July 19, 2024

Archives for October 2023

Platinum Skies: £63,000 loss on £130,000 shared ownership retirement flat after new owner died 25 days after moving in

LKP wins reprieve for family as Platinum Skies makes £28,237 ‘gesture of goodwill’ Executive chairman Julian Shaffer references ‘truly exceptional’ case of pensioner’s death at the start of Covid lockdown in April 2020 and the market disruption that followed Exit and other fees are reduced ‘as a compassionate gesture of goodwill given the particular and […]

Shared ownership: Immensely complex; nothing shared when it comes to costs; clever ‘investors’ scent a revenue source to replace ground rents

By Sebastian O’Kelly This is a longer version of an article I wrote for the i Newspaper last week: Why shared ownership is the most problematic form of housing The shared ownership leases have come with the usual nasties designed to ramp up the value of the freehold interest, whether to the benefit of housing […]

Park home owners demo against 10% sales commissions

Park home owners marched on 10 Downing Street on September 18 to protest against the 10% resale commissions levied on their properties at resale by site owners. Chanting “We pay 10%. What do we want? Zero!” a delegation headed by Sonia McColl OBE, the veteran park home leader, accompanied by Sir Peter Bottomley, delivered a […]

Three quarters of Churchill Retirement flats have lost money when resold, says The Times

An analysis of Land Registry data has shown that three-quarters of the flats built by Churchill Retirement – owned by the McCarthy family who founded McCarthy and Stone – have resold at a loss, according to The Times. The average fall in value has been 18%, or £43,000, the newspaper said, with one flat in […]