April 8, 2020

£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.

Seller at Felbridge Court expresses frustration at unending sales fees

Adam Schmidt, who inherited a retirement flat at Felbridge Court in Feltham, has written to the Sunday Times and to Campaign against retirement leasehold exploitation about his frustrations at the raft of fees payable when the flat is sold. He has written to 10 MPs, the ARHM, ARMA, FPRA, OFT, the Leasehold Advisory Service, Campaign […]

Inquest over fatal fire at Gibson Court reported by media

Two and a half years after her death the inquest is finally taking place into the death of Irene Cockerton, 87, in the fire at Gibson Court, in Surrey. Local media are reporting the inquest, which will conclude at the end of the week. A verdict will take several weeks. Mrs Cockerton died of smoke inhalation […]

Mail on Sunday today: Campaigners want an end to this endless cheating

The Mail on Sunday has today devoted more than a page of editorial to leasehold issues. The article bluntly outlines the abuses faced by leaseholders at the hand of monetising freeholders and the property managers, surveyors and lawyers who serve them. The article is illustrated with a photo of Emma Reynolds, MP, the Labour shadow […]

Sunday Times covers retirement leasehold … and wants to hear from you

Today the Sunday Times has run an article on retirement leasehold, featuring issues at Elim Court in Plymouth. This site is involved in a marathon right to manage application against freeholder Avon Freeholds, owned by Israel Moskovitz. It is managed by Moskovitz’s business partner Joseph Gurvits, of Y and Y Management, which is a member […]

LKP / Campaign against retirement leasehold exploitation wins second press award

Sebastian O’Kelly, Campaign against retirement leasehold exploitation chairman and director of the Leasehold Knowledge Partnership, last night won a press award for his coverage of leasehold for the second year running. O’Kelly won the “Scoop of the Year” category for his report into the scandalous forfeiture of the £800,000 flat belonging to Dennis Jackson, at […]

You and Yours features Campaign against retirement leasehold exploitation and OFT inquiry into leasehold management

The influential BBC Radio 4 programme You and Yours yesterday featured retirement leasehold. This is an area of “most concern” according to Douglas Cooper, of the Office of Fair Trading, which is carrying out an inquiry into leasehold management. The programme can be heard here and the item begins 46 minutes into the programme.

OFT’s ‘leniency’ deal saved Peverel / Cirrus £4m in fines, says The Oldie

The cleverness Peverel demonstrated over the Cirrus scam was revealed in The Oldie magazine this week. Had Peverel not suddenly decided to come clean in December 2009 – just after the issue had been reported in the Times, but before the full Campaign against retirement leasehold exploitation submission arrived in January 2010 – it could […]

Contact Campaign against retirement leasehold exploitation before buying a leasehold retirement flat, says Daily Mail

By Sebastian O’Kelly Advice from the Daily Mail last week on buying a leasehold retirement property: contact Campaign against retirement leasehold exploitation first! Well, at least you will get the downside of this property transaction. Any purchaser must understand – as an experienced property investor put it to me last week – McCarthy and Stone […]

The Independent covers Cirrus and other leasehold scandals

Last Saturday, The Independent wrote a wide-ranging report on leasehold issues including the Cirrus scandal and the need for reforms. Headed ‘The secret of how to give your flat a new lease of life … ‘  it was, in fact, a round-up of: the Cirrus scandal, the OFT investigation into leasehold (the scope of which concludes on […]

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