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Service charge tipping point for flat buyers as soaring costs lead lenders to refuse them a mortgage
Rising service charges for flats are reaching a critical level, causing lenders to deny mortgages to buyers. The increasing costs are creating barriers for individuals seeking to purchase properties.
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Adjacent reporting
- The service charge on our flat has risen by almost 50% in five years: Can we challenge it?
- Where home buyers face the highest service charges revealed - with W1J postcode coming top
- US home prices hit an all-time high as sales slow and mortgage rates rise
- Prospective homeowners delaying purchases amid high prices, high mortgage rates
- Nearly half of homes listed in past three years failed to sell as owners are pricing them TOO high
- Price gap between flats and houses hits 30 year high as buyers swerve leasehold properties