About Security for Expenses
Security for Expenses Ltd was established in 2016 by Mikael Rust, a Chartered Building Engineer and founding fellow of the Party Wall Academy, with 40 years’ experience in party wall matters. It was born out of frustration at the absence of any simple, regulated and readily accessible means of arranging security for expenses under the Party Wall etc. Act following the warning issued in December 2014 by the Solicitors Regulatory Authority against holding security in solicitors’ client accounts. Our Service has been developed in wide consultation with eminent party wall surveyors and specialist solicitors and barristers.
The Service has been very well received by Owners, surveyors and the legal profession. In response to requests from our Customers we have extended our stakeholder service to cover security held under licences for access, scaffolding and alterations, payments under various forms of Building Contract, highways and similar performance bonds, court orders and rent deposits.