Most flats are held leasehold rather than freehold and there are obligations within the leases that are enforceable. These can include service charges, ground rent and other communal payments such as garden maintenance all of which contribute to the management company costs to maintain the common areas of the building.
At Blaser Mills we can assist with the recovery of leasehold liability arrears and have developed a bespoke system to maximise the recovery and include interest and legal costs, subject to their being a charging clause in the terms of the lease.
We can approach the mortgage companies where necessary and seek payment if there is a risk of forfeiture and the sum can be added to the mortgage term.
We will act quickly and effectively to seek the recovery of any default and recover the liability using the appropriate forums and process.
We often act for developers, investors and pension funds through their appointed property management company and we can offer a no recovery no fee option subject to certain criteria being met.