Manter
Lunch Mob
next road to Leanderman's road. Clue's in the nameArodene Rd isn't exactly next door to the High Trees estate anyway
Work starts on the eagerly awaited new Foxtons office on Brixton Road
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CH1
"Red Guard"(NLYL)
I'm beginning to despair at my own lack of taste.
Obviously the Dome/Loughborough Hotel Ballroom has the Full Monty, but I thought this High Trees flat was remarkably over the top (in a nice kind of way) - kind of camp/techno/Laura Ashley.
Given that normal practice on Loughborough Estate (my own local area) seems to be not to quote service charges and to state "cash buyers only" does anyone know what service charges are like in High Trees, and whether this property too would be "cash buyers only".
leanderman
Street Party: July 2
I suppose every type of property owner faces the risk of a big bill at some stage.
Manter
Lunch Mob
Yeah, but ex la you can get £17k for changing someone else's windows, with no option to limp on into the next year in the hope you'll have more money.
leanderman
Street Party: July 2
This is the same argument as the one over travel insurance!
Manter
Lunch Mob
no!
if you're in a LA freehold flat, they can decide to (e.g., thinking of Tulse Hill) rebuild a bunch of lanscape-y things they let fall over and replace all the windows. They take the cost they have got from their contractor, which will be extortionately high for a poor quality job, divide it by the number of flats, bump it up a bit for the private leaseholders and tell you you have 6 months to pay a big number. Whereas if it was your flat you might just hang thinker curtains and wear a jumper until you could afford to do the windows….
no insurance involved!
leanderman
Street Party: July 2
Yes, this danger is worth bearing in mind.
My point was that it's catastrophic thinking ... like a medivac.
Manter
Lunch Mob
I know three people who have had huge bills- all in North London, as Lambeth are too busy wandering around wondering which properties they own
I know someone who has had to sell up in Beckenham after a £17k bill for the replacement of a lift. She lives on the first floor and always takes the stairs. The only visible difference is new buttons to comply with disability legislation.
The housing association is, without doubt, a bunch of sharks and chancers. The lift company has a director who is also a director of the housing association.
We very nearly bought in Dorchester Court, before the above happened, but were warned off by, who I'm sure some will know, Sarah Savaskan from the NCT. She reckoned you'd want to pay £100k less than market value and hang on to that cash for repair bills as and when they arrive.
The housing association is, without doubt, a bunch of sharks and chancers. The lift company has a director who is also a director of the housing association.
We very nearly bought in Dorchester Court, before the above happened, but were warned off by, who I'm sure some will know, Sarah Savaskan from the NCT. She reckoned you'd want to pay £100k less than market value and hang on to that cash for repair bills as and when they arrive.
Manter
Lunch Mob
And it's worth bearing in mind they don't have the same obligation to respond to section 21 requests, you can't nominate or have any say in capital expenditure (you can provide comments, apparently) and whereas in most buildings if the freeholder is taking the piss you can take over control of the building management, ex-LA you can't.
I don't think clear eyed and informed examination of the risks involved on a course of action is the same as catastrophic thinking.
I don't think clear eyed and informed examination of the risks involved on a course of action is the same as catastrophic thinking.
leanderman
Street Party: July 2
The danger is, theoretically, priced in. It's a reason why you pay less. Risk and return etc.
gaijingirl
Well-Known Member
yes this.. we almost bought on the St Matthews Estate (where we were living at the time).. the flats opposite Mango landin' on BWL and eventually bought on the Tulse Hill estate. We specifically asked about any planned works at the time of buying and in fact, in the flats opp Mango landin' there were plans. We didn't buy the flat in the end. We couldn't afford anything but ex-LA and actually we were impressed with the ex-LA flats anyway. We factored in the potential risk and we made sure we saved etc for that eventuality. In the end we paid for a few things but nothing too major. It's also pretty obvious if you do your h/w. We knew they were replacing all old windows with PVC on the estates and with the flats opp Mango Landin' they had the old windows. We knew they were putting in secure doors on estates etc. I think as long as you go in with your eyes open to the possibilities and plan accordingly it's mostly fine - although there is always a risk obviously. There's always an element of risk though isn't there?
tbh.. even though we can choose our own builders having a not-ex LA place hasn't worked out any cheaper in terms up upkeep.
