Debt Priority
Because your service charges have a number of different elements, we apply debt priority rules to determine which parts of your service charges are paid first. The priority rules are:
- Ground Rent
- Buildings Insurance
- Management
- Administration (annual)
- Communal Cleaning
- Repairs and Maintenance
- Major Works
- Fixed Administration Charges
In addition, the oldest debt is always considered to have been paid first. For example, a communal cleaning debt from 2 years ago will have priority over a ground rent debt from the current year.