FAQs for residents...

Received a Letter from us? Read our frequently asked questions

What is service charge?

Service charge is paid in order to maintain and upkeep the common parts on the development, ie. lifts, stairwells, gardens. It is paid to the Management Company or Freeholder. The areas the service charge covers is set out in each person’s individual lease (for leasehold properties) or transfer deed (for freehold properties)

What is ground rent?

This is paid to the Freeholder for ‘renting’ the grounds the property is on. The amounts to be paid are set out in the lease.

What is buildings insurance?

If the lease states the Freeholder is responsible for insuring the building, they would pay for the insurance premium and then divide this to be paid by each leaseholder.

What is a reserve fund/sinking fund?

Many leases provide for the landlord to collect sums in advance to create a reserve or ‘sinking’ fund to ensure that sufficient money is available for future scheduled major works, such as external decorations or lift replacement. The lease will set out the sums involved and when regular maintenance works are due.

Why does the lender make payment?

The lender will make payment to PDC in order to prevent the landlord from forfeiting the lease. They are protecting their interest in the property and will settle the arrears on the owner’s behalf.

What is a Lease?

A lease is a contract between the landlord and the leaseholder agreeing ownership of a property for a fixed length of time.

What is a Management Company?

A company set up in order to manage the development in terms of maintenance and repairs. The directors are usually residents in the estate.

What is a Freeholder/Landlord?

The Freeholder owns the entire property and land (e.g. a block of flats, a house).

What is a Leasehold property?

The building and land is owned by a Freeholder and the individual flat is leased to the leaseholder

What is a Freehold property?

The building and the land is owned outright.

How do I make a complaint?

Property Debt Collection Limited is committed to providing an excellent service. If for any reason you are dissatisfied with the service you have experienced we would ask that you inform us so we can evaluate and monitor our processes to ensure the highest standards are both achieved and maintained.

Should you wish to raise a complaint please contact us and ensure you include your telephone number and email address:
By phone: 01992 449 403 (08.00 – 18.00 Mon-Thurs 08.00- 17.00 Fri)
By email: customersatisfaction@propertydebt.co.uk
By post: Customer Satisfaction, Property Debt Collection Limited, Sherwood House, 5 Bluecoats Avenue, Hertford, Hertfordshire, SG14 1PB.

Once received, your complaint will be logged by one of our team who will attempt to resolve your complaint within 3 working days. Upon resolution, we will issue you with a written summary resolution communication confirming your complaint has been closed.
After 3 working days in the unlikely event your complaint remains unresolved, the matter will be escalated to a member of the Management Team who will conduct an investigation into the issues you have raised. A final written response will be issued within 8 weeks of the date the complaint was logged.

If you are dissatisfied with our final response or summary resolution communication you may be entitled to refer your complaint to the Financial Ombudsman Service free of charge but, you must do so within 6 months of the date of our final written response or summary resolution communication.

If you do not refer your complaint in time the Ombudsman will not have permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was a result of exceptional circumstances.

The Financial Ombudsman Service can be contacted as follows:

By phone: 0300 123 9123
By email: complaint.info@financial-ombudsman.org.uk
By post: Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London. E14 9SR
Website: www.financial-ombudsman.org.uk

Telephone calls made to Property Debt Collection may be recorded for training and monitoring purposes