Costs
Key Facts At a Glance
We aim to be completely transparent with our charges and want you to feel that you have a good understanding of all the costs involved. Below is a brief summary of those charges. They are correct as of February 2025. Please see the more detailed ‘Key Information for Purchasing a Property at Albion Meadows’ for more detailed information. We can post or email this to you and is provided in the information folder on visits.
We advise that you discuss all options with friends and family, as well as seeking independent advice, when considering moving to Albion Meadows, we believe that the more you know about us and your new home, the better.
Property and Purchase Information
Type of property- Independent Living Apartments Over 55s
Tenure- leasehold- 250 years
Status- New or resale
Occupancy – Normally single or double occupancy.
Purchase price- See the price list available from us and at Allan Morris Estate Agents.
Deposit- £2,500, Payable on new builds only and is nonrefundable
Stamp duty -please see Stamp Duty Land Tax Calculator
Other costs- solicitors fees & moving costs. Our partner estate agents is Allan Morris.
Monthly Costs Payable to Albion Lodge Ltd
- The Better Living Package (also know as the Service Charge ) Per apartment £780 per month- see the ‘Better living’ page for details
- Ground rent = £0 per year
- Heating and hot water are provided by a Biomass district heating system. The usage is metered and invoiced on the amount used.
- Premium services – see the ‘Better Living’ page for details
Please click here to link to the the ‘Better Living Package’ page for more details
Payable to an External Provider
- Council tax
- Contents insurance – dependent on your provider
- Utilities – electricity and water
- Telephone and broadband services through your chosen provider
- TV licence ( as applicable)
Charges Upon Selling the Property – at a Glance
There are no restrictions on sales except the over 55s clause and that all leasehold conditions are met.
The deferred fee is as follows:
| Year | Deferred Fee |
| 1 | 1% |
| 2 | 2% |
| 3 | 3% |
| 4 | 4 % |
| 5 | 5% |
| 6 | 6% |
| 7+ | 7% Maximum |
Estate Agency fee is dependent on the one you chose, our partner is Allan Morris. You will be responsible for all costs for the sale, including solicitor’s fees.
In the event of the property being empty only the ‘Practical Benefits’ part of the monthly charge will apply.
Subletting- subletting is not normally permitted without prior agreement.
Please note that Fees stated are correct as of February 2025 but may change. This is not an exhaustive list and other costs may be added at a later date.
For further information regarding costs please contact us at enquiries@albionlodge.co.uk or 01684 310 626