Service Charge Explained
All leasehold homes and apartments have charges to cover the maintenance of the building and shared areas. Shared Ownership homes and apartments are no different.
The charges are usually broken in two – sinking fund charges, and service charges. For simplicity, at Boundary View, these charges are combined into one charge. The cost for your apartment will depend on its full value but will range from £256.20 per month. You need to pay this along with your monthly rent and mortgage costs.
View ApartmentsThe charges are usually broken in two – sinking fund charges, and service charges. For simplicity, at Boundary View, these charges are combined into one charge. The cost for your apartment will depend on its full value. You need to pay this along with your monthly rent and mortgage costs.
Gecko Management fee - £10
Building Insurance
1 Bed = £22.59
2 Bed = £28.59
Sinking Fund:
1 Bed = £92.18
2 Bed = £92.18
Reserve Fund:
1 Bed = £16.45
2 Bed = £16.45
Service Charge:
1 Bed = £256.20
2 Bed = £262.21
Your charges will cover a wide range of maintenance and repair costs, including:
- Administration management fee
- Building insurance
Maintenance:
- Building fire alarms
- Estate charges
- Communal cleaning
- Window cleaning
- Floor cleaning (internal & external)
- Bin store jet washing
- Pathway jet washing
- Guttering cleaning
Sinking Fund:
- Building cyclical external decoration
- Building roof
- Building windows
- Building cycle store replacement
- Decoration Internal Communal Area
- Communal Floor Finishes
- External Lighting
- Gutters & Downpipes
- Automatic Opening Vents
- Fire Alarm
- Communal Doors
- Main Entrance Doors
- Door Entry / Intercom System
- Electric Vehicle Charging Point
- TV Aerial
- Flat Entrance Door
Read Our Guide
Buying your first home is definitely one of the most exciting times of your life, but one that also comes with stressful moments. Our comprehensive guide is ready to download and read so that you can understand everything you need to about Shared Ownership.
We’re here to support you every step of the way, so if you have any questions or need more information, please don’t hesitate to reach out to us.
Download Guide