Thinking of Purchasing a property on Stamford Close?
Then please read the following important information - it could save you a great deal of time.
Stamford Close is a Private Residential Estate. This means that, once you buy a property on the estate and become a shareholder, you own 1/82nd of the whole estate grounds. Before title deeds can be registered in your name, permission MUST be sought from Stamford Court Management Co. Ltd for the transfer. This is done by way of a completed form of Deed of Covenant.
Once an offer is made, your solicitors will be forwarded this paperwork by the seller's solicitors, which is signed on the day of exchange and returned to SCMC Ltd. Your solicitors are also sent an Annexure, which needs to be signed by your solicitors confirming they have particularised all of the details of the covenants, pertaining to owning a property on the estate, with you (THIS IS VERY IMPORTANT).
Once we have received all the required paperwork, together with your first year's Maintenance Fee and the Transfer Fee, we will then write to give our formal consent to the transfer of Ownership and send a new Membership Certificate in your name to the solicitors. As a Member / Owner of a Stamford Property, you are entitled to attend the AGM’s, vote and to become a member of the Management Committee, if you so wish.
There are maintenance fees chargeable to each of the 82 properties, which can be paid by standing order or BACS. The vendor’s solicitors will explain these fees.
The property owners are the freeholders of their individual properties and Leaseholders of the estate grounds. The Management Company are tasked with maintaining all of the estate grounds, which includes the roads, paths, grassed areas, gardens and lighting. The Maintenance fees cover the cost of this work, plus the cost of the required Public Liability Insurance, the electricity for lighting the outside areas and the administration of the Company. The fees are reviewed annually.
Car parking spaces are available to rent, once all the paperwork has been received and Certificates issued. Spaces are limited to one per household.