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Costs of owning & selling a Hanover property

As well as the usual costs associated with purchasing a property, such as the initial purchase price, stamp duty (if applicable) and solicitor’s fees, your lease may also mention an exit fee or administration fee, which is payable back to Hanover.

You will be responsible for internal repairs and the usual costs of running a home, for example council tax, electricity and telephone bills.

Each year, on a calendar monthly basis, you will also pay Hanover a service charge to cover the costs of providing and maintaining the services at your estate. You may pay a contribution towards the estate's reserve fund within this service charge, or you may be asked to make a one-off contribution towards the reserve fund when the property is sold. Please refer to the terms of your lease for more information.

You may also be required to pay us a ground rent. Your lease or transfer paperwork will explain the fees and how much you will have to pay.

More detailed information is provided in our Homeowner section. Our Sales Service team can be contacted on 01480 223179 or via email at sales.services@hanover.org.uk