Regents Gate

Details

• Admin Fee - £750• Service charge – has been budgeted at £62.96 per week for the 1st year. There will be a budget every year • Ground Rent – Zero, then a reconciliation of actual costs. Service charge covers costs associated with maintaining the communal areas, which include repairs to fire alarms, entry phone systems, lighting, communal area cleaning, pest control, gardens, window cleaning and building insurance. Just like any other home, you will still need to pay your council tax, utility charges and personal contents insurance.• Car Park charge will apply if a car park space was required – one off fee for an allocated car park space on the development car park for £1500. This charge is not payable again.• Exit Fees Apply - For whatever reason, if you wish to leave Regents Gate or if your circumstances have changed and you wish to discuss what options are available to you please consult with our Customer Liaison Team. If you have concerns over future care and support we have dedicated teams with plenty of experience who will help you with providing any information that can aide your decision making.The exit fee supports renewal and replacement of structural and other integral items in the building, as well as anticipated costs of upgrades and improvements to the development. 1% of the purchase price, increasing 1% each year and capped at 10% at 10years, an administration fee £750 and any outstanding weekly charges of the original purchase price upon leaving Regents Gate. The buyback option is Regents Gate have the option (first refusal) to buy the property back at the original purchase price.Exit Fee - if you leave at Year 1 you will only pay 1% of the original purchase price upon leaving Regents Gate plus an administration fee £750.00 and any outstanding weekly service chargesYear 2 – 2% - of the original purchase priceYear 3 – 3% - of the original purchase priceYear 4 – 4% - of the original purchase priceAnd so on until you get to year 10 where it will be capped at 10%So if you left after 10 years you would still only pay the 10%