Spring Lane, Cippenham, Berkshire,SL1
For Sale - £700,000 Freehold

Compliance with the Digital Markets, Competition and Consumers Act 2024. The latest guidance specifically addresses the issue of transparency of fees, including referral fees, within the Estate Agency sector.

An Estate Agent should disclose in plain terms:

1. The price for its services, including any ‘compulsory’ extras; and
2. Where a referral arrangement exists, that it exists and with whom; and
3. Where a transaction-specific referral fee is to be paid, its amount; and
4. Where a referral retainer exists, an estimate of the annual value of that retainer to the estate agent or its value per transaction; and
5. Where the referral is rewarded other than by payment, an assessment of the annual value of the reward or the value of the reward per transaction.

RELOCATION AGENT NETWORK (RAN)

The Frost Partnership is part of RAN with around 750 associated offices throughout the UK, and as a member we receive a referral fee amounting to 20% of the recommended agent’s selling fee. This fee is agreed between the agent and the introduced seller. If we introduce a buyer to a member agent, we receive 5% of the sales fee. This is a national agreement between all members.

FINANCIAL SERVICES

We offer you and all our clients the opportunity to consult with independent Financial Services companies. It is your decision whether you choose to deal with one of these companies. Should you decide to use one of them The Frost Partnership will receive a referral fee of £360 inclusive of VAT, or a percentage of the fees generated by the Financial Services Company, whichever is the greater. You will not have to pay anything with regard to this to The Frost Partnership.

SOLICITORS

We offer you and all our clients the opportunity to consult with a panel of conveyancing solicitors. It is your decision whether you choose to deal with any of the panel of solicitors. Should you decide to use one of them, The Frost Partnership will receive a referral fee of up to £390 inclusive of VAT from them. You will not have to pay anything with regard to this to The Frost Partnership.

In regard to both of the above – we will not discriminate or threaten to discriminate against any client because the person is, is not, or is unlikely to be accepting services that are directly or indirectly offered. We will not discriminate against any person under the definitions of The Equality Act 2010.

AUCTIONS

The Frost Partnership offers clients the services of Go To Auctions. The Frost Partnership will receive 50% of Go To Auctions’ fee which is charged to the buyer. Sellers should be aware that this method of sale could result in a higher or lower price being achieved for their property than the conventional method of selling.

All clients have the option to deal with any of the above companies or seek alternative providers of these services.

We are required by law to conduct anti-money laundering checks on all those selling or buying a property. Whilst we retain responsibility for ensuring checks and any ongoing monitoring are carried out correctly, the initial checks are carried out on our behalf by Lifetime Legal who will contact you once you have agreed to instruct us on your sale, or had an offer accepted on a property you wish to buy.

The cost for the above checks is £65 (incl. VAT), which covers the cost of obtaining relevant data and any manual checks and monitoring which might be required. We will receive an administration fee from the fee taken by Lifetime Legal for work undertaken by us. This fee will need to be paid by you in advance of us publishing your property (in the case of a vendor) or issuing a memorandum of sale (in the case of a buyer), directly to Lifetime Legal, and is non-refundable.

The Frost Partnership believes in complete transparency in relation to our upfront fees and detail below those you will incur:-



NEW ASSURED SHORTHOLD TENANCIES (ASTs) SIGNED ON OR AFTER 1 JUNE 2019

Holding Deposit (per tenancy) - One week's rent.

This is to reserve a property. Please Note: This will be withheld if any relevant person (including any guarantor(s)) withdraw from the tenancy, fail a Right to Rent check, provide materially significant false or misleading information, or fail to sign their tenancy agreement (and / or Deed of Guarantee) within 15 calendar days (or other Deadline for Agreement as mutually agreed in writing).

Security Deposit - (per tenancy.) Rent under £50,000 pa. - Five week's rent. This covers damages or defaults on the part of the tenant during the tenancy.

Security Deposit (per tenancy.) Rent £50,000 or over pa - Six week's rent.
This covers damages or defaults on the part of the tenant during the tenancy.

Unpaid Rent - Interest at 3% above the Bank of England Base Rate from Rent Due Date until paid in order to pursue non-payment of rent. Please Note: This will not be levied until the rent is more than 14 days in arrears.

Lost Key(s) or other Security Device(s)
Tenants are liable to the actual cost of replacing any lost key(s) or other security device(s). If the loss results in locks needing to be changed, the actual costs of a locksmith, new lock and replacement keys for the tenant, landlord any other persons requiring keys will be charged to the tenant. If extra costs are incurred there will be a charge of £15 per hour (inc. VAT) for the time taken replacing lost key(s) or other security device(s).

Variation of Contract (Tenant's Request).
£50 (inc. VAT) per agreed variation. To cover the costs associated with taking landlord's instructions as well as the preparation and execution of new legal documents.

Change of Sharer (Tenant's Request)
£50 (inc. VAT) per replacement tenant or any reasonable costs incurred if higher. To cover the costs associated with taking landlord's instructions, new tenant referencing and Right-to-Rent checks, deposit registration as well as the preparation and execution of new legal documents.

Early Termination (Tenant's Request)
Should the tenant wish to leave their contract early, they shall be liable to the landlord's costs in re-letting the property as well as all rent due under the tenancy until the start date of the replacement tenancy. These costs will be no more than the maximum amount of rent outstanding on the tenancy.

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However, if you have signed a rental agreement via The Frost Partnership prior to 1st June 2019, the following charges apply to each tenancy until 31st May 2020.

Renewal Fee - £75 plus VAT (£90)


If you require further information on any of the above fees please contact one of our sales advisors who will be happy to help.