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You are here: Home / Exit & sub-let fees / OFT announcement on exit fees not as “substantive” as we all hoped … oh, and the timing has “slipped”

OFT announcement on exit fees not as “substantive” as we all hoped … oh, and the timing has “slipped”

September 5, 2012 By

OFT website outlining the agreement is here
http://www.oft.gov.uk/news-and-updates/press/2012/77-12 

When the Office of Fair Trading finally says something about the issue of exit fees, it won’t be concerning the whole leasehold sector but only one single company.

This information has been given to a Campaign against retirement leasehold exploitation / LKP activist in an email from one of the OFT’s bureaucrats.

“… we had hoped to be in a position to make a ‘substantive announcement’ in August.  I should clarify that the planned announcement relates to the outcome of an OFT investigation of one of the firms we have been actively investigating … For the avoidance of doubt, the planned announcement does not relate to the publication of a report.

“Unfortunately the anticipated timing of the announcement has slipped and we now hope to make the announcement in early September.”

The official adds: “I appreciate that this remains a pressing matter for those leaseholders and other interested parties who are affected.”

The OFT has spent three years on this “pressing matter”.

Related posts:

Default ThumbnailOFT promises ‘substantive announcement’ on exit fees in August Default ThumbnailShapps grilled on TV, leasehold report and OFT statement on exit fees Default ThumbnailOFT does deal with Tchenguiz to cut sub-letting fees to £85 at retirement developments – but exit fees on sale still stand Default ThumbnailExit fees: second response to Campaign against retirement leasehold exploitation from the OFT
Filed Under: Exit & sub-let fees, News Tagged With: ,

Professional services

Managing agents

Big managing agents, which manage flats, are big because they have got business from developers or large-scale freehold owing companies.

Such as Proxima or Fairhold, which are administered through Estates and Management and are ultimately controlled by a trust in the British Virgin Islands.

Doubtless they are very obliging.

Not a single one is big through consumer choice.

Managing agents accredited to the Leasehold Knowledge Partnership, on the other hand, want business from leaseholders. Many are former leaseholders. Many have spoken at our Parliamentary meetings urging politicians to clean up the sector.

All have signed undertakings of good practice and have provided extensive references … from leaseholders.

They can also hand-hold leaseholders through right to manage at minimal cost.

Contact Sebastian O’Kelly at LKP for further details: sok@leaseholdknowledge.com, 07808 328 230

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JFMManagement

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hmlshawRichmond, Surrey

Diamond

Epsom, Surrey

 

jonesassociates

Macclesfield

 

 

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