Making the move to Keble Court

Choosing a retirement property is a big decision, and to ensure the process of choosing your new home and moving to Keble Court is as easy as possible, Anchor have compiled the following helpful information and offer support packages to assist new purchasers.

It is important you feel confident in your decision and we encourage you to seek independent advice and discuss your options with your family and your legal advisers in detail.

Cost of moving into Keble Court

The reservation fee for Keble Court apartments is £1,000.

10% of the purchase price of your apartment is payable on exchange and customers will also need to budget for Stamp Duty, their own legal and moving costs.

Ongoing charges while living at Keble Court

Ground rent
£500 per year, for the first 25 years.

This is payable on the 1 April each year. If you purchase your lease part way through the year a proportion of the amount due will be payable, at completion of your sale. 

Service charge
£96.79 per week (from 1 April 2023 – 31 March 2024)

All residents pay a contribution to the running costs of the facilities, support services and maintenance of the building and grounds which is known as the ‘service charge’. The service charge is divided into a number of components outlined below. The service charge account is raised in advance and is split equally between all of the apartments. 

Component Elements of the Service Charge:

• The Management Team
• Gardens and Grounds
• Communal Areas, Electricity, Gas and Water 
• 24-Hour On-call Response 
• The Handyperson
• Telephone, Television and Wi-Fi
• Insurance, Maintenance and Repair Contracts
   

Other costs at Keble Court

Car parking
There are a number of car parking spaces available at Keble Court and can be licenced for £500 per year. The licence is renewable every 12 months. One space can only be licenced per apartment. A number of restrictions apply, please speak to a member of the sales team.

Administration fee for resale
£660 incl. VAT

This covers the cost of dealing with the resale of a property and the associated administrational aspects. There may be other costs associated with additional solicitor enquiries that you will be made aware of when applicable.

Deferred sinking fund contribution
3% of the market value

The sinking fund is a fund which we will build up over time and which will be available to meet the cost of major repairs and refurbishment works which are not covered by the monthly service charge.

You should note that the amount in the sinking fund may vary from time to time and we can give no guarantee that there will be sufficient funds in the sinking fund to meet all of the costs of any work which may need to be done. Where there are not sufficient funds in the sinking fund the difference will be collected as an addition to the service charge.

A payment of 3% of the value of the property will be paid at the point of sale, as a contribution to the sinking fund. This percentage will be the higher of either the open market value or the premium of the property at the point of sale. e.g. If you sell your property for £400,000 x 3% = £12,000 would be owed to Anchor at point of sale.

More information

If you have any questions, or to discuss any of of this information in more detail, please contact our helpful team today on 01252 771 500.