It did used to annoy me when we got the maintenance bills and they were charging £50 for cleaning up a dead fox!
gaijingirl
Well-Known Member
TBF I wouldn't tackle a dead fox corpse for less than £50
I would have done it myself and pocketed the £50...
Rushy
basically a scrotum
I don't think that's true. The price difference is because most people who can afford it would rather not live on an estate. Regular service charges are built in to price - whatever the origin of the stock. I don't think most people consider that the council is likely to be so much more expensive for "one off improvement programs" and quite literally "unchallengeable" as a freeholder.
leanderman
Street Party: July 2
Yep. Common sense, bit of research, good solicitor and surveyor and it'll work out.
gaijingirl
Well-Known Member
Actually - I say we couldn't afford anything but ex-LA.. we could have afforded a v. small conversion flat in a Victorian building but we got much more space/rooms and a really good location with the ex-LA flat. I bloody loved that flat.
SpamMisery
Pretty comfortable here right under your skin
You didn't pay £50 each though right? £50 split between all the flats?
Rushy
basically a scrotum
Yes - price per square foot is much less for ex LA because most people who can afford it would rather not live on a LA estate. The advantage is that, if an estate does not deter you and you value/need space over location, you can get a good deal.
gaijingirl
Well-Known Member
well this is the thing.. it was £50 on our bill - so presumably on others' bills too..
so must have been loadsa money!
sparkybird
ask the bird...
A mate of mine who just sold his ex LA flat in Brixton told me that charges for works were capped at £10K for private owners.... have the rules changed maybe?
leanderman
Street Party: July 2
That's the biggest reason - and people generally prefer freehold over leasehold
I stand by the idea that the uncertainty surrounding major repairs is priced in.
It's a well-known risk and, if you weren't aware of it, your solicitor should point it out.
Rushy
basically a scrotum
I was charged 2500 about 15 years ago to scrape up some bird shit in a loft. I didn't really have any choice other than to delay a building project - it was contractual stuff. Totally ripped off on the grounds of it being a biological hazard requiring professional handling. A guy put a paper mask and suit on, scrapped it up into a bag and sprayed a disinfectant over the area. Sounds like no one wanted to scrape the fox up so called in a specialist out of "concern for everyone's safety."well this is the thing.. it was £50 on our bill - so presumably on others' bills too..
Rushy
basically a scrotum
Should, in your opinion. I think you are over estimating the quality / knowledge of conveyancers out there!
Manter
Lunch Mob
No, I nearly bought one that had £23k of works explicitly laid out in the documentation*
I don't think there is any limit. And whatever they charge there is no come back as all the leaseholder protections exclude ex LA.
* I didn't because they had already renovated the communal areas and it looked like a children's psychiatric unit. Hideous.
Rushy
basically a scrotum
I recently sold an ex LA and the buyers were very quickly landed with a 10K + bill by the LA (30K+ / 3 flats). I don't feel too sorry for them as they have put the flat back on the market 14 months later for 50% more so won't be out of pocket - but the bill was outrageous for the works proposed. Much of the work I had already done (to a higher standrard than any LA contractor would do) too.
That flat was exLA (2 flats now private, 1 still council), with LA still freeholder but was a Victorian house conversion. There was no appreciable discount for it being LA freeholder and there was no issue raised during purchase.
That flat was exLA (2 flats now private, 1 still council), with LA still freeholder but was a Victorian house conversion. There was no appreciable discount for it being LA freeholder and there was no issue raised during purchase.
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