Member

“I had to remortgage in 2023 and my service charge has been increasing above inflation for 4 years. Now my combined mortgage, shared ownership rent and service charge costs are £2,350 a month for the flat, which is let at £1,800 a month … Unfortunately, even before tax my costs are now way above the local market rate for rent. This flat was supposed to be an ‘affordable home’ but it turned out to be the worst financial mistake I have ever made. It is now a noose around my neck and a constant worry as I realise it could bankrupt me and make us homeless”.