campsite
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We have had a solicitor quote us about £500 each to go down the leasehold/freehold route. We have been told much the same as regards to getting a mortgage on a freehold flat and a broker said that out of 30 lenders only 1 would lend and that was NatWest. Commonhold information is hard to get, as no one really seems to know much about it. So looking into the future if we wanted to sell it would be much easier if we went leasehold and retained the freehold as well>
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Hi, Thanks for your reply. The flat owners are responsible for their own internal walls, floors and ceilings. Everything else comes under the now dead maintenance agreement, which included communal areas, roof etc. in the past ground floor flat owners have said that they had the drains and that the 2 first floor flat owners had the roof, basically as they did not want to pay towards the roof. It all came to a head when they realized that the roof would not last another winter. For the first time everyone was in agreement and we chipped in and the roof was sorted out at a cost of £20k. As everyone was in agreement it was also agreed that we should get the maintenance agreement sorted out. But the problem is that there are now conflicting views as for the best way forward. Some want to go down the leasehold/freehold plus a maintenance agreement route as it would mean that if they wanted to sell the flat in the future the new buyer would find it easier to get a mortgage on a leasehold flat as opposed to a flat that was purely freehold. Some want to just have the freehold as before but with a new maintenance agreement attached as a covenant. Another wants to go commonhold.
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Hi, We own a flat which is 1 of 4 flats that were converted from a single large detached property in 1953. The flats are freehold flats. The maintenance agreement was with a named person on the deeds. That person died years ago, and so the maintenance agreement died with him. we have a situation of 4 freehold flats and no proper maintenance agreement. Over the years not everyone has been in agreement at the same time in getting any work done on the property, and also in getting an agreement sorted out. Recently we have had to get the building re-roofed at a cost of £20k However we now are all in agreement that this maintenance agreement should now be sorted out. Is it better to get the flats put into leasehold with each flat retaining a share of the freehold. or 1 flat owner has suggested Commonhold, of which I know nothing about. or Is there a better solution such as just having a maintenance agreement. Many thanks in advance.
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RBS is trying to close my business down.
campsite replied to campsite's topic in Royal Bank of Scotland
It was sent "special delivery" and I have checked the post office confirm that they delivered it.I also have letters from RBS credit card and Mortgage/PPI people saying that a copy of the request was past to them by the Chief Operating Officer based in Edinburgh. So I know that they have received the SAR. They have not banked the cheque. I do not have a mortgage or credit card with them, but I do have a current business account and business loan with them, so I should be getting data from them. -
RBS is trying to close my business down.
campsite replied to campsite's topic in Royal Bank of Scotland
I have requested a Full SAR. Recorded delivery. I have had letters from them regarding PPI and credit card branches stating that they can not find anything, this is because we only have a loan and current account with them.They have not cashed the cheque.The 40 days is now up, and I have not received anything from them. How long beyond the 40 days should I wait? -
RBS is trying to close my business down.
campsite replied to campsite's topic in Royal Bank of Scotland
Update. RBS was putting us under pressure to sell, and when we would not they started to look at the loan agreement to see if they could find anything to make us default, even on a technicality.They even wrongly started to claim that our turnover for 2012 did not match our 2008 business plan.When it was pointed out to them that they had read the spreadsheet wrong they just said that the figures they had quoted where not qualified. All of a sudden we got a letter stating that he was handing us back to our old "relationship manager" because we no longer had an overdraft with them. We stopped the overdraft because we felt that in the middle of the winter RBS would pull the overdraft from under us and requireus to repay it straight away. Then yesterday, (Monday), RBS is all over the news for trying to close businesses down for their own gain. What are my options? BCOBS/COBS for not treating me fairly. Or should I wait and see what is going to happen with this inquiry? -
RBS is trying to close my business down.
campsite replied to campsite's topic in Royal Bank of Scotland
Hi Streetwise, We have the original copy of the loan agreement. Regards campsite -
RBS is trying to close my business down.
campsite replied to campsite's topic in Royal Bank of Scotland
Having had a little look around this forum, it would seem that the Financial Ombudsman not very good, and tends to side with the bank in most cases. We think that the bank is treating us in an unfair manor. Would BCOBS be the better route to follow? Does BCOBS apply to a business loan? -
RBS is trying to close my business down.
campsite replied to campsite's topic in Royal Bank of Scotland
We pay 1.5% above Bank of England base rate for 300 months from mid 2008, so we still have about 20years to go. -
We took a loan out with RBS in 2008 and the rate was at 1.5% above base rate. I think the LIBOR rate was about 4.5- 5% then. Since the base rate has fallen to .5%. We had a poor start to 2013 trading wise. RBS state that they were not happy with the current account and sent one of their special relationship managers around who tried to bully us into selling. Since then our trading has improved, business is good, current account is good. We have decided not to renew the overdraft which we felt that they would pull out from under us during the winter months when trading is slow. RBS is now looking at the loan agreement and would appear to be trying to see if they can make us default. We have never missed a payment. They are looking at our business plan from 2008. We think that RBS is not happy that we are only paying at 1.5% above base and want to get rid of us. They did offer to do a new loan, but at current rates and costs. Has anyone else had this problem. Should we go to the Financial Ombudsman?
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