Service Charges (general)

The annual service charge becomes due in two equal parts on 1st November and 1st May in each financial year.

Service charges can be paid in one go for shareholders convenience.

Service charges can also be paid by standing order but only if paid as described below.

Discounts

A discount is applicable to all shareholders who pay their service charges on time and who are not in arrears as follows:

Each half yearly payment will qualify for a discount if paid by 15th November and 15th May. The second half-year payment will only qualify for the discount if the whole of the first payment (and any other arrears) have been paid up by the time the second payment is due, whether the first payment qualified for a discount or not.

Standing order payments automatically qualify for a discount. The first standing order payment of £12.00 MUST be made on 15th November and be followed by 10 further consecutive equal monthly payments of £12.00 and one final payment of £8.00. No other standing order arrangements will qualify for a discount.
A correctly stated standing order instruction form for your bank will be distributed to all shareholders with their invoice.

Whole year payments will attract the whole year discount if paid by 15th November. They will qualify for a half-year discount if paid by 15th May.

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The service charge for the financial year November 1st 2011 to October 31st 2012 has been set as follows:

The annual service charge is £170.00 and it is payable in two equal parts of £85.00.

A discount of £15.00 will be deducted from the service charge for each half yearly payment made on time (see above)

Broomfield Road from Honeysuckle Way