The Times today suggests that families have lost £3 billion on the resale of leasehold retirement flats between 2001 and 2015 in a series of articles that add up to a devastating investigation of the sector. Some 80 per cent of the properties sold had fallen in value, with an average loss of £38,846, the […]
Archives for November 2019
The Times says families ‘lost £3 billion’ on resales of leasehold retirement flats, while developers and freehold speculators made millions
November 23, 2019 By
Churchill Retirement donates £150,000 to Conservatives. To retain ground rents, by any chance?
November 22, 2019 By
Churchill Retirement, which belongs to the McCarthy family who founded McCarthy and Stone, yesterday gave £150,000 to the Conservative party. Churchill Retirement has led the rear-guard action to exempt retirement housing from the government’s three-times repeated promise to reduce new ground rents to zero. McCarthy and Stone, on the other hand, more or less conceded […]
Guardian reports dismal retirement flat re-sale prices, as seller ponders £28,000 offer
November 18, 2019 By
‘My flat was £161,950 in 2007 – now I’m offered just £28,000’ When Tony Cross’s father was the first buyer at a McCarthy & Stone retirement development in Folkestone, Kent, he thought he was getting a bargain. The sales rep offered him an “early bird” discount, knocking £3,000 off the cost of a one-bed flat, […]
