The Seren Park Residents Association (SPRA) Fighting Fund has been created for leaseholders to contribute and participate in legally challenging the Freeholder regarding the 2014 and 2015 (excess) service charges.
A contribution of £95 is required by each leaseholder/ flat. In order to proceed with the legal challenge we must raise a minimum of £7000 (since launching this web page MOAT have agreed to contribute £4465 to the fund) so the crowdfunding target has been reduced to £3000.
The £95 fee we are asking leaseholders to pay via this web page covers the Solicitors charges + VAT, merchant fees and a contingency in the event of any unforseen costs. If by the campaign end date the target is not met participating leaseholders will be refunded, less a £5.33 fee (£3.80 charged by GoGetFunding and £1.53 transaction charge by Stripe- which makes it possible to pay by card).
It should be highlighted that by taking legal action as a Group the cost per flat is considerably less than a leaseholder going it alone and whilst there are no guarantees the return potentially more.
The amount required covers the cost of the Solicitor to send a letter and handle the follow up correspondence in order to reach an informed point as to whether it is worthwhile taking the matter to Counsel for advice on the strength of the case if it went to a Tribunal. For further information on the Solicitor's advice and cost please see email sent by SPRA on 31 Oct 2017.
GoGetFunding was chosen as the quickest and easiest way to collect the required money. It allows leaseholders to by pay credit/debit card and also to keep track of progress regarding the fund. If the target is met, the SPRA will withdraw the money and pay it into the SPRA community account which has been set up with NatWest. Community accounts are for not for profit organisations and the account requires at least two signatories to sign who are committee members. The funds collected (less fees and any unforseen costs) will be used for the sole purpose of paying the Solicitor. In the event of surplus funds being collected, participating leaseholders will be able to vote what happens to the remaining funds.
When making payment, please specify in the comments section your name and flat number. You have the option to hide this so that only the SPRA see this if you wish.
This information is important as it will help SPRA to keep track of which leaseholders/ flats are participating.
If you have any questions or would like more information, please contact [email protected]
As of 20 Dec 2017, there are 24 backers of the legal challenge via the crowdfunding page. It shows 26 but 1 was a test and the other a shared owner who contributed and who has since been refunded given MOAT's support. Neither can be deleted.