New Cap on Charges to Leaseholders for Major Works

In October 2013, the government consulted on capping the charges to leaseholders for major works. There were already directions in place that capped leaseholder for future major repair, maintenance, or improvement works at £10,000 when they were wholly or partly funded by specific named government funding programmes.  These directions, last revised in 1999, have been updated to include all future central government assistance for works of repair, maintenance or improvement provided by the Secretary of State or the HCA.  From 12 August there will be two caps:

·         £15,000 for homes in London

·         £10,000 for homes outside of London.

This acknowledges the higher prices in the capital, and that the nature of the stock, with many homes in tower blocks, makes it more expensive to repair and maintain. Read more on the Housemark website.