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Factoring

Marta posted on the 3/06/2018 11:58:00 AM

Hello,
I have been living on Garthland Drive for the last 10 months and so far the charge from our factor has been astronomical - well over a 100 every month on average. In my experience the average monthly charge should be 30-50 pounds. Would people be willing to share their experience and recommend factors that work in this area, please? I'd like to make a case to the neighbours to switch the factor //


5 Replies :


#1 - anon replied on the 3/06/2018 6:27:58 PM

Marta, we switched from a pretty useless factor to Milnbank Housing Association. We had to get agreement from all owners (or maybe it was just a quorum) and then Milnbank carried out an assessment of the building etc and advised what works and costs would be required before they would take the block on board. I think they tried to change the deed of conditions, so we were all equal charged but those with smaller properties disputed this, so the charges were proportional to property size.
They seem to be a much more proactive factor, though they recently painted our close the Milnbank colours (not a very nice brown) as they said they didn't have enough response from owners, so it defaulted to their corporate colours but overall, their service has been better. I think I pay about £40pm or so and then extra for any additional works as required.
Hope this helps.


#2 - anon replied on the 3/06/2018 6:29:07 PM

firstly I would be getting in touch with the factor and finding out what the £100 is paying for as it may be for something done in the past that you are not liable for, and exactly how much their yearly factoring price is.
next get some quotes from other factors - milnbank is a good one, you will have to organise a meeting with all the home owners in your close.
many closes in the area no longer have a factor and have agreed to pay for communal repair bills as they arise, while other closes "self factor" and everyone pays into a communal repair fund by direct debit that will pay for the bills, but in that case someone has to take the responsibility of running the fund and arranging to pay the bills.
hope this has been of some help


#3 - DC replied on the 4/06/2018 11:28:49 AM

If you don't have a lift then £100 a month is expensive. First check your title deeds to see what it says about factoring (if anything), there may be a quorum number of owners stated that you must get signed mandates from to change or you may need to go for the majority/all owners. Milnbank would be the best choice for a tenement and would tell you whats involved (when you know what if anything is in your deeds). //


#4 - Jim replied on the 4/06/2018 2:00:26 PM

// James Gibb are excellent. Back close is now spotless, very prompt services when required and cost is around £40 per month. //


#5 - anon replied on the 5/06/2018 10:29:30 AM

100 a month for a tenement is way too much, it may include past repair costs which if you are new to the property you shouldn't be liable for, you should be starting on a new cleared account.

Milnbank are pretty good, our block moved to them last year. A survey is done to identify essential repairs, but you can get a council grant for half the repair costs. Then Milnbank will charge about 40 per month, but that includes getting the close painted, cleaning the close once per week and buildings insurance. Dont think our stairs close had been painted in about 20 yrs, so as quite glad to see the magnolia paint!


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