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 Hillcrest 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 happens if I cannot afford to pay my service charge?
- Why do I pay an insurance premium?
- Can I have a satellite dish?
- 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 Sinking Fund and Redecoration Fund?
- Why do I have to pay Service Charge when I live in a Freehold House?
- How do I know what Hillcrest is spending my Service Charge on?
- When will Hillcrest start charging me my Service Charge?
- 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 Service Charge?
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