April 24, 2018

Complain to Advertising Standards Authority about misleading ‘home ownership’ when applied to retirement leasehold tenancies

A veteran leasehold campaigner from Carlex earliest days, Susan Wood, has just repeated a complaint to the Advertising Standards Authority about leasehold tenancies being described as “home ownership” that she first made in 2012. Her first complaint concerned Churchill Retirement. Now she complains about McCarthy and Stone describing their flats in an advert in Saga […]

Love over 50: something we can agree about with McCarthy and Stone

Respect where it is due. Well done McCarthy and Stone for promoting love over 50. Here is the link to the full article: Dating for over 50s: how to find love in later life – McCarthy & Stone Love in later life can seem daunting. If you’ve been married for some years and are recently […]

Dear Mr Fenton: I don’t regret my purchase at Rosewood Court, but ‘leasehold is a rip-off’

All re-sales at Rosewood Court should falls in value from new, with several down £50-£60,000. The highest fall is flat 21 showing a fall from February 2004 to May 2017 of £81,500 Clive Fenton, CEO, McCarthy & Stone Dear Mr Fenton, My late wife and I purchased a McCarthy & Stone retirement flat at Rosewood […]

ARCO snubs McCarthy and Stone / Churchill by saying there is no need for ground rents

The trade body the Association of Retirement Community Operators announced yesterday that ground rents are “not essential” in retirement housing and it backs the government in ending them. The announcement directly contradicts McCarthy and Stone and Churchill. Both have argued that they need ground rents for the viability of retirement housing projects and without them […]

ARHM cannot see a future in traditional ‘granny flat’ volume retirement sales

Annual conference hears why renting, mutuals or guaranteed buy-back schemes are more attractive than leasehold flat sales Not one attempt was made to defend the volume retirement housing business model as it came under sustained attack at the annual conference of the Association of Retirement Housing Managers last week. The keynote speaker Sebastian O’Kelly, of […]

Resale disaster zone: Burlington Court in Bridlington, where one flat has sold for £36,000

5 flats sold for less than £50,000. 12 flats less than £60,001 The dismal state of retirement flat resales is starkly illustrated by figures from the Land Registry concerning Burlington Court in Bridlington. Five of the flats here have been sold for less than £50,000; seven of the flats have sold for less than £60,000. […]

Elderly Accommodation Counsel says half new-build retirement flats fall in value on resale

BBC R4 MoneyBox today claims that around half of new build retirement homes sold during a 10-year period were later re-sold at a loss. This has long been a concern of BetterRetirementHousing.com, formerly the Campaign Against Retirement Leasehold Exploitation. In all our criticisms of resale prices we have relied solely on unarguable data from the […]

Ground rents are essential to McCarthy and Stone’s business model

… but leaseholders are concerned it is selling freeholds to anonymous buyers … McCarthy and Stone complains about ‘right to reply’ to LKP / Better Retirement Housing articles McCarthy and Stone told The Times yesterday that there would be fewer of its form of retirement flats if the government reduces ground rents to a minimal […]

Pensioners hammered with 88% rise in ground rents

… Often in sites with dismal resale values Thousands of pensioners living in older retirement properties are facing a massive hike in ground rents: 88 per cent is not unusual. The older leases of mass retirement housing builder McCarthy and Stone are kicking in with huge hikes in ground rents. Ground rents at Churchill sites […]

Our ground rents are fair, says McCarthy and Stone (even though they go up to £600 and are for no service whatsoever)

DCLG Consultation Paper On Leasehold And Ground Rents – Statement – McCarthy & Stone See our response to the DCLG consultation paper on Leasehold and Ground Rents It is a fair bet that McCarthy and Stone will be making a strong submission to the DCLG into the leasehold houses and ground rent scandals firmly urging […]

4% of McCarthy and Stone earnings come from ground rents

The announcement yesterday by Sajid Javid, Communities Secretary, that he is to ban the sale of leasehold houses and reduce ground rents on new properties to “as low as” zero resulted from months of work by the Leasehold Knowledge Partnership. It will have a marked effect on McCarthy and Stone, according to an article in […]

Campaign against retirement leasehold exploitation is ‘slanted’ over retirement resale prices. The picture is more positive, says McCarthy and Stone

Statement from McCarthy & Stone The majority of properties managed by McCarthy & Stone have increased in value when resold (based on data relating to managed properties resold in 2016 to-date) and historical data suggests around a third of all our properties outperform their local market.  In addition, our newer properties are better-placed to retain […]

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