August 20, 2018

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 […]

The Times: ‘Exit fees and poor resale values: the uncomfortable truth about retirement homes’

The Times today (September 10 2016) reports the research by Campaign against retirement leasehold exploitation into re-sale values recorded on the Land Registry for retirement properties. The article, headed “Exit fees and poor resale values: the uncomfortable truth about retirement homes”, quotes Campaign against retirement leasehold exploitation / LKP patron Sir Peter Bottomley, who earlier […]

Abysmal retirement housing values revealed on the Land Registry

Campaign against retirement leasehold exploitation examines official re-sale prices for McCarthy and Stone, Churchill Retirement Living, Audley Retirement, Retirement Villages, Retirement Security, Anchor and Pegasus A dismal picture of retirement housing values on re-sales is revealed by Campaign against retirement leasehold exploitation from figures in the Land Registry. For years we have been saying that […]

McCarthy and Stone stops hyping ‘virtual freeholds’

McCarthy and Stone has changed its publicity after claiming that by selling 999 year leases it was offering buyers homes that were “virtual freeholds”. Campaign against retirement leasehold exploitation took the issue up with chief executive Clive Fenton and the over-hyped expression has been dropped from McCarthy and Stone publicity. Its website has been amended. […]

Housing and Care 21: We’ve made a mess at Ashfield, so manage the site yourselves

Housing and Care 21 handed over the management to residents at Ashfield, a retirement site in Telford in Shropshire, after admitting that it had been badly run. For the past three months, the complex of 26 semi and detached bungalows with a community centre and flat above has been self-managed by the residents through a […]

Law Commission outlines ‘event’ fee report, but still wants to hear from leaseholders

About 100 of those who have contributed to the Law Commission report into retirement housing “event” fees were invited to an evening get-together at Westminster last Thursday. There was wine and canapés and gossip, after attendees had digested the evening’s theme “Building Fairness: Growing a housing market older people can trust”. Esther Rantzen was the […]

Realities of leasehold spelled out during the Housing Bill

– Commons urged to back amendment to abolish leasehold by 2020 in favour of commonhold – Tchenguiz, Peverel and Cirrus get another Commons naming – McCarthy and Stone told to explain collapsed second-hand values of retirement flats – Leasehold Knowledge Partnership praised, and thanked for reasonably accurate figures for leasehold sector Labour MP and LKP […]

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