We look forward to providing you factoring services and hope this information is useful. C-urb Factoring are the factor for the property you are proposing to purchase .
We can help you with general information up until you become a factored owner . You can contact us on factoring@curb.scot if you require any further information.
Curb Factoring provides factoring services for the property you are purchasing. The service provided may cover the common open space areas or repairs where your property is part of a block of properties that have common areas covered by our service.
Property factors are responsible for managing the maintenance and repairs of communal areas in Estates, blocks of flats or shared buildings on behalf of the owners. They ensure these spaces are clean, safe, and compliant with all applicable laws and regulations.
More information about property factors and their obligations can be found on the Scottish Government’s website
Property factors must be registered on the Property Factors Register to comply with the Property Factors (Scotland) Act 2011.
We have a duty to liaise with the seller’s solicitor during the sale. We are normally requested to make the solicitor aware of the following:
• any debt on the seller’s account and if a retention figure is to be held by the solicitor to settle any outstanding balance
• any Notice of Potential Liability (NOPL) on the property
• any major works planned and paid for by the seller
• any identified forthcoming major works that require funding by the seller or buyer
• the presence of a float and/or a development sinking / contingency fund
• block insurance schedules
• an estimate of the annual factoring costs.
We request where possible that this information is shared with your solicitor to ensure you are aware of the service provided.
A Notice of Potential Liability is raised on the property Title Deeds where we have been unable to recover factoring fees from an owner. We encourage selling owners to pay the estimated final invoice figure to ensure an NOPL is removed. The NOPL protects any debt not paid and as part of the sale this debt will transfer to a purchasing owner. An NOPL lasts for 3 years where it is reviewed and it may be renewed if the debt remains outstanding. All costs associated with raising, renewing or discharging an NOPL are recharged to the account.
Where the estimated final invoice for the selling owner is considered substantial, we may register an NOPL to protect this debt. The costs to register an NOPL will be added to the debt owed. The seller’s solicitor will be made aware and requested to arrangement payment for the estimate final account. If this is not paid, the debt will become the responsibility of the new owner.
All costs, fees, insurance premiums etc that apply, up to the date of the sale, will be charged to the seller. Some costs are straightforward such as a routine repair performed before the sale. In this case, the seller will be charged their normal share of the full amount. For on-going costs, such as monthly cleaning or landscaping charges, insurance premiums and management fees, we’ll work out the apportioned charge depending on the date of sale.
Where a payment is required to fund a forthcoming major works project (for example a development wide painting scheme), we will pass this information to the seller’s solicitor. The party responsible for this payment (seller or buyer) will be agreed between seller / buyer / solicitors in advance of the sale. This will be covered in the details sent to the seller ’s solicitor .
Within 4 weeks of the date of sale being confirmed we will issue our new owner pack. This contains:
Our welcome letter including the contact details form to be returned.
Written Statement of Service
Property Specific Schedule
Float Invoice
Direct debit form
Ways to pay
We would appreciate it if you would update your contact details with us to ensure you receive your invoice and any service updates. You can do this by returning the form in your new owner pack, completing the online form or emailing us direct on factoring@curb.scot. We have a duty to provide your factoring services therefore require up to date contact details to ensure we can issue invoices and keep owners updated on repair recharges and services.
Your factoring officer will contact you to go over any questions regarding the service you receive. If you have not heard from them and want to discuss anything, please email factoring@curb.scot
A property factor must provide each homeowner with a comprehensible WSS setting out the terms and service delivery standards of the arrangement in place between them and the homeowner. This document must comply with the requirements of the Code of Conduct for property factors.
It is an annual document provided to all factored owners. This schedule outlines the specific terms of service and responsibilities related to the maintenance and management of common areas within a property. It accompanies the Written Statement of Service, offering detailed information tailored to each property.
A float is a collective term for advance payments made by homeowners which is kept in a maintenance account by a property factor to deal with routine or minor repairs. The float amount will either be set by the Deed of Conditions or be determined by C~urb as Factor.
The float payment is required from each homeowner within 21 calendar days of receipt of the New Owner Pack, which details our Written Statement of Services and payment methods when you purchase your factored property. Unless the Deed states otherwise, in the event of a sale of a property, the float will automatically be credited to the homeowner’s final account.
Float payments allow us to complete routine maintenance work prior to receiving customer payments. You will receive a float invoice with your new owner pack. This needs to be paid into a separate bank account as identified on the invoice.
Any unused float payment would be refunded at point of sale, once final invoice payments due have been taken into account.
A fund used to gather monies from homeowners to pay for major repairs. The arrangements are normally written into the Title Deeds to the property.
The amount paid into the cyclical maintenance fund is not returned and is retained against the property in a separate bank account. It is considered beneficial for a development to have a cyclical maintenance fund to support major works and it is advised that the presence of these funds should be detailed as an asset in the sale of the property.
We invoice either quarterly or annually depending on your development. Once you have moved in, we will calculate any applicable charges from the date of sale and issue you with an invoice as quickly as possible. This may be held up by contractor invoices, but we will ensure this is processed as quickly as possible.
Yes, you can receive your invoices and communications via email. We recommend opting for digital invoices as part of our commitment to going digital. To register for digital invoicing, please contact us by email at factoring@curb.scot with your preferred email address. Once registered, all correspondence will be sent to you by email unless you request otherwise.
Paying your factoring fee is easier than ever with multiple payment options available. You can choose from direct debit, online, phone, text, bank transfer, and cheque. See the "More Ways to Pay" document for details.
When using Allpay, be sure to use your 19-digit number located at the top right of your latest invoice.
