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Notice of charge

If the property you are purchasing is leasehold, share-of-freehold or subject to service changes, then it is common for the landlord (or their management company) to require a Notice of Charge.

A Notice of Charge is the notification sent to the landlord or management company providing details of any mortgages on the property. This is so that if you, as the borrower, fail to pay ground rent or service charges, your landlord or management company will notify the lender, who may pay the charges and then add the cost to your mortgage.

The landlord or management company often charge a small fee to cover their administration costs. Unfortunately, it is impossible for In-Deed to determine how much this fee will be before speaking with the landlord. Therefore, you should appoint your In-Deed conveyancing solicitor as soon as possible so that all these issues can be ironed out early, ensuring smooth transition of your transaction. Call our waiting team of advisers on 0800 038 6886, who will be happy to assist you with your plans.


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