UPDATES APRIL 5, 17.51: In a statement justifying its policy, Anchor Retirement refers to the Office of Fair Trading report which stated that “terms in long leases preventing sub-letting have potential for unfairness” and that “permission [to sub-let] should not be unreasonably withheld”. See below APRIL 5 It emerges that another Anchor Retirement site is in ferment over this […]
Search Results for: anchor sub letting
Fury at Anchor Trust allowing sub-letting as retirement leasehold market turns sour
December 14, 2012 By
Residents at an upmarket retirement development in Oxfordshire are incensed that the Anchor Trust appears to be intent on permitting sub-letting even though this may be in breach of the lease. In a nationwide policy, Anchor Trust is allowing leaseholders, or their executors, to rent the properties in exchange for a fee of £175 plus […]
Family hit with £9,341 contingency fee charge on Anchor’s Cherry Trees flat …
January 1, 2016 By
… that’s on top of a £26,950 fall in value after 11 years of ownership A family whose parents owned a one bedroom flat at Anchor’s 59-unit Cherry Trees site in Redcar, Cleveland, have been hit with a double whammy common in retirement leasehold. First, the flat for over-55s was bought for £79,950 in 2004 […]
‘Sub-letting fees aren’t fair, and I’m not paying’
February 13, 2012 By
A fanfare of trumpets for Joanna Worth, 49, who is making a stand against exit fees. Joanna is defying Peverel, which is demanding one per cent of the capital value of her flat in Beckenham, Kent, because she has sub-let it out to a pensioner. So far she has received three communications from Peverel, including […]
We need retirement ground rent gaming like a hole in the head, says ARCO
July 7, 2023 By
Gaming the new ground rents ban by introducing them at the last possible minute was damaging to the entire retirement housing sector and “we need this like a hole in the head”, said the Association of Retirement Community Operators at its annual conference yesterday. Michael Voges, ARCO chief executive, deplored bad practices in retirement housing […]
Your Housing Group shared equity retirement flat that sold for £38,000 on ITV
August 29, 2019 By
A family who bought a shared equity retirement flat and lost £50,000 on its re-sale will feature on ITV tonight. Housing Crisis: What Next For The Elderly? Tonight Housing Crisis: What next for the Elderly? Tonight Most experts agree we are in the midst of a housing crisis but much of the focus has been […]
Your Housing Group shared equity retirement flat sells for £39,000, after three years on the market
January 9, 2019 By
A Your Housing Group shared 75% equity retirement flat has sold for only £39,129.26, after three years on the market. The property is at Your Housing Group’s Heyeswood Retirement Village, in Haydock, Merseyside. The property was bought by the mother of Cath White in August 2015 for £92,213 but has now sold – after three years […]
McCarthy and Stone: we want you to succeed, but you don’t need ground rents
April 16, 2018 By
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 […]
Methodist Housing Association flat falls 40% on re-sale, says BBC Radio 4’s You and Yours
August 24, 2016 By
… So about average for our dismal retirement housing market BBC Radio 4’s You and Yours programme featured retirement housing this afternoon in an item on the Methodist Housing Association. It can be heard here at 08:09. Penelope Garnham’s mother, who died in February 2012 aged 96, paid £125,000 in 2007 for a flat in Rowanberries […]
Law Commission outlines ‘event’ fee report, but still wants to hear from leaseholders
January 16, 2016 By
About 100 of those who have contributed to the Law Commission report into retirement housing “event” fees were invited to an evening get-together at Westminster last Thursday. There was wine and canapés and gossip, after attendees had digested the evening’s theme “Building Fairness: Growing a housing market older people can trust”. Esther Rantzen was the […]
Campaign for Housing in Later Life traced to … McCarthy and Stone HQ!
April 9, 2014 By
(But what on earth are Esther Rantzen and Shelter doing with this lot?) UPDATE June 8: McCarthy and Stone points out that over the credit crunch period (the five years between 2007/8 to 2011/12) it sold 7,170 properties. The company takes issue with Campaign against retirement leasehold exploitation’s view that there has been “almost NO […]
Crisis in retirement housing is all down to planners, says ARCO (not greedy operators drawing up sneaky revenue-earning leases or management companies on the fiddle)
November 27, 2013 By
Here we go again! The apologists for property developers are blaming planners again – this time for the crisis in retirement housing. Something called Associated Retirement Community Operators (ARCO), which represents retirement village operators such as Anchor, Hanover, Retirement Villages etc, says the current provision of specialist retirement housing is “woefully inadequate”.
