The scandal over Account Preparation Fees is growing.
Based on information passed to About Firstport via a senior property manager, it has been suggested that the account preparation fees are reasonable and work out at about £18 per leaseholder.
it is not a question of whether those fees are reasonable, it is that those charges are unlawful?
Even Firstport's appointed legal team told a tribunal that the management fee" Covered preparing and issuing service charge estimates, accounts, providing account information to external auditors."
On hearing this the tribunal immediately struck out the account preparation fee.
If this double charged fee is £18 per leaseholder, we can extrapulate that this deception could easily be netting Firstport an extra £1.8m per year.
That being the case this fraud dwarks even the price fixing scandal.
