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Ground rent and service charge question
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Hi All,
I purchased a leasehold flat on October 26th 2014 for £92500 with no mortgage.
I am looking at my rubbish solicitors bill and trying to work out how much I have paid and when it is due ground and service charge wise.
I didn't want to contact her initially in case they have made a mistake as they have messed up a multitude of things.
The service and ground rent are due on the 31st of March each year.
Now all I have is a list of her charges and purchase price 'including apportionments' which I presume includes some of these charges.
So purchase price was £92500 plus apportionments is £92958.61 which leaves £458.61 towards ground and service charges?
I have tried the maths but can't figure this out for love nor money.
I just didn't want a £700 bill on the 31st March unexpectedly.
Ground rent is £200
Service charge £500
Cheers
I purchased a leasehold flat on October 26th 2014 for £92500 with no mortgage.
I am looking at my rubbish solicitors bill and trying to work out how much I have paid and when it is due ground and service charge wise.
I didn't want to contact her initially in case they have made a mistake as they have messed up a multitude of things.
The service and ground rent are due on the 31st of March each year.
Now all I have is a list of her charges and purchase price 'including apportionments' which I presume includes some of these charges.
So purchase price was £92500 plus apportionments is £92958.61 which leaves £458.61 towards ground and service charges?
I have tried the maths but can't figure this out for love nor money.
I just didn't want a £700 bill on the 31st March unexpectedly.
Ground rent is £200
Service charge £500
Cheers
0
Comments
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The apportionments could include..... who knows what? They should be listed/broken down somewhere. If not, write and ask..
Pointless us guessing!0 -
Ok fair enough but presumably on purchase I would need to pay the service charge and ground rent on completion?
Would this be correct?0 -
I pay GR/SC in two installments per year, covering April to September and October to March.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
PlutoinCapricorn wrote: »I pay GR/SC in two installments per year, covering April to September and October to March.
Well that's right but the £458.61 doesn't make any sense.It has to be the ground and service charge but doesn't add up.
Oh well I'll email her I guess.0 -
Email her for a breakdown of the £458 figure, but expect another bill on March 31st - service charges are normally paid in advance, either six monthly or annually.0
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Usually you would pay the correct proportion of the annual amount from the date you move in until the next payment (ie, the right percentage for Oct 26th March 31st).
Assuming Ground Rent and Service Charges are paid for in advance, then you may well need to pay another £700 on March 31st - I'd be surprised if you weren't.
KiKi' <-- See that? It's called an apostrophe. It does not mean "hey, look out, here comes an S".0 -
This sum may or may not include a sink fund payment. If it does not, you may get huge bills for major works in the future too.Who having known the diamond will concern himself with glass?
Rudyard Kipling0 -
PlutoinCapricorn wrote: »This sum may or may not include a sink fund payment. If it does not, you may get huge bills for major works in the future too.
Thanks I've had a breakdown of the £500 service charge and that figure includes a reasonable sinking fund so hopefully no major surprises!0
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