Management agent information packs

adonis10

So, I'm selling my flat and have been informed that I need to pay for info packs from the managing agents. Annoyingly I have two; one who deals with the day to day maintenance etc. and one who simply collects the ground rent once a year and arranges and collects the building insurance once a year - £140 (inc VAT) and £240 (inc VAT) respectively.


What on earth are these packs for? I fail to see what £240 will buy me apart from them saying "we collect the ground rent and buildings insurance".


I know it's money for old rope, but some sort of justification would help me part with the cash!

joeistheone

That's annoying, and also strange to have two managing agents. I thought having to pay £275 + VAT for mine was high!


I gather it's part of the process for a conveyance to have to ask the managing agent (plural in your case) to independently confirm service charges and ground rent etc are up to date - there is a standard form LPE1 that has a load more questions they have to answer. The mortgage lenders usually require this, so no way around it even if the buyer for whatever reason decided to ask their conveyance/solicitor not to bother!

adonis10

joeistheone wrote: »

That's annoying, and also strange to have two managing agents. I thought having to pay £275 + VAT for mine was high!


I gather it's part of the process for a conveyance to have to ask the managing agent (plural in your case) to independently confirm service charges and ground rent etc are up to date - there is a standard form LPE1 that has a load more questions they have to answer. The mortgage lenders usually require this, so no way around it even if the buyer for whatever reason decided to ask their conveyance/solicitor not to bother!

Delightful. What a waste of £380!


Two agents is because the freeholder decided to change over the management company, one of which is a company the freeholder has close links to (nudge nudge, wink wink) so assuming it's a legal way of scamming more cash from us. They appointed the new one to collect ground rent and deal with the buildings insurance (which doubled + £25 admin fee) and left the existing one in place to deal with day to day maintenance etc.


Ho hum, freehold it is next and avoid these crooks.