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May 30, 2020

OFT does deal with Tchenguiz to cut sub-letting fees to £85 at retirement developments – but exit fees on sale still stand

OFT website outlining the agreement is here http://www.oft.gov.uk/news-and-updates/press/2012/77-12  The Office of Fair Trading (OFT) has secured undertakings from Fairhold Homes Ltd and associated companies (Fairhold) owned by the Tchenguiz Family Trust  to change how they charge and enforce transfer fee terms in their 53,000 retirement home leases. The OFT has been investigating exit fees, which are […]

OFT announcement on exit fees not as “substantive” as we all hoped … oh, and the timing has “slipped”

OFT website outlining the agreement is here http://www.oft.gov.uk/news-and-updates/press/2012/77-12  When the Office of Fair Trading finally says something about the issue of exit fees, it won’t be concerning the whole leasehold sector but only one single company. This information has been given to a Campaign against retirement leasehold exploitation / LKP activist in an email from one […]

Pay back my £1,150 exit fee, or we are off to court

Veteran Campaign against retirement leasehold exploitation supporter Susan Wood is considering legal action against the retirement development landlord Fairhold on the thorny issue of exit fees and wants back £1,150. The case concerns her deceased father’s flat at Kings Court, in Sheffield, where Wood and her two siblings were charged two per cent exit fees […]

OFT promises ‘substantive announcement’ on exit fees in August

A letter to a Campaign against retirement leasehold exploitation activist reveals that the Office of Fair Trading, whose seemingly interminable investigation into exit fees has lasted three years, will be making a “substantive announcement” in August. The news comes in a letter of July 11 from Martin Harvey, of the “Retirement Homes Investigation Team”. But […]

Exit fees: second response to Campaign against retirement leasehold exploitation from the OFT

  Anyone having to pay stealth charge exit fees on selling – or letting – their retirement flat may wonder whether John Fingleton, chief executive of the Office of Fair Trading, is worth his £279,999 salary. The OFT has been written off as toothless several times. It obviously just hoped the retirement flat issue would […]