Which? Money Editor James Daley comments:

"Which? regularly hears of problems for leaseholders and welcomes any efforts to make the existing law work better for them. More certainly needs to be done to ensure leaseholders are aware of their rights - in particular, the right of groups of leaseholders to take over the management of their block from inefficient freeholders.

We advise any buyer thinking of purchasing a leasehold property, particularly retirement property, to do so with their 'eyes wide open', so that nasty surprises don't emerge later - such as high service charges, poor management and unnecessary restrictive covenants. The fact that the government has to fund a national leasehold advisory service - LEASE - is evidence enough of consumer confusion and possible detriment."

Research carried out by Urban Owners has revealed that UK leaseholders are losing out on a staggering £700 million pounds due to excessive fees and hidden costs imposed on them by managing agents' block management charges.

A further Urban Owners study revealed that over 70% of leaseholders are unaware of the Right to Manage - the process by which leaseholders can take control of the management of their block from the landlord or freeholder to escape the sharp practices of managing agents.

It is little wonder such an influential campaigner as Which? has chosen to highlight Urban Owners' drive to shine a light on the murky world of block management, our case has already been picked up on in the property, money and business sections of the likes of The Times, The Telegraph, The Independent and City AM.