London Mayor Sadiq Khan has announced a review into high service charges faced by leaseholders in the capital, with some reportedly paying up to £4,000 a year. The probe aims to address concerns over transparency and fairness in the fees charged by freeholders and managing agents.
According to reports, the review will examine whether current regulations are adequate to protect leaseholders from excessive charges. Khan stated that many Londoners are struggling with rising costs, and these service charges add to the financial burden.
The move follows growing complaints from residents about opaque billing practices and lack of accountability. The mayor's office has not yet provided a timeline for the review's completion but emphasized the need for reform to ensure affordability and fairness.
