| 1 |
Are Company Accounts available? |
Available for download on the Legal & Admin tab. |
| 2 |
Regulations made by the Management Company. |
A new Covenant must be signed by all parties (Vendor and Purchaser), witnessed and then sealed and signed by 2 SPIRES Directors. |
| 3 |
Number of Dwellings on the development. |
53. All pay the annual Management Charge. |
| 4 |
Name and address of the person to whom the monthly maintenance charge is paid. |
The annual Management Fee is paid into the Company Bank Account. Cheque and cash payments are delivered to the Company address. Some are paid by Annual Standing Order. |
| 5 |
Confirmation of the amount currently in the reserve fund. |
£10,000.00 approximately. |
| 6 |
Confirmation that the monthly maintenance charge on account is sufficient to cover the actual expenditure so that there will be no additional payment due from the Purchaser at the end of the current financial year. |
No additional interim charge is payable other than the annual management charge. |
| 7 |
Is the Management Charge paid in advance or arrears Monthly, Quarterly, Half Yearly or Annually? |
In Advance Annually. Invoiced in January each year and payable no later than 30 days after invoice date. |
| 8 |
Does the purchaser's solicitor need to contact the SPIRES Company when a property is being transferred? |
Yes. |
| 9 |
Is a Stock Transfer form required? |
Yes. This should be included with the Covenant when it is returned, as should the Transfer of Mortgage. |
| 10 |
Does the assignment of the transfer require a Deed of Covenant or licence to Assign and who will prepare them. |
Deed of Covenant. The wording is provided by SPIRES and enclosed with the documentation sent after first contact by the Purchaser's Solicitor. The Licence to Assign (Compliance Statement) is produced by the Company. |
| 11 |
Where a Notice of Assignment and/or Charge is required upon completion please confirm upon whom this should be served and the present fee for acknowledging each Notice |
See enclosed documentation. The SPIRES company will not release the property for registration at the Land Registry until all fees have been paid. |
| 12 |
Confirmation of any costs levied by the Management Company or their solicitors in connection with any deed of covenant referred to above. |
The transfer Fee is currently fixed at £250.00 from 1st September 2021 |
| 13 |
The various trees in the 2 managed areas are surveyed every 2 years and any necessary remedial work attended to. |
This is ongoing and means that there are unlikely to be any major works requiring a large financial outlay. |
| 14 |
Are you aware of any substantial expenditure anticipated in the current or a future accounting year? If so, please supply details. |
No |
| 15 |
Has the Management Company experienced any problems with the collections of monthly maintenance charges as they fall due? |
The SPIRES company will issue a Summons in the Small Claims Court for any payments due that have not been paid by the due date. |
| 16 |
What is your financial year? |
Calendar year. January to December. |
