. i must be one of the few people into interior design who lives in a box room! i'm 26 and had to move back with mum. the way things have been ever since i left college, means that although i thought as a kid, id be able to get a house just like everybody else has, i just can't. i don't think i'll earn enough until i'm in my 30s. fat chance. i'm living here with my bro and bros gf 23, and 24- cos they cant afford rental prices either. my bros gf has a dream too- to own her own home. i wish i had my own house. someday...

Davesnave

treliac wrote: »

Thanks for cheering me up - you do make me laugh Pastures.

(You just need to add half a dozen of those 'hearts and blowing kisses' smilies.)

Like most of us here, Pastures only does 'tough love.'

I won't post the story, but I know someone worse off than OP: insane, criminal wife, psychopathic neighbours, wild child, etc. and at the end of it all he lost the house. He's clawing his way back though. No use navel gazing he'd say, just get on with it. Tough, but true.

neverdespairgirl

jenner wrote: »

where are you? Im in south london.

central London - WC1.

torontoboy45

jenner wrote: »

Yes, I am trying to feel good about my own personal situation. Here is its for all to see and to criticise

I am a MEWer, I didnt know I was doing anything wrong until I started reading these boards. Im in my first property, bought in 1997 for 58k. the mortgage on it then was 52k. Over the years, the mortgage has gone up and up, not down. I now owe 67k or 72k if you count redemption penalties.
Some of the MEWing, i consider to have been worthwhile, double glazing, university fees for new career. Some clearly has not been, its been to pay off debt, run up by shoe and holiday purchases.
In addition, I have about 20k of more debt across various items, money owed to my parents, money on 0% cc, money to buy a (cheap first) car.
What really annoys me is the maintenance charges for my flat, I have borrowed a lot of money for that. I have needed to pay this off with credit cards (yes I should have cut down in other places, true), so much of my current debt on cc is from the outrageous maintanence charges for the flat. Ive worked out that it is at least 1200 a year, which makes about 12k over the time I have been here, not including two large amounts of 2.5k for drains works and 6k for resurfacing works, plus new garage roofs. It makes me depressed.
Im now trying to sell the flat, because I want to move to another area, but also I do want to pay off the debt and move to somewhere where there is no maintanence charges unless I decide to renew something.
So, flat has been on for 6 months, is 25% off the top price, no offers.

I want to hear all about Anthea Turner and the Wilsons, because their troubles might make mine feel less.

first: thanks for your honesty re MEW. your post is something of a rarity on this board. some of the 'holier-than-thou- god-I'm good- with- money' posts might have been intimidating. (I'll own up immediately to some of these).

your MEWing debt is as nothing compared to some of the stories I've seen on the DFW board. you've only MEW'd £14k, and some of that went on d/glazing and education - nothing compared to the £40k some idiots have 'released' for the bmw x4's.

i can't help with the maintenance charge thing but - hey - enjoy the anthea/bovey moment. I know I am, even if it's not worthy of me!