As a conveyancing solicitor, I would add to that that, people buying ‘Luxury apartments’ need to be aware that they may end up paying Service Charges in the region of £3000-£4000 per year! I am amazed at the cost of some of the Service Charges in the ‘luxury apartments’ that some of my clients are buying. Although I point this out to them – often the clients are so ‘in love’ with the apartment that the penny does not drop with them until the first annual service charge account arrives on the doormat.
Further, with retirement apartments – beware of the transfer fees payable to the landlord when you come to sell- these can be as high as 3% of the sale price.
Charles Church: My Little House Horror by Ursula Moore
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