Kensington - All you need to know - Flipbook - Page 25
23
annual percentage charge for every year or part year that you own the apartment up to
a capped percentage amount. The annual percentage charge and Deferred Fee cap is
di昀昀erent under each “Value in Choice” Option.
Riverstone will only charge the Deferred Fee for the actual number of years and days that
you own the apartment.
We set out below how Deferred Fees are calculated depending on which option you
choose under our “Value in Choice” o昀昀ering:
End of year
Option 1
Option 2
Option 3
% charge
per year
Cumulative
% charge
% charge
per year
Cumulative
% charge
% charge
per year
Cumulative
% charge
1
4%
4%
6%
6%
7%
7%
2
4%
8%
6%
12%
7%
14%
3
4%
12%
6%
18%
7%
21%
4
4%
16%
6%
24%
7%
28%
5
4%
20%
6%
30%
7%
35%
6
4%
24%
0%
30%
0%
35%
7
4%
28%
0%
30%
0%
35%
8
0%
28%
0%
30%
0%
35%
9
0%
28%
0%
30%
0%
35%
The worked examples below are for an apartment at Riverstone Kensington with a sale price
of £3,000,000. These show how the Deferred Fee will vary depending on how long you own
your apartment and the Deferred Fee Option you choose:
• If sold after 3 years:
Option 1: Deferred Fee = £360,000 (£3,000,000 x 12% (3yrs x 4%))
Option 2: Deferred Fee = £540,000 (£3,000,000 x 18% (3yrs x 6%))
Option 3: Deferred Fee = £630,000 (£3,000,000 x 21% (3yrs x 7%))
• If sold after 6 years:
Option 1: Deferred Fee = £720,000 (£3,000,000 x 24% (6yrs x 4%))
Option 2: Deferred Fee = £900,000 (£3,000,000 x 30% (5yrs x 6%)) - cap applied at end of Yr5
Option 3: Deferred Fee = £1,050,000 (£3,000,000 x 35% (5yrs x 7%)) - cap applied at end of Yr5
