November 22, 2017

Could do better …

Latest news

Sebastian O’Kelly addresses the retirement property managers. Were you lynched? No, they agreed: leasehold ‘granny flats’ have no future

Not a single voice was uttered in favour of the leasehold volume retirement flat model at the annual conference of the Association of Retirement Housing Managers. The keynote speaker was Sebastian O’Kelly, joint trustee of LKP and director of BetterRetirementHousing.com, who said: “The era of knocking out “granny flats”, loading the leases with sneaky fees […]

ARHM cannot see a future in traditional ‘granny flat’ volume retirement sales

Annual conference hears why renting, mutuals or guaranteed buy-back schemes are more attractive than leasehold flat sales Not one attempt was made to defend the volume retirement housing business model as it came under sustained attack at the annual conference of the Association of Retirement Housing Managers last week. The keynote speaker Sebastian O’Kelly, of […]

A second backbench debate on leasehold issues

An application for a backbench debate on leasehold issues is due to be heard on Tuesday 21st November 2017 http://www.parliament.uk/business/committees/committees-a-z/commons-select/backbench-business-committee/ The application asks the committee to consider: The APPG on leasehold and commonhold reform continues to grow and to date has 127 members. Government recently issued both a consultation and a call for evidence on […]

Dudley Joiner and park home landlord Barry Weir named in Commons … and LEASE chair Roger Southam invited to resign

Controversial leasehold entrepreneur Dudley Joiner was named in the House of Commons today, and Roger Southam, chair of the Leasehold Advisory Service, was invited to retire. The remarks came from Sir Peter Bottomley in the debate on the Regulation of Property Agents. Sir Peter also named Barry Weir, a Sussex-based park home landlord who employed […]

Pensioners tell property manager Dudley Joiner: give back our £27,000 sinking fund

Leaseholders in Chichester Court, a retirement site in Bexhill-on-Sea, East Sussex have told property manager Dudley Joiner to return their £27,000 sinking fund. Mr Joiner won’t give the money back unless the directors of the Chichester Court Right To Manage Company Limited sign some form of indemnity agreement as he believes the company is illegal. […]

Resale disaster zone: Burlington Court in Bridlington, where one flat has sold for £36,000

5 flats sold for less than £50,000. 12 flats less than £60,001 The dismal state of retirement flat resales is starkly illustrated by figures from the Land Registry concerning Burlington Court in Bridlington. Five of the flats here have been sold for less than £50,000; seven of the flats have sold for less than £60,000. […]

Elderly Accommodation Counsel says half new-build retirement flats fall in value on resale

BBC R4 MoneyBox today claims that around half of new build retirement homes sold during a 10-year period were later re-sold at a loss. This has long been a concern of BetterRetirementHousing.com, formerly the Campaign Against Retirement Leasehold Exploitation. In all our criticisms of resale prices we have relied solely on unarguable data from the […]

Ground rents are essential to McCarthy and Stone’s business model

… but leaseholders are concerned it is selling freeholds to anonymous buyers … McCarthy and Stone complains about ‘right to reply’ to LKP / Better Retirement Housing articles McCarthy and Stone told The Times yesterday that there would be fewer of its form of retirement flats if the government reduces ground rents to a minimal […]

Legal & General snaps up Inspired Retirement Villages

Luxury Retirement Villages in Warwick & Cheshire | Inspired Villages Inspired Villages in Warwick and Cheshire offers a collection of beautiful apartments with five-star facilities for that luxury retirement lifestyle. In another sign that new blood is eager to enter the retirement housing market, Legal and General has just snapped up Inspired Retirement Villages. It […]

More Latest News ...

News archive

Pensioners hammered with 88% rise in ground rents

… Often in sites with dismal resale values Thousands of pensioners living in older retirement properties are facing a massive hike in ground rents: 88 per cent is not unusual. The older leases of mass retirement housing builder McCarthy and Stone are kicking in with huge hikes in ground rents. Ground rents at Churchill sites […]

Our ground rents are fair, says McCarthy and Stone (even though they go up to £600 and are for no service whatsoever)

DCLG Consultation Paper On Leasehold And Ground Rents – Statement – McCarthy & Stone See our response to the DCLG consultation paper on Leasehold and Ground Rents It is a fair bet that McCarthy and Stone will be making a strong submission to the DCLG into the leasehold houses and ground rent scandals firmly urging […]

FirstPort’s estate agency Retirement Homesearch sees rise in homes for sale

UK Retirement Property Market, Q1 2017 | FirstPort FirstPort, the UK’s leading retirement property specialist releases its latest 2017 quarterly review of the UK market and beyond. Retirement Homesearch, the estate agency of FirstPort, claims it is seeing a very small rise on last year for new instructions and current stock levels. Nick Freeth, Managing […]

Elim Court: If you want right to manage, this is how NOT to go about it

Elim Court in Plymouth has escaped from its right to manage debacle by the skin of its teeth, having been led to near ruin by right to manage facilitators. After having had its right to manage application turned down in the lower tribunal (freeholder’s costs: £10,000) and then thrown out by the upper tribunal (freeholder’s […]

4% of McCarthy and Stone earnings come from ground rents

The announcement yesterday by Sajid Javid, Communities Secretary, that he is to ban the sale of leasehold houses and reduce ground rents on new properties to “as low as” zero resulted from months of work by the Leasehold Knowledge Partnership. It will have a marked effect on McCarthy and Stone, according to an article in […]

Goodbye, Carlex. Hello, Better Retirement Housing

Not without sadness, the trustees of the Leasehold Knowledge Partnership have decided to close the website of the Campaign against retirement leasehold exploitation. It has been replaced with a new site called Better Retirement Housing, www.betterretirementhousing.com This site includes all the news archives and comments of the old website. We had been feeling for some […]

LKP patron Sir Ed Davey returns to Parliament

LKP’s LibDem patron Sir Ed Davey was returned to Parliament at the election for the Conservative held seat Kingston and Surbiton. He rejoins Sir Peter Bottomley, Conservative, Worthing West, and Jim Fitzpatrick, Labour, Poplar and Limehouse, after having lost his seat in the 2015 election. LKP warmly welcomes the return to public life of Sir […]

DCLG stakeholders hear of ‘calamitous’ Law Commission report on exit fees

The DCLG leasehold stakeholders’ group was told yesterday that the Law Commission report into exit and other fees published earlier this month was ‘calamitous’. The study had come about following the Office of Fair Trading investigations into the retirement housing sector. One concerned the systematic cheating of pensioners over the Peverel / Cirrus collusive tendering […]

FirstPort fined £360,000 over fatal fire at Gibson Court

The property management company FirstPort was fined £360,000 today over the fatal fire at Gibson Court on September 30 2011. More here The full sentence is not available at this time. The following statement has been provided to Campaign against retirement leasehold exploitation / LKP by FirstPort chief executive Nigel Howell. “We are sincerely sorry […]

Law Commission: you will create an investment asset class, not protections for pensioners

Martin Boyd replies to Stephen Lewis, of the Law Commission, on his report into retirement housing event fees We are a tiny charity that you kindly credit as being one of the key drivers in initiating your work with event fee project. Unlike others we were not part of your advisory panel, but we have […]

My granny’s Audley Retirement home ‘was a money pit’ costing £48,000 in exit fees

The Sunday Times yesterday published a powerful article by Harriet Meyer revealing how her family spent £48,160 in fees on selling at Audley Retirement flat. Audley Retirement is one of the upmarket providers in the sector, which Campaign against retirement leasehold exploitation has long argued has even greater exploitative practices at the higher end than […]

Full news archive ...

Skip to toolbar