Money Matters

By law, you must pay your fee each year from the sixth anniversary of completion onwards.

If you do not pay the fee, we have clear responsibilities under the terms of your buyers' charging document and mortgage deed to get back the fees you owe.

We will contact you regarding any payment you have missed for a failed direct debit. If we do not receive your payment, we can:

• add what you have missed to your repayment when you sell the property in the future;
• agree an amount, and a period over which we can collect this, to cover the arrears on top of your normal monthly payment of fees; or, if we cannot reach satisfactory arrangements
• pass your account to a debt-collection agency.

Some or all of the above may result in reducing the amount you receive when you sell the property.

If you are in arrears with HBD fee payments you could also consider discussing it with your existing mortgage lender.

If you staircase, or make a full repayment of the loan any fee arrears must also be repaid. If arrears are not repaid we cannot approve the staircasing or repayment transaction.

If you find yourself in financial difficulties you may fall behind with your repayments. This will put your account into arrears. We will try to offer you a range of options including debt counseling, access to independent financial advice and repayment plans so you can pay off what you owe.

If we make an agreement for you to repay any missed payments, it is entirely our decision. If we do agree a repayment plan, we will confirm this in writing and give you specific dates and acceptable ways to pay.

Your home may be repossessed if you do not keep up payments on a mortgage or any other debt secured on it.

Check that your mortgage meets your needs if you want to move, sell your home or you want your family to inherit it. If you die, your home will be passed on in the normal way under the terms of your will. Your estate will then pay the monthly fee. If you have not made a will, your home will pass on under the laws of intestacy.

If you are in any doubt, seek independent advice.