Factoring Fees (Scotland)

Trixy

Hello

We have just received our quarterly factoring fee from our factors. We live in a semi-detached house & the maintenance bill is apportioned, therefore, we are partly responsible for two small pieces of land at either end of our street.

We purchased our house 12 years ago and these factors were appointed by the builders. There was a lot of back & forth with them initially because they couldn't actually tell us what we were paying for for about 6 months after we purchased the house.

Fast forward 12 years & the bill we received states we must now pay Owners Public Liability Insurance to cover any claims made for accidents on common grounds. They claim it is in our Title Deeds. I have checked our missives which refer to a factor being appointed & we are responsible for paying for the upkeep of common grounds etc & their professional fees. Nowhere does it state that we must pay Owners Public Liability Insurance.

They do not explain why we now have to pay this, whether this is a yearly or quarterly charge, how they apportioned cost (although it appears there is a blanket charge as other neighbours who pay more in maintenance costs as they have more common ground have been charged the same as us for this public liability insurance) or given a breakdown of the premium for the year. Surely they are obliged to tell us this information?

Also, can they backdate this for the 12 years we've been here but never been charged for it?

davidmcn

Trixy wrote: »

They claim it is in our Title Deeds. I have checked our missives

The missives aren't your title deeds. They're just the contract for your purchase. You'll be wanting to look at the Deed of Conditions for the estate.

Also, can they backdate this for the 12 years we've been here but never been charged for it?

Is that what they're doing? If they've been paying for it then in theory yes.

Not sure what breakdown of the premium you'd expect beyond that you're paying x% of the annual premium of £y, but they ought to be able to give you some details of the insurance cover they've arranged. There's nothing in principle unusual or objectionable about having public liability insurance.

Trixy

Thank you.

We don't have a problem with it in theory...but why after 12 years is the issue.

They haven't told us what the premium is or how the cost was apportioned to each owner or how often this charge will be invoiced to us.

I'll have a look for the Deed of Conditions for the estate tomorrow but I'm not sure if we have those.

googler

Trixy wrote: »

I'll have a look for the Deed of Conditions for the estate tomorrow but I'm not sure if we have those.

If you bought with a mortgage, your lender will have your deeds if they are held in physical form.

Ask for a copy from your lender, or from Registers of Scotland

Trixy

Thanks very much. I've requested our deeds from Registers of Scotland.

Jacob_Smith

Not sure how to create a new post so have piggy backed this. Apologies.
I sold my flat in April and received a final invoice from the factor in early September which included return of my float.
I have now received an invoice relating to work( emergency common lighting test) which was apparently carried out in March.
I appreciate I was still the owner when the work was carried out but am I liable considering they already finalised my contract?. Surely they presumably knew this bill would be coming in and should have witheld part of my float in anticipation. Also, where do I stand regarding any other 'historic' fees which may arise.
Once again, apologies for hi jacking this thread. Perhaps someone could redirect it if needs be.
Many thanks. Jac

davidmcn

Jacob_Smith wrote: »

I have now received an invoice relating to work( emergency common lighting test) which was apparently carried out in March.
I appreciate I was still the owner when the work was carried out but am I liable

Yes, you're liable for everything done while you were the owner. That's what your missives will (almost certainly) have said.

Jacob_Smith

Thanks, its not a large amount , I was just curious. There must be limit though. The factors should know which bills are due for outstanding work and allow for that when finalising invoices. I mean what happens 18mnth from now if an unpaid bill crops up for work communal work carried out when I lived there.

davidmcn

Jacob_Smith wrote: »

There must be limit though.

Yes, it's the usual five year limit for debts.

Jacob_Smith

davidmcn wrote: »

Yes, it's the usual five year limit for debts.

👍thanks again.
Factoring is just one big rip off. I've lived in 2 factored developments and in both cases found myself paying extortionate fees for not a lot of work. Tied into a contract by the missives. Never again.