Someone buying a flat in Britain currently faces the prospect of paying £2,845 on service charge per year, analysis of current sale listings has revealed.
That comes on top of paying council tax, mortgage repayments, energy bills and in many cases ground rent to a freeholder.
But in extreme cases, service charges have become the largest annual cost for flat owners – and they tend to rise over time with costs varying greatly depending on the type, size and location of the property.
The annual charge covers things like cleaning in communal areas, repairs, safety checks, buildings insurance, on site staff costs and the
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