Sorby Park - Affordability Schedule 06102023

AFFORDABILITY SCHEDULE

Indicative costs relating to the tenure of the new home and Estimated costs for maintaining the property

This form highlights any anticipated costs that customers may be liable for during the first 10 years of ownership of their new home. Where estimated costs are provided, it must be borne in mind that those costs will be likely to increase year on year in line with RPI.

This does not include such areas as mortgage payments, utility bills or home insurance, but covers potential anticipated costs of running and maintaining a home. These costs are indicative and based on the best information at this time but could be subject to change.

In addition to the items noted below, Customers should follow the manufacturers guidelines and warranty requirements in order to maintain any appliances or fixtures within their new home.

Furthermore, whilst running in a new home, it is important to maintain good levels of ventilation whilst the structure is drying out. This could include the use of extractor fans in bathrooms and keeping trickle vents open on windows. For further information, please refer to the Customer Service team.

The projected costs referred to below are only estimates, are not intended to reflect all possible costs that a customer may incur and are provided for guidance only. Actual costs incurred may be higher or lower than specified and we accept no liability should actual costs incurred differ from those set out.

Indicative costs relating to the tenure of the new home

Type of Cost Detail / Nature of Costs

Waverley Community management Company Ltd

Advantage House, Poplar Way, Rotherham, S60 5TR 01143493131

Manage ment service fees

(see FAQ’s below for further details)

The current estimated annual amount payable per property

An apportionment of the annual service charge will be collected on completion (from the date of completion until 31st December) which sum will be allocated to the property and provided to the Managing Agent once the Managed Areas are handed over

An admin fee of £42.00 is also charged for the setting up of the service charge account

Ground rent These are charges for leasehold properties only

Block service charge

These are charges for leasehold properties only and are sometimes referred to as Service Charges.

These are charges raised by the Managing Agent to cover services they provide for the benefit of the Building.

Costs

Event fees

It is usual for a Managing Agent to charge a fee for providing a pack of up-to-date information to facilitate any re-sale or remortgage of a property. The pack would be requested as part of the legal conveyancing process.

Fees depend on the purpose of the pack, age of the development and the Managing Agent. Costs should be expected to increase annually in line with RPI.

£89.10 (inclusive of VAT)

£N/A

£N/A

Documen t fee

A document fee is payable for producing the sales pack and engrossment transfer or lease. This amount is included in the property completion statement.

Typical fees range between £200.00 and £500.00

£150.00

Management Service Fees – FAQ’s

What are the Managem ent Service Fees for?

These are charges raised by the Managing Agent to cover the services they provide for the benefit of your Property or the Estate. It covers the maintenance costs and upkeep of communal managed areas on the Estate. For example:

 Land maintenance

 Tree works

 Play Area inspection and maintenance

 Site inspections

 Public liability insurance

 The managing agents fees and costs associated with the administration of the management company

The scope of these charges can change over the lifetime of a development.

Will the estimated cost increase?

The Annual Maintenance Cost has been estimated by the Managing Agent and is an estimate of the costs likely to be incurred in the first year or so after they take on the management of the Development. These costs are likely to increase in line with inflation, as per the provisions of the Transfer, and the Managing Agent will keep you informed on an annual basis of the costs.

How and when will the Charges be invoiced?

The Managing Agent will issue formal Estate Management Charge invoices to you. They will collect this usually in either quarterly or six-monthly installments. The Estate Management Charge will be collected in advance, so that there is money available to pay for the services provided.

On a larger development, once certain elements of the Estate communal areas are physically available on the development, the developer may elect to undertake the Estate Services and will then issue the Estate Management Charge invoices until such time as the Managing Agent takes over the day-to-day Estate management functions.

What should I do if I have any other questions?

Full details are set out in the legal documentation pack which will be sent to your solicitor who will be able to assist with any queries.

Estimated costs for maintaining the property

Your EV Charger comes with a 3-year warranty but should give around 10 years of use. Servicing cost every 3 years

Integrated and free-standing appliances carry a two-year warranty. Appliance manufacturesandothersoffer extended warranty and breakdown cover for up to 10 years, typically costing £6 to £10perappliancepermonth.