Party Wall etc. Act 1996 · Section 12
Security held safely, for both owners.
When a party wall award requires security for expenses, we hold it in a safeguarded escrow account at the Bank of England, released only when the award's conditions are met. There is no fee to either owner.
Building owner
Carries out the works
Adjoining owner
Protected against the cost of damage
Held between the two, not by either
A safeguarded escrow account at the Bank of England
Why UK Security for Expenses Scheme
Simple scheme rules
Our rules are short and clear, and they publish as a versioned document, so an award can be read against the terms in force when it was made.
Released only on the award
Money leaves when the award's release conditions are met and both sides have had their say. One party cannot move it alone.
Open a security for expenses account
There is no fee to either owner, and no obligation to go ahead once you have asked.