Owning your own home

I live in a new build (shock horror!) of 6 flats, it is very nice and we've had very few problems

however, the developer (bit of a 1 man band) hasn't managed to sell the last flat (number 5 is supposedly pending completion) and is still running the "management scheme"... (I don't think he ever intended to be running it this long but brexit and then corona put some uncertainty on sales etc).... either way - despite my numerous requests to see proof of his expenditure of the service fees, he has yet to do this. I know it is within my rights to see this breakdown of the accounts but how can I get him to actually show them? what proceedings do I need to threaten him with?

it isn't a lot of money at the moment (£~220 a quarter) but he sent his fucking kids round to do the gardening the other day and his wife to vacuum in the communal halls... there is also a small leak into the carpark which needs fixing - which should be covered by the NHBC warranty, rather than our service fees. I just don't want him pinching money from the service fees pot to fix shit which he should be reaching in his own pocket for. he should also be paying the service fee on flat 5 and 6

I would think very carefully about engaging with this if you want to move in the not too distant future. Yes there is a mechanism that allows you to force some visibility of the accounts and expenditure but you are effectively starting a dispute with the freeholder and your buyer, when you sell, will either find out about this or you will have to tell them.

sorry I should have mentioned @Howard - we have a share of the freehold and are on very good terms with our neighbours

The management company will have to file accounts and they should be publicly accessible as I understand it.

They are also obliged to give each leaseholder a breakdown of expenditure each year.

If they are not doing that, can you alongside the other residents sack the management company, who is also the builder?

Set up as you describe it seems weird.

I’d be careful assuming all mortgage providers are the same. When everything is rosy and you can pay; there is no issue. If something changes and you cannot pay; you want to have an understanding provider. Not all providers will be understanding/accommodating.

We had a mortgage offer yesterday, 3 weeks after applying directly.

The longest part of this was lender's survey / valuation which had a 2 week lead time. More complex financial arrangements (self-employed, furlough) would likely take longer overall.

Any time before 6 (or 5, if your buyer wants evidence of a mortgage application, for broker)

I'd speak to the mortgage advisor before 1 so you have a solid idea of your budget, permutations, etc. Using a free one is fine if your circumstances are straightforward (e.g. PAYE, standard property, etc)

Solicitor is going to be at the same time as 2. When you accept an offer the legal stuff on the sale starts. I'd have someone lined up at that point so it's ready to go.

Also, just in case you're not planning to, I'd start viewing properties ASAP. That can inform you on what price you need, whether the mortgage is feasible, etc

I'll PM you details of the solicitor I used (someone else on here recommended him and he's been good). I wouldn't worry about location, I've never met my solicitor and the mortgage advisor I met for some preliminary chats and then all the coronavirus stuff kicked off and it was all over the phone anyway.

I would do it at any point up to number 5 - you can get it all sorted in a day.

We used Independent James as mortgage broker and they were good

re Timings. Also be aware that it's holiday season. I don't think I've ever had a sale/purchase go through without someone going on holiday during it - solicitors usually - and adding a week+ delay. Make sure whoever you use has cover for this.

So my place is sold. I've been viewing places for the past few days, saw somewhere yesterday I was prepared to put an offer in for, agent told me they'd get back to me last night, nothing. This morning I've had to chase, oh he'll call you back.

Also received email from an agent who I decided to not go with stating he was 'extremely frustrated' that I didn't list the property with him as I thought he had overpriced it.

The fuck is wrong with these people?

Sorry for the rant, frustrated.

Some estate agents are monstrously busy.
An agent friend that I know sold 57 houses last month, with a team of only 5. Best ever month, now they have practically nothing left to sell.

Also perhaps some estate agent staff are still furloughed?

that is exactly it - it is a weird setup. it was a temporary solution setup while the other flats hadn't been sold

I just want to see where our money has been going - but how can I get that info if he hasn't made it available? what would the proceedings be

I just want to see where our money has been going - but how can I get that info if he hasn't made it available? what would the proceedings be

Simple answer - ignoring all consequences of doing so and assuming that the management co has failed to meet its obligations regarding visibility of accounts and expenditure - would be to get your solicitor to write a carefully worded letter to the management company. Which is presumably his ltd building co. And then see what happens.

You and the other freeholders should probably sack the management company though if it's not doing what is legally required of it.

£220 a quarter is mad cheap - is that locked in or can it be increased if another management co were to come in?

£220 a quarter is mad cheap

Yes. There are legit reasons to kick up a fuss though, say if you were concerned about the quality of the services provided to the point where the building or grounds were being damaged.

If the management co situation is up in the air it will also make it hard to sell.

I just want to see where our money has been going - but how can I get that info if he hasn't made it available? what would the proceedings be

A slightly less nuclear option would be to write to him and mention that managing agents are obliged to produce a record of service charge accounts every year and asking when he was planning to do this.

I agree with Howard that anything more formal runs the risk of destabilising things. But this might get something a little less guarded out of him.

Thank you!

About to embark on a difficult conversion / building project with no money. Can anyone recommend a good lender for construction loans? Currently talking to Ecology but wouldn't mind having more than 1 option. Wasted months talking to 2 mortgage advisors and 1 mortgage broker.

Also: anyone have good experiences with a company that does SAP EPC? (A requirement for the lender mentioned above.)

thnx

Paging @JonoMarshall who has experience here...

how do i pick a tradesperson without it triggering my anxiety that almost every one i've had in (across various remits) has been a bit of a charlatan? even those with stellar ratings on trusted trader sites and who come via personal recommendation? i've had maybe two that were excellent and the rest were, frankly, a nightmare. i need someone to check the external render and lead roof flashing for cracks in the (never-ending) hunt for the (possibly multiple) sources of damp and i don't want to waste money and have to argue that they haven't done what they said on the quote again

@Sumo might be able to give you some pointers?

Weeeell I used to work for MyBuilder, if you haven't already you could try that site cos the risk of negative feedback can keep some people honest. My only actual advice would be to avoid anyone that sells themselves as a damp proofing specialist because it's 99% bullshit and con artists.

People in the DIY thread might be able to suggest someone. @7ven had some lead roof work done recently iirc

But yeah feels re finding tradespeoples