I have a factor issue just now.

[pink butterfly]

Hi Rickyd,

 

I have a factor issue just now. Hacking & Paterson, Glasgow. They are seeking , actually that's incorrect- they are "demanding" an increase in the float amount. I paid £500 at the outset and now they want an extra £200 as a top up.

 

Does anyone know if they have the right to do this? Has anyone challenged them successfully? This increased float demand is being made to many of the owners of the properties they manage- so this is affecting a large number of folk who will be in the same quandary as myself.... whether to stump up or face court action ( they added the float to the common charges invoice and are now pursuing it as an unpaid debt)

 

Any comments or help much appreciated x

[pink butterfly]

I have a Property Manager (Factor-Hacking & Paterson, Glasgow) issue just now.

 

They are seeking , actually that's incorrect- they are "demanding" an increase in the float amount. I paid £500 at the outset when I bought the property. They hold that money until you sell the property when the float is meant to be refunded. Now they want an extra £200 as a top up.

 

Does anyone know if they have the right to do this?

 

Has anyone challenged them successfully?

 

This increased float demand is being made to many of the owners of the properties they manage- so this is affecting a large number of folk who will be in the same quandary as myself.... whether to stump up to avoid court action ( they added the float to the common charges invoice and are now pursuing it as an unpaid debt) or refuse to pay.

 

If there is anyone out there with the same problem please get in touch- and if there is anyone who has resolved a similar issue, I would really appreciate some guidance x

[Surfer01]

Hi Rickyd,

 

I have a factor issue just now. Hacking & Paterson, Glasgow. They are seeking , actually that's incorrect- they are "demanding" an increase in the float amount. I paid £500 at the outset and now they want an extra £200 as a top up.

 

Does anyone know if they have the right to do this? Has anyone challenged them successfully? This increased float demand is being made to many of the owners of the properties they manage- so this is affecting a large number of folk who will be in the same quandary as myself.... whether to stump up or face court action ( they added the float to the common charges invoice and are now pursuing it as an unpaid debt)

 

Any comments or help much appreciated x

It would be preferable if you started your own thread as this one is over 3 years old and we do not know the outcome as OP never updated CAG.

[maroondevo52]

Hi pink butterfly,

 

I have started a new thread for you in the appropriate Forum, also merged your other thread on the same subject.

 

Regards,

 

Scott.

Edited December 23, 2012 by maroondevo52

[scotgal68]

Hacking and Paterson are our factors too. We didn't retain nor ask for their services. It was the house builders - we pay a factors bill quarterly to them for a management fee plus VAT. their duties? Sending us an invoice and that is all . Did they send you a copy of the new laws concerning factors? New laws came into force. It's called property factors (Scotland Act) 2011? There's a bit about floats in there. It doesn't say anything about increasing it but we tried to sack them, we could'nt get enough names as some of the adjacent properties are let out, we had difficulty contacting owners. they took one of our neighbours to court for non payment + penalties and they won. They are greedy ruthless bastards, but I know who can advise you- The Govan Law Society! They are a charity and are on FB. good luck x

[pink butterfly]

Hacking and Paterson are our factors too. We didn't retain nor ask for their services. It was the house builders - we pay a factors bill quarterly to them for a management fee plus VAT. their duties? Sending us an invoice and that is all . Did they send you a copy of the new laws concerning factors? New laws came into force. It's called property factors (Scotland Act) 2011? There's a bit about floats in there. It doesn't say anything about increasing it but we tried to sack them, we could'nt get enough names as some of the adjacent properties are let out, we had difficulty contacting owners. they took one of our neighbours to court for non payment + penalties and they won. They are greedy ruthless bastards, but I know who can advise you- The Govan Law Society! They are a charity and are on FB. good luck x

 

THANK you Scotgal for your reply. Sounds very familiar- same problem- it is a big development and many flats are let out and the neighbours dont speak to each other- just the odd one here and there- so noone knows what the other is doing -some have said they will stick to their guns and not be forced to pay the extra float- the rest may have already paid - but yes i know they are not slow to refer unpaid bills for court action- ruthless is the word. Ive heard of the Govan advice centre but I thought they only help if you have a postcode in Govan- Ill look at the FB page- that was helpful thank you for taking the time to reply- xxx

[pink butterfly]

Thank you Scott for making a new thread for me. I think this topic of increased floats will currently be affecting hundreds if not thousands of people who have a flat factored by Hacking & Paterson so hopefully this thread will be helpful for many who are in the same boat and dont know what to do. Thank you for your help x