Q. What has happened to the Service Charge that I paid to the developer when I bought my home?
Answer:
If you paid an amount of service charge on account when you completed your purchase, this will be utilised to fund services provided to the development. Generally, the funds will be passed to Hobdens to hold on account until services are provided. In some instances, when a development is built in phases, the developer may carryout services in the early stages and utilise the completion funds to pay towards the costs incurred.
RETURN TO FAQ’sOther Service Charge & Ground Rent questions
- What is a Service Charge?
- What are my rights?
- Why is my Service Charge higher than my neighbour or the building down the road?
- What do I do if the wrong name is on my service charge invoices?
- My property is empty, why do I have to pay?
- What is the Management Fee?
- What is the Reserve Fund and Redecoration Fund?
- Why do I have to pay Service Charge when I live in a Freehold House?
- How do I know what Hobdens is spending my Service Charge on?
- Why has my Service Charge increased?
- How can I pay my Service Charge or Ground Rent?
- Why do I have to pay Ground Rent?
- What is the Service Charge?
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