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£1400 a year isn’t vastly excessive for a small block but the absence of a sinking fund is a cause for concern. It means the leaseholders could be forced to pay out of their pockets for major works, if they become necessary. It’s also one of those things solicitors rub their chins over when advising buyers.
Sharkstar
I realise it's hard to compare like for like but what are people paying for Service Charges? I live in a 3 storey victorian conversion with x4 flats and it's approximately £1400 a year.
I've requested a break down from the managing agent but as far as I'm aware this doesn't include a sinking fund.
I think the other leaseholders and I would be eligible to apply for the RTM but it doesn't seem worth the trouble unless there's a significant saving to be made.