Leaseholders' Handbook - Plymouth Community Homes
Leaseholders' Handbook - Plymouth Community Homes
Leaseholders' Handbook - Plymouth Community Homes
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Payment methods for major works<br />
<strong>Plymouth</strong> <strong>Community</strong> <strong>Homes</strong> leases say that all<br />
service charge invoices should be paid in full within<br />
21 days of issue.<br />
<strong>Plymouth</strong> <strong>Community</strong> <strong>Homes</strong> is pleased to offer a<br />
flexible range of payment options for those<br />
leaseholders who live in their flats as their principal<br />
home (your main address) and who face difficulties<br />
paying in full within 21 days. These are:<br />
• To pay by a Deferred Payment Plan of up to 3<br />
years. Regular monthly payments are made and<br />
no interest is charged to leaseholders.<br />
• To pay by a Deferred Payment Plan of between<br />
3 and 5 years by regular monthly instalments. In<br />
this case <strong>Plymouth</strong> <strong>Community</strong> <strong>Homes</strong> will take<br />
a Legal Charge over the flat as security and<br />
legal costs will be charged to the leaseholder.<br />
Interest is payable on this type of Deferred<br />
Payment Plan.<br />
• For leaseholders who are over the age of 60 it<br />
will be possible to pay interest only on the<br />
amount of the invoice. In this case, <strong>Plymouth</strong><br />
<strong>Community</strong> <strong>Homes</strong> will take a Legal Charge<br />
over the flat and the cost of this can be paid<br />
separately or added to the amount of the<br />
invoice. The amount of the invoice must be<br />
paid when the property is either transferred to a<br />
third party or sold.<br />
• For those leaseholders who are in genuine<br />
hardship, because they are on very low incomes<br />
or in receipt of certain benefits, an application<br />
can be made for assistance from the Service<br />
Charge Hardship Scheme. This scheme does<br />
not take away the responsibility for paying the<br />
invoice, but allows those who qualify to pay an<br />
agreed regular amount that they can afford until<br />
the account has been fully paid.<br />
Those leaseholders who do not live in the flat as<br />
their principal home must pay all major works<br />
invoices in accordance with the terms of the lease<br />
for their flat. This means that full payment must be<br />
made within 21 days.<br />
<strong>Plymouth</strong> <strong>Community</strong> <strong>Homes</strong> will accept<br />
whatever choice of principal home a leaseholder<br />
has registered with HM Revenue and Customs.<br />
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