August 18, 2019

Retirement villages reported by BBC

The BBC website has reported some of the issues concerning retirement housing provision.   The piece examines the “retirement village” model of upscale retirement housing.   The full piece can be read here:   http://www.bbc.co.uk/news/business-34808285

Leasehold ‘a lucrative way to stop people from buying their own home outright’ – Daily Mail

Questions must now be asked of housebuilders playing the leasehold game by building leasehold houses wherever possible in preference to freehold. Some of the country’s biggest housebuilders – such as Persimmon and Bellway – are involved in the racket. Politicians supposedly concerned with issues of leasehold should be questioning this matter. Indeed, Persimmon should be […]

Bottomley tells BBC he will fight on for leaseholders

Sir Peter Bottomley, newly re-elected for Worthing West, told the BBC this morning that he will fight as hard as he can for leaseholders who have been ripped off. The interview on Brighton-based BBC Sussex also featured the retirement site Oakland Court where residents won a court case involving £137,000 paid in rent for the […]

Telegraph asks: Should you really buy a retirement property?

The Daily Telegraph yesterday published an excellent balancing article to the usual advert-friendly dross that accompanies features on retirement housing. It can be read here. Please do comment on it (and here, of course). Written by Fleet Street veteran Liz Hodgkinson, the article addresses the points raised by Campaign against retirement leasehold exploitation – which […]

Whistleblowers to the Serious Fraud Office ‘wasting their time’

Bad news for LKP / Campaign against retirement leasehold exploitation, our MP patrons, and anyone else who cares about the Sisyphean labour of trying to encourage integrity and honesty in our corporate governance. The law firm Pinsent Masons has found that 2,500 whistleblowers approached the Serious Fraud Office, but that only resulted in a dozen […]

Tchenguiz’s £2.2bn compo claim ‘liberally interspersed with assertions of fraud, falsity, dishonesty and improper motive’, says judge

(Sounds like an email to Campaign against retirement leasehold exploitation from an aggrieved leaseholder …) Vincent Tchenguiz’s £2.2 billion legal action against accountants Grant Thornton has suffered a set-back as his documentation was described by a judge as “too long and failed to make clear the facts of the case”. Tchenguiz wants compo from Grant […]

Telegraph reproduces press release over retirement housing

The Daily Telegraph has today reproduced a press release about the retirement housing sector, this time from construction analysts Glenigan. In full here “There is no doubt that potential demand for these types of property is large, and is only set to grow.

FirstPort – which was Peverel last week – makes debut in Private Eye

The satirical magazine Private Eye has featured Peverel’s name-change to FirstPort today. Referring to previous reports on Peverel as see “Eyes passim ad nauseam” it treats readers to a resume of Peverel’s recent unfortunate history. “FirstPort may turn out to be LastResort for the troubled management company,” is the pessimistic conclusion.

Private Eye reports Peverel re-employing Cirrus stooge Glyn Jackson

Private Eye today reports the Campaign against retirement leasehold exploitation story of OFT price-fixing cheat Glyn Jackson being re-employed at a Peverel site. Jackson, whose company went into liquidation and so avoided an OFT fine of £35,700, is back at work at the Adelphi site in Harrogate, which is managed by Peverel. He won’t be […]

£750,000 lost in SmartSource Water scandal

Following up the Campaign against retirement leasehold exploitation story of Hanover losing £500,000 over the SmartSource Water scandal, it now emerges that Housing 21 lost £250,000. Inside Housing, the newspaper for social housing providers, says SmartSource Water was like a “pyramid scheme” which has left several housing associations among creditors facing millions of pounds of […]

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.

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