Rocketing charges keep us awake at night, say Leeds leaseholders

Despite the increase in service charges, Mr Wood says they have seen little return for their money.

“When we first bought the property, the management company said they were going to do a full renovation – six years later nothing’s ever happened,” he said.

“I actually took a paintbrush out and decorated the whole of the corridor and common areas around our flat so they looked a bit more respectable.”

“It’s an absolutely huge financial burden and stress,” Mrs Wood says.

“It does keep us awake at night.”

In a joint statement, building owner Grey GR and Inspired Property Management, which collects service charges and maintains the block of flats, said: “We appreciate the challenges in respect of insurance for high and mid-rise properties and we empathise with leaseholders who are facing higher insurance costs.

“We seek to secure the best possible arrangements, which involves a competitive quote process with brokers and insurers – however, the number of insurers offering this type of insurance, as well as the increased risks as a result of the building safety crisis, has proved challenging and has resulted in increased premiums.”