Cost of living crisis and the impact on service charge recoveries
News
In February 2023, the Bank of England’s Monetary Policy Committee (MPC) voted that the bank interest rate would make its tenth increase over the past year by 0.5ppts to 4%, being the highest level in 15 years.
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Discover how our debt recovery lawyers work with agents to recover unpaid service charges and ground rent. Call 0800 915 2537. Offices in Birmingham, Bristol, Cardiff, London, Manchester, Southampton & Taunton.
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Sarah Manley, partner and commercial property specialist, looks at the future of property management in the months and years to come following the impact of several national lockdowns and ongoing uncertainty.
The Bristol Property Inclusion Charter is the first city-wide property inclusion charter in the UK, intended to promote and drive diversity and inclusion.
Businesses looking to refinance or buy commercial property and hoping to take advantage of any potential upcoming interest rate cuts are being urged to ensure their business records are up to date.
Written by
Andrew Stokes
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Ground rent and service charge for later living developments
News
Historically, the costs of providing communal facilities have been recovered by way of a ground rent and service charge. However, the Leasehold Reform (Ground Rent) Act 2022 (the “Act”), will impact significantly.
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