Worried! Service Charge!

davidmcn

FTBTom wrote: »

How do you do checks before hiring a solicitor and thus incurring costs?

You do realise that service charges can constantly vary anyway? Even if it were £100 today it could be £150 the month after you move in. Perhaps it was £100 whenever the vendor gave the agent the info.

FTBTom

davidmcn wrote: »

You do realise that service charges can constantly vary anyway? Even if it were £100 today it could be £150 the month after you move in. Perhaps it was £100 whenever the vendor gave the agent the info.

My issue is not with the service charge it is with the estate agent stating the incorrect figure and thus essentially making my mortgage offer invalid. The service charge has been £150 for 4 years so it has not just changed.

KnowledgeIsLife

I wouldn't dwell to much on what has happened as it won't change anything now honestly give us a call we are a friendly bunch and love to help.

Thrugelmir

FTBTom wrote: »

The service charge has been £150 for 4 years so it has not just changed.

If affordability is tight. Then I would suggest looking into the service charge in far more detail. Service charges aren't a fixed cost. They merely represent a recovery from all the leaseholders of the expenditure incurred. Is there a sinking fund or any other reserves in the accounts. Otherwise you could get hit with an unexpected repair cost at a later date.

FTBTom

Thrugelmir wrote: »

If affordability is tight. Then I would suggest looking into the service charge in far more detail. Service charges aren't a fixed cost. They merely represent a recovery from all the leaseholders of the expenditure incurred. Is there a sinking fund or any other reserves in the accounts. Otherwise you could get hit with an unexpected repair cost at a later date.

There is a sinking fund. I guess i just have to wait and see what Santander say. Have you any idea how much increase in deposit would offset an extra £50 in costs?

Thanks for everyones replies.