to not pay factor fees??

[MalkieFraser]

I inherited this property after my Mum died last April, ownership was officially passed to me in September. The house was paid outright through insurance around this time.

I received an invoice from the factoring company for £200 (which I don't have and have no way of getting!) stating that it is compulsory I pay it within 30 days and continue to pay yearly. It is a post dated invoice up to 2012.

I owned my last property and had no factor or fees to pay and that was a flat.
This is an end terraced property....

[Dolcegusto]

I don't even know what factoring is but bumping for you till someone more knowledgable comes along

[LadyThumb]

Obviously you're not in the UK, 'cos we don't have factoring fees here. What are they?

[eurochick]

I know what factoring is but I don't understand this post at all!

[DamselInDisarray]

you get factor fees in Scotland. They're fees to whoever manages the property.

[EvenLessNarkyPuffin]

Quick google says they're scottish Ladythumb

There seem to be lots of threads on //www.moneysavingexpert.com about it.

[Rangirl]

If you are the owner and the factor fee is part of the title obligations you will have to pay it,why would you not? If you don't they will sue you

[MalkieFraser]

Yes, I'm in Scotland :) Didn't realise it wasn't a well known thing, guess that's why Google was unhelpful....

[MalkieFraser]

Thanks Puffin, I'll have a wee look here. Rangirl didn't know if they were compulsory or not, having never paid them in over a decade of home ownership.

[TheCrackFox]

A you might legally have to pay the factoring fee.

B They might be a bunch of chancers. Are you 100% sure your mum's property has to pay factoring fees.

I hate factoring fees and I would never buy a house/flat that has to pay them ever again. The costs seem to be completely unpredictable.

[pippitysqueakity]

Check your deeds, factor fees should be stated there. If they are, you need to pay them I'm afraid.

[5Foot5]

Sounds like the Ground Rent many properties have in England unless you have bought the feehold. If so then yes you will have to pay.

[5Foot5]

That should be "freehold"