Covenant Waiver Fees

Restrictive covenants are binding conditions that are written into a property's deeds or contract by a seller to determine what a homeowner can or cannot do with their house or land under particular circumstances, normally whereby one party promises to refrain from doing something in relation to their land for the benefit of another person's land without the consent from the person owning the land with the benefit of the covenant.

A waiver of any Covenant and payment of applicable fees must be agreed prior to commencement of any building work.

Section 1:
2/1 House Split:         

Applicable Fee: £ 1,500 + Vat

Covenant Split Fee: £60k

15% of Covenant split fee will be transferred to the appropriate Kingswood Road Association.

                  

1/1 House Development by Owner & Developer:

Applicable Fee: £5,000 (Includes the applicable Kingswood Heritage Legal Costs, remainder to appropriate Kingswood Road Association).

Extensions:

Increase in overall property size of less than 20% = Legal costs payable only - £100 approval certificate.

Increase in overall property size of greater than 20% = Legal costs payable (£100 approval letter + £2,500 to the appropriate Kingswood Road Association.

Changing Location of an Access(from Road):

Applicable Fee: £100 for an approval letter and subject to applicant providing a full safety review of the new access and an undertaking addressed to Kingswood Heritage to make good any repairs to the road surface for a period of 5 years.

Additional Access to Property:

Applicable Fee: £100 for an approval letter and subject to applicant submitting a full safety review of the new access and an undertaking to make good any repairs to the road surface for a period of 5 years. In addition, there is a contribution fee of £2,500 which will go to the appropriate Kingswood Road Association for wear and tear of the road. Under Section 1, Legal costs are included in our fee structure, however, if negotiations are protracted then our Solicitor will advise you of any additional legal costs payable.

Section 2:
Covenant Waivers:

Fees Payable for Deed of Release/Consent: £5,000

In all cases, from 21st May 2021 the above payments of the appropriate fees are due before permission is given for works begin.

Non-payment of the fees payable will incur an interest charge of 3% compounded, per year.

Charges for any other Covenant waivers will be reviewed by The Board as they arise.

Under Section 2, Legal costs are included in our fee structure, however, if negotiations are protracted then our Solicitor will advise you of any additional legal costs payable.

Approved by:  The Board of Directors, Kingswood Heritage Company Limited