Right to buy

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Friday 4 October 2002 9.45am
Hi everyone,

I live on the 13th floor of a 16 storey high tower block and after years of thinking I have decided to buy my flat. The council is making a lot of improvements to the blocks(changing the windows, installing brand new lifts, putting in a concierge, electrical re-wiring, changing the hot and cold water tanks). The blocks are in good condition and are cleaned all the time and,.... the blocks are very close to the tube station. What do other forum users think? Is this a wise move or has anyone had any bad experiences having bought somthing similar to mine?

I will be happy to hear from anyone.
Wednesday 27 November 2002 6.49pm
I am currently in the process of buying my flat from Southwark or Scumwark as I like to call them. Their legal department brings a new meaning to the words incompetence, no-one seems to want to take responsibility for anything and every process seems to take months instead of weeks. It's been 18 months since I first applied for RTB. Don't let me nightmarish experience put you off thyough, it is worth it in the end, but just be aware that you are in for the long haul and patience will be your mantra!

Good Luck!
Friday 29 November 2002 6.13pm
That experience sounds familiar. We've just bought our freehold from Southwark - it can only be described as a nightmare. It took us over a year to complete what should be a perfectly straightforward business. The various departments in Southwark excelled themselves in incompetence, stupidity and downright deception. The only saving grace is that by the time we finally completed, the sale price we'd agreed was alot lower than the market rate. And of course, six months on, Southwark are still trying to bill us for service charges for the freehold, which they no longer own. But don't let me put you off!
Monday 2 December 2002 2.46pm
The above all sounds very familiar, it took us over 18 months from applying for RTB to completion and along the way Southwark managed to lose our file, etc, etc. Their incompetence knows no bounds.

My advice is, firstly keep copies of EVERYTHING they send you and everything you send them, secondly get yourself a decent solicitor. Don't do what we did and go for the cheapest, who has now been closed down by the Law Society, as you will need someone on your case.

Good luck!
Wednesday 4 December 2002 4.40pm
Thanks..I know that you can fill in a form called RTB8 or RTB9 that entitles you to a month's rent for every month they delay your application. You can send this form off 12 weeks after you have made your RTB application(if you still have not got an offer from them). I know how bad Southwark are in dealing with these kind of things....The other thing is coz the flat is on the 13th floor of a tower block we are finding it very hard to get a mortgage. It seems like everything above the 7th floor is considered a liability for mortgage lenders. I am thinking to myself even if I get the flat and decide to sell it who is going to buy it? who are they going to get a mortgage from?..
Monday 28 April 2003 8.36pm
I agree that mortgages are a definite problem. But someone must lend or Southwark would not be able to sell any flats above the fourth floor. Maybe Southwark can tell you who has been financing the other RTB's.

Subject to this, I think the key thing is will the l;egislation change to reduce the amount of discount you get - and the affect on you versus the (definitely) falling property market.

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