Managment companies

Slayerx

This is a strange thread but I really feel a need to help people I speak to on daily basis. I work for a fairly well known conveyancing firm Hammond's direct and I deal with customers doing remortgages but there's one thing I want to know more about and if I can help complain to someone.

On many leasehold properties mainly management companies place restrictions on properties basically meaning they have to give consent to a remortgage or that they need to just be notified that the charge holder is changing and theses companies are from what customers tell me diabolical.

Most customers have a tale of dispute as they pay theses companies money to maintain the grounds etc and they simply get paid and dont do anything with the money.

Who are theses companies regulated by?

If they arent regulated by someone why?

MortgageMamma

I too have many tales of woe with management companies, especially when they delay completions enormously. I don't think they are regulated whatsoever or they wouldnt get away with it in first place.

I've used hammonds direct loads, and its great to find a conveyancer with a conscience... can we all have your direct number??

Slayerx

I'm not a conveyancer yet I take calls from borrowers, lenders and brokers or remortgage files and help with queries.

Could I of possibly spoken to you?

Miss_Penny_Pincher_2

This is scaring me - our property is leasehold house with Management Company. Solicitor warned us they are a bunch of crooks but as long as pay lease on time twice a year should be ok. He didn't mention any potential issues when come to remortgage! Do you think I check this out as we are planning on remortgaging in April 2008. Do you need to let them know if you are staying with the same mortgage company but taking on different mortgage terms?