CHARGES

Along with the purchase price of a Shared Ownership apartment at Bankhouse and rent (if you buy less than a 75% share), a monthly service charge and administration fee are also payable for living at Bankhouse.

The service charge covers the cost of maintaining the communal areas, buildings insurance and every day maintenance, and are charged at cost based on an annual assessment. Details of the current year’s service charge and breakdown of the services covered is available in our service charge information below. This service charge also includes a management fee within it, which covers the costs of Riverside's management costs.

Tonic’s admin fee covers the costs of the administration of resident’s monthly payments and direct debit collection.

The service charge and admin fee will be payable to Tonic, who will then pass the service charge onto Riverside, who provide the services.

Optional personal care and support service packages are available from Care Outlook at an additional charge. Details of these are available in our on site services information, here.

On resale, a Sales Administration Fee is payable if Tonic find a buyer. This is 1% (plus VAT) of the market value of the owner’s share in the property. Legal fees are also payable to the landlord. Ongoing charges are also payable until the property is sold.