September 20, 2018

Could do better …

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Retirement housing message to Clive Betts MP’s Select Committee

By Michael Hollands I am interested in Leasehold Retirement Complexes of which I have much experience in the way many unfortunate Pensioners are robbed of their valuable savings. 1 When purchasing new these retirement properties are always more expensive than the non retirement properties, manly because they are desperately needed by elderly who have to […]

APPG July 11: Robust debate over retirement ground rents and event fees

By Sebastian OKelly, LKP trustee The controversial issues of ground rents and exit fees in retirement housing were discussed at this week’s meeting of the All Party Parliamentary Group on leasehold and commonhold reform. These were the main event in a meeting which also had an insider’s examination of leasehold insurance commissions, and why developers […]

APPG July 11: Retirement event fees ‘align interests of buyers and operators’, Michael Voges tells meeting

By Michael Voges, executive director ARCO Retirement event fees – a term used to describe exit fees on re-sale – align interests of buyers and operators and are the business model for retirement housing in New Zealand, Australia and the US, said Michael Voges, executive director of the trade body the Association of Retirement Community […]

APPG July 11: The case for ground rents from McCarthy and Stone

By Clive Fenton, CEO McCarthy and Stone Hello, my name is Clive Fenton and until 31 August I’m the CEO of McCarthy & Stone. Thank you for inviting me here today. Today was never destined to be my easiest day in the office. I recognise that as a promoter of retaining ground rents for retirement […]

APPG July 11: Retirement fees whether ground rents or event fees need to be for designated services not open-ended profits, says AgeUK

And grounds cannot be set to zero but maintained in the retirement sector By Joe Oldman, AgeUK Age UK strongly supports extending the range of housing options available for older people – so we want to see a significant expansion in good quality retirement schemes and villages. We also recognise and appreciate the efforts of […]

ARCO conference offers a different vision to retirement housing, but …

There will be – and there are already – issues with big event fees The conference of the Association Retirement Community Operators in central London last week offered a fascinating alternative vision for the retirement housing sector to the one that we have. The organisation represents providers who build and manage their own sites, as […]

McCarthy and Stone and Churchill: are you blackmailing government over the ground rent ban and is your business model broken? Asks BBC R4 MoneyBox

Brilliant interview with outgoing McCarthy and Stone CEO Clive Fenton ‘Problem’ that retirement housebuilders have not been spoonfed profits, like others through Help To Buy Anyway, aren’t retirement housebuilders insignificant given the numbers of pensioners who are downsizing today, asks BBC? Radio 4’s MoneyBox quizzed retirement housebuilders McCarthy and Stone and Churchill Retirement Living on […]

Clive Fenton to stand down as CEO of McCarthy and Stone after profits slump

Is the ground rent ban responsible? Sebastian O’Kelly I guess when you stand down as boss of a publicly quoted retirement housing company that has seen profits fall from £110 million to £65-£80 the headline-writing punsters are not going to miss a trick. So, Clive Fenton, 60, McCarthy and Stone’s CEO, is being “pensioned off” […]

Anti-ground rent trade body ARCO snubbed at retirement housing conference … (along with us, less surprisingly)

The anti-ground rent trade body ARCO has been snubbed and left uninvited by retirement housing insiders at a City law firm conference next Wednesday to discuss whether a Retirement Housing Act is needed. The Association of Retirement Community Operators, whose members build and manage their retirement housing and care sites for the long term, has […]

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Points to consider when buying a new retirement flat …

By Michael Epstein There can be no doubt that the new build and post 2010(non Firstport managed) McCarthy & Stone developments offer very good facilities are well managed and can offer residents a good quality of life. Increasingly extra services are being offered designated as “Assisted Living” No one can expect these services to come […]

LKP helps raise £14,682 for park home champion Sonia McColl OBE

Dear LKP and all the wonderful people who have helped me, Your amazing gestures of kindness have raised £14.682 pounds and I can not adequately say how grateful I am to you all. However, I hope you will all know how much it helps when a vital part of your life is stolen and you […]

Anchor and Hanover in talks to merge

Two housing associations which also build and sell private leasehold retirement properties are planning to merge. It is claimed that the proposed merger would make both organisations more efficient and allow economies of scale in employing contractors. A leaflet sent to residents of the associations says of the merger: “A new bigger organisation would be […]

Tchenguiz brothers fall out among themselves, says The Times

The Tchenguiz brothers – who before the crash were among the most powerful corporate players in the UK – are litigating again: this time among themselves, according to today’s Times. The dispute centres on the Tchenguiz Family Trust, based in the British Virgin Islands, which at one point claimed to own one per cent of […]

Please exempt retirement housebuilders from ground rent ban, pleads Sir Desmond Swayne

Senior Tory MP Sir Desmond Swaine has pleaded with the Communities Secretary to consider exempting volume retirement housebuilders from the ban on new ground rents. The MP for New Forest West – coincidentally not far from McCarthy and Stone’s Trump-style HQ in Bournemouth – asked in the Tuesday housing debate: “On new build leaseholds, is […]

Complain to Advertising Standards Authority about misleading ‘home ownership’ when applied to retirement leasehold tenancies

A veteran leasehold campaigner from Carlex earliest days, Susan Wood, has just repeated a complaint to the Advertising Standards Authority about leasehold tenancies being described as “home ownership” that she first made in 2012. Her first complaint concerned Churchill Retirement. Now she complains about McCarthy and Stone describing their flats in an advert in Saga […]

Love over 50: something we can agree about with McCarthy and Stone

Respect where it is due. Well done McCarthy and Stone for promoting love over 50. Here is the link to the full article: Dating for over 50s: how to find love in later life – McCarthy & Stone Love in later life can seem daunting. If you’ve been married for some years and are recently […]

Dear Mr Fenton: I don’t regret my purchase at Rosewood Court, but ‘leasehold is a rip-off’

All re-sales at Rosewood Court should falls in value from new, with several down £50-£60,000. The highest fall is flat 21 showing a fall from February 2004 to May 2017 of £81,500 Clive Fenton, CEO, McCarthy & Stone Dear Mr Fenton, My late wife and I purchased a McCarthy & Stone retirement flat at Rosewood […]

McCarthy and Stone: we want you to succeed, but you don’t need ground rents

By Sebastian O’Kelly Trustee, Leasehold Knowledge Partnership The retirement house builder McCarthy and Stone says that it is struggling, the newspapers are reporting. Profits are down more than 50 per cent for the first half of this year. And it is worried about the long-term implications of the government’s undertaking to reform ground rents, setting […]

Park home pensioners demand MPs dump the British Holiday and Home Parks Association from its All Party Parliamentary Group

Pensioners in park homes are demanding that MPs dump the British Holiday and Home Parks Association trade body be dumped as secretariat of the All Party Parliamentary Group that was set up to protect residents. The British Holiday and Home Parks Association is the organisation of the site owners! The APPG on park homes is […]

FirstPort Retirement is admitted to ARMA – finally

The controversial FirstPort Retirement managing agent has been admitted into the Association of Residential Managing Agents FirstPort, formerly Peverel, was responsible for systematically cheating pensioners in retirement sites which resulted in an Office of Fair Trading ruling of bid rigging in December 2014. The scandal involved its subsidiary Cirrus competing for expensive electronic door entry […]

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