June 19, 2019

Woodchester Valley Village: this is what can be achieved when a retirement site manages itself

The Daily Mail today runs an article about Woodchester Valley Village: thought to be the only mutually owned retirement village in the country. The village, four miles outside Stroud, has been in other publications such as the BBC and the Guardian, here

‘Curtains for exit and sublet fees’ by Law Commission … but not until March 2017

Leasehold exit and sublet fees have been referred to the Law Commission, which will almost certainly be the end of them. This means anyone selling or renting out a retirement or non-retirement flat should keep all documentation with a view to making a claim in two and half years time.

McCarthy and Stone reform sublet fees after discussions with Campaign against retirement leasehold exploitation

Following discussions with Campaign against retirement leasehold exploitation, McCarthy and Stone is dropping the one per cent contingency fund contribution that has to be paid every time a flat is rented out. It is replacing the sublet fees, which are a percentage of either the purchase price or market value of a flat, with a one-off […]

McCarthy and Stone float: before we expand retirement housing, here are a few urgent reforms …

COMMENT So the sharper end of the City reckons its punt on retirement housing may pay off next year. The Sunday Times article on the possible float of McCarthy and Stone was preceded by one in the FT, here According to the FT a number of investment banks have been in contact with McCarthy and […]

Will hedge-funders clean up in £500 million float for McCarthy and Stone?

Both the FT and the Sunday Times are suggesting that the hedge-funders who took on the debt at McCarthy and Stone could be in for a killing if it floats next year for £500 million. Both papers report that says hedge fund owners pumped £367 million of equity and a five-year loan to slash borrowings.

Meeting with shadow housing minister Emma Reynolds

Campaign against retirement leasehold exploitation / LKP met shadow housing minister Emma Reynolds yesterday to discuss problems in the leasehold sector. The meeting was organised by Jim Fitzpatrick, the Labour MP for Poplar and Limehouse, who has some of the richest and poorest leaseholders in the country in his constituency. He has become a firm […]

AgeUK would not get involved, Shelter has quit, Peverel has been expelled and Esther Rantzen is asking questions … the fiasco of the Campaign for Housing in Later Life

Last Friday, Peverel was expelled from the Home Builders’ Federation campaign to reinvigorate the retirement housing market. Its logo was removed from the campaign’s website, while earlier in the week the homeless charity Shelter also decided to jettison the campaign. AgeUK – which last year removed its logos from the Peverel Retirement site – had […]

Shelter ‘dumps’ the Campaign for Housing in Later Life

The charity Shelter appears to have ceased involvement in the ‘Campaign for Housing in Later Life’, which Campaign against retirement leasehold exploitation revealed on April 9 registered its website to the Bournemouth HQ of McCarthy and Stone. The Shelter logo that appeared on the ‘Campaign’s’ website has been removed. Curiously, since publication by Campaign against […]

Campaign for Housing in Later Life traced to … McCarthy and Stone HQ!

(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 […]

The final exit fee – it’s your funeral, from McCarthy and Stone

A mischievous 80-year-old Campaign against retirement leasehold exploitation reader sends in this latest flier that has popped into his letter box: the McCarthy and Stone funeral plan. The company that pioneered retirement leasehold – with exit fees, subletting fees, atrocious re-sale values etc – is eager to ensure that your “loved-ones” aren’t left out of […]

McCarthy and Stone gives Peverel the push at 25 retirement sites

McCarthy and Stone has decided to give Peverel its marching orders at 25 retirement sites where it still owns the freeholds – although two weeks ago it said it was not going to do so (see below). Many of the sites still have flats for sale and the housebuilder made no attempt to defend Peverel’s […]

We need ten new Manchesters to house elderly, says McCarthy and Stone. Fine, so long as you don’t build them

UPDATE June 8: McCarthy and Stone has no ongoing relationships with Lloyds Bank It is a fantasy figure which Housing Minister Mark Prisk has already consigned to the bin: 10 Manchester sized cities over the next 20 years is required to house the ageing population. This nonsense comes from McCarthy and Stone, which is in […]

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