Anyone bought a FirstPort/OM/Peverel flat inthe last 2 years? / Restriction on title?

drspa44

Hi all,
I am waiting 4 months to exchange on a flat managed by FirstPort. When it was built, they were named Peverel OM and in the register of title from the land registry, there is a 'restriction on disposition' saying that only Peverel OM can agree to make me the proprietor.

Apparently this is a big problem because they rebranded to be FirstPort. Are my solicitors being pedantic and just trying to scoop extra fees from me or does this actually have to be amended before exchange? Surely the fact that they have officially renamed themselves makes this a non-issue: https://beta.companieshouse.gov.uk/company/02061041 (under previous company names).

FirstPort is quite big - has anyone else been in the same position? Or can any experts advise?

guest3

I bought a flat nearly 2 years ago in a block owned by E&M and managed by First Port, then OM property management.

I was under the impression that First Port are only the managers for the building and E&M are the freeholders, and E&M haven't rebranded. I was also under the impression (based on the research done by another leaseholder) that E&M and First Port are owned by the same company.

I don't know if any of this helps or is relevant, but we're also currently in the process of removing First Port as managers because they're !!!!.

drspa44

guest3 wrote: »

I bought a flat nearly 2 years ago in a block owned by E&M and managed by First Port, then OM property management.

I was under the impression that First Port are only the managers for the building and E&M are the freeholders, and E&M haven't rebranded. I was also under the impression (based on the research done by another leaseholder) that E&M and First Port are owned by the same company.

I don't know if any of this helps or is relevant, but we're also currently in the process of removing First Port as managers because they're !!!!.

That is the same arrangement I have, although E&M I believe represent the freeholder, who in my case are Proxima (same company, same address).

I think were I to try to buy the freehold, I would have to persuade 100 or so others to join me to get a 50% majority, so it's not really an option for me.

Regarding the change of name, I notice on the companies house page, there are official documents that say they changed their name. Hopefully this will be enough...

Blackjack_Davy

guest3 wrote: »

I don't know if any of this helps or is relevant, but we're also currently in the process of removing First Port as managers because they're !!!!.

E&M/FP are running this place too, or they're supposed to be. Building is a mess hasn't been painted in years the paint is flaking off the window frames in great big chunks, the hallways are a disgrace there was broken glass took best part of a month before anyone came to clean up the mess!

To top it all I've just receive a letter from E&M stating they're doubling the Ground Rent from £50 to £100 a year! On top of the £700+ First Port are charging for doing !!!!!! all per year. :mad:

Trying to get rid of them too but it seems there aren't enough flat owners on side to tip the balance (half of the flats seems to be rented out and nigh on impossible to trace the landlords)

I'd advise anyone to buy a Freehold flat only and find somewhere where the residents manage the maintenance themselves, hard though that may be to find. And avoid E&M/FP properties.

drspa44

10 days later and still no response from Firstport! Not even an acknowledgement of the enquiry. Surely they've had to respond to these before! :mad:

The register of title says:
RESTRICTION: No disposition of the registered estate (other than a charge dated contemporaneously with a transfer) by the proprietor of the registered estate or by the proprietor of any registered charge is to be completed by registration without a certificate signed by the secretary or other proper officer of Peverel OM limited of [address] that notice of such disposition has been given to the said Peverel OM Limited

And the problem is, they've officially since changed their name to FirstPort. My solicitor raised the enquiry: "We note that a Certificate of Title is required from Peverel OM Limited. However, the agents are First Port. The restriction needs to be amended on the register or we will be unable to comply with the restriction. Please contact First Port and ask them how they intend to deal with this.".

As property managers have no incentive to respond quickly or at all to such queries, I'm not surprised that they haven't – even though it could be a single sentence response. If they never respond, is the flat unbuyable/unsellable or ought my solicitors accept that the land registry will know their name has changed?

Shahni

I'd imagine you'd just need a form from Firstport to amend the restriction. RX2 maybe? Hopefully Land Registry Rep can assist.

Firstport is a large company, it must come up a lot. If your solicitor phones them they may be more helpful. Emails and letters are easily allocated as low priority. Someone on the phone is more difficult to ignore.

drspa44

So a 'certifiate of incorporation of change of name' from https://beta.companieshouse.gov.uk/company/02061041/filing-history wouldn't suffice? My solicitor says this enquiry has to be dealt with entirely by the seller for liability reasons.

drspa44

I am the buyer. My solicitor raised the enquiry and FirstPort haven't responded to the seller's solicitor, according to my solicitor. They also said if I try and contact the seller's solicitor directly, they wouldn't talk to me.

The land registry told me on the phone that a signed certificate of transfer from firstport, plus the change of name certificates from companies house would definitely be enough proof. But my solicitor doesn't trust what the LR says on the phone.

Hoploz

If you are the buyer, sit back.
It's the seller's problem.

drspa44

Hoploz wrote: »

If you are the buyer, sit back.
It's the seller's problem.

Sit back and let my mortgage expire

eddddy

drspa44 wrote: »

Sit back and let my mortgage expire

The person you need to chase is the seller - ideally via the EA. They should be chasing their freeholder and/or solicitor.

The EA will be on your side. They don't want your mortgage offer to expire - in case you decide to walk away... and their commission walks away with you.