Your guide to service charges
Service charges are payments by the leaseholder to the landlord for all services provided. Service Charges are made up of a number of different items and these will differ between schemes depending on the services that are required to be delivered and in accordance with the terms of your lease. The actual amount you pay will change each year depending on the services provided, the repairs undertaken etc.
The service charge (if applicable) will be payable from the date of completion of the purchase of your home and remains payable until the property is sold.
The basic Management Fee Limit set by the Homes & Communities Agency which is applicable to Leasehold Schemes for the Elderly (LSE) for the accounts that we issue to you in February & September 2017 is £430.00 per property.
This limit does not apply to non LSE schemes.
What do service charges pay for?
Service charges are made up of a number of different items which may include scheme staffing costs, communal heating and lighting, emergency alarm monitoring service, communal gardening, repairs, annual service contracts etc.
The specific items contained in the service charge accounts for individual properties/schemes are determined by the terms of the Lease agreement.
We've pulled together a guide to 'Service Charge Accounts’ which provides information which we hope you will find useful and may help you to understand the Service Charge Accounts for your scheme more easily. You can view this information here.
The information provided is only a guide and covers the ‘general information’ which applies to most of the schemes. The Leasehold Officer for your scheme will explain the accounts specific to your individual scheme in more detail at the Annual Scheme Consultation Meeting. Please take a copy of your individual scheme accounts with you when you attend the annual meeting for your scheme.