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Property61

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  1. Hi everyone, We're a friendly bunch of people who are passionate about property and meet up on the first Thursday of every month to have an informal chat, from BTLs to land purchases. If anyone is interested in joining us, we meet at The Cuckoo, Alwalton (just outside of Peterborough) and our next meeting will be Thursday 7th March at 7pm. Space is limited so please sign up using this link to confirm your place: https://www.eventbrite.co.uk/e/the-property-meet-up-tickets-58990332673 We have also started a Facebook group to continue the discussion: https://www.facebook.com/groups/2295980247306068/ We look forward to meeting some of you! Abby
  2. Hi Vincent, Congrats on purchasing your first property! I'm just getting to the end of the first fix phase so only a little ahead of you really (the actual purchase took AGES). In the end I got some recommendations for trades people from my (very good) estate agent and one of the general builders who came to quote had friends in all of the different trades and was happy to organise them all as he said he often gives them work and vice versa and it works really well. It did make me a little nervous going with someone who isn't technically a contractor but he was well priced and came so highly (and personally) recommended by the estate agent that I went for it and so far, so good. I only live 45 mins away from the investment property but it definitely helps having someone in the local area to coordinate and give the different trades people the keys, especially with my lack of knowledge regarding what needs to happen when (although I've learnt a lot already!). I'm lucky enough not to work alongside this so I have plenty of free time to check on progress, take deliveries, etc. but I'd imagine that it would be even more valuable to have someone to coordinate all of the trades if you also work. I'm not sure what learnings you can take from my experiences so far... maybe that just because someone doesn't advertise themselves as a contractor doesn't mean they don't have a whole team of trades around them. When I started speaking to individual trades I got several offers for them to speak to their mates in other trades and come back with a quote for the whole project. That's only if you're comfortable going down the same route as I am though... I imagine there might potentially be insurance issues with not using a proper contractor that I've chosen to be blissfully unaware of? Are you planning on doing some of the work yourself? When you say the house needs modernisation, what kind of work does it need doing? Good luck with everything! Abby
  3. An update for anyone who is interested... Today we finally exchanged contracts and completion has been set for a week today so it seems that I've been lucky in this case that the vendor has been very patient despite the empty promises from my solicitor! The law firm agreed to give me a 20% discount on their fees because of their poor service, an amount that I wasn't particularly pleased about if I'm honest. If I think about the amount of time that I've spent chasing my solicitor and trying to appease the estate agent/vendor it values my time at a very low rate but I agreed to it in the interests of actually getting things moving (it took them at least a week to decide on the 20% discount in the first place...) I won't name and shame the law firm but if anyone is getting a mortgage through Kent Reliance and therefore is having to use the firms that are on their panel, feel free to message me.
  4. Hi Dino, Your case is so similar that we could even be using the same solicitors! Tweeting a complaint is a good idea although it doesn't sound like you had much luck afterwards. I'd thought about threatening with legal action but my worry is that at no point have they agreed to return my calls/emails within a certain timeframe and I don't know whether them saying that we could complete in the next couple of works would be legally binding in any way... Hope you find a new property soon. Abby
  5. Thanks for the advice RJW. I raised a complaint with one of the partners at the firm towards the end of July which was forwarded onto the complaints partner but I didn't hear anything back so I emailed him again yesterday outlining all of the timelines, number of times I'd had to chase and amount of time I'd had to wait for a response each time etc. He has now said he'll look into the matter so we'll see what he comes back with. If he can't help me then I'll investigate the legal ombudsman - good shout, thank you.
  6. Hi everyone, I'm in the process of buying my first BTL and had to go with a legal firm that was on my lender's panel of solicitors. Whilst I was enquiring about quotes etc. the firm that I ended up going with was really responsive... typically since instructing them it's been like trying to draw blood out of a stone. I instructed the firm that I'm using at the end of May and was hoping to have completed quite a while ago. Whilst I appreciate that less than three months is probably not a particularly long time for a lot of property purchases to go through in, I am buying an empty property, was in receipt of the mortgage offer BEFORE instructing the solicitors and at the end of June they informed me that it was achievable that we complete in the next two weeks. Since instructing the firm it has been a constant battle to get any information out of them and to get them to do anything. Enquiries were only sent over to the vendor's solicitors at the end of July, so a full two months since they supposedly started working for me. I'm still not in receipt of any of the reports I'm expecting such as report on mortgage, report on searches, etc. In June I told them that I would find a different firm if we weren't able to complete in the next few weeks but that time period has obviously been and gone. My question is what are my rights regarding this? Am I entitled to not pay the firm the full fee as I'm unhappy with the level of service I'm receiving? If the vendor was to pull out (which I wouldn't blame them for, one of the reasons that they went for my offer in the first place was my ability to move quickly) of the deal, would I be able to claim back the costs that I'd incurred because of the solicitor's lack of haste? Look forward to hearing your thoughts. Thanks, Abby P.S. This is by no means meant to be a solicitor bashing post. I know that good firms definitely do exist and I have one that I would have gone with had I not been forced to use one on my lender's panel!
  7. Hi Craig, Thanks for your help. Please could you clarify which elements would be able to be done simultaneously? And are there specific things that come under 'first' and 'second' fix or will each trades person do it slightly differently? Thanks again, Abby
  8. Hi everyone, I'm about to buy my first flip and have been busy getting quotes from the trades. Using a contractor is out of my price range so I'm going to have to employ the individual trades separately but I'm completely new to the refurbing process and don't really know what order everything needs to be done in. The house needs a complete refurb (it needs central heating putting in, a partial rewire, new bathroom, new kitchen, plastering etc.). Does anybody have a project plan type thing that they would be willing to share with me please or just any advice regarding the order that the jobs need to be done in and how to ensure that I have the right trades turning up at the right time? Thanks in advance, Abby
  9. Hi everyone, My question is as it says in the title really... does anyone have any recommendations for companies that they've worked with in Northamptonshire who can manage end to end refurbs? I'm in the process of buying a 2 bed terraced house that needs a full refurb (gas needs connecting, damp dealing with, central heating putting in, new bathroom, new kitchen etc. etc.) so am looking to get some quotes and choose a contractor in the next month or so. Thanks in advance!
  10. Hi, has anyone worked with an individual or company who sources properties that need renovation (i.e. to flip) in any of the following areas?: - Northamptonshire - Cambridgeshire - Bedfordshire I'm struggling to find a sourcer who works with people looking to flip properties rather than BTL. Thanks in advance, Abby
  11. Hi Paul, I signed up to receive the Buy2Let shop's investment deals emails (at a cost of £272), however, I didn't find that they had any deals that matched my criteria (I'm looking for somewhere to flip in the East of England). When I first spoke to them on the phone I was assured that they had deals that matched my criteria but this didn't prove to be the case once I started receiving the emails. The success of their emails probably depends on what you're looking for and where but I never even got to the stage where I felt the need to do any due diligence on any of the deals that they sent me because they simply weren't suitable. Luckily I realised this in the first couple of weeks and so I was entitled to a refund of my £272. Hope that helps, Abby
  12. Hi everyone, I'm just starting out and this is my first Property Hub post so hello Obviously auction houses can sell properties from all over the country and not just nearby but I was wondering whether anyone has come across any that regularly sell properties in the Peterborough area? I'm struggling to find any auctioneers that cover that area... potentially because I'm looking in the wrong place or because not many properties come up via auction in the first place in Peterborough? Any advice would be very welcome Thanks! Abby
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