I am writing to make you aware of the exorbitant transfer fees, contingency fee & charges for information packs that we were charged by E&M Estates Management Ltd when I sold my parents flat last week. The flat in question was built by Mcarthy & Stone in Deal, Kent, managed by Peverel & now E&M.
Transfer Fee £1,499.50
Contingency Fee £1,800.00
E&M Information pack £135.00
First Port Info pack £318.00 (charged by First Port Retirement Property Services Ltd – who administer the ground rent)
The Transfer fee seems an exorbitant amount just to check if the person(s) buying the flat are capable of maintaining an independent lifestyle (according to the copy of the lease we have)
The Contingency fee is somehow related to the service charge, which has already been paid (on a bi-annual basis) which already contains a charge for contingencies. So there’s a double charge?
I can’t understand the charges for the information packs from E&M & First Port – over £450 for a couple of booklets that could be photo copied or provided online?
I was shocked at these extra charges as both of my parents have had to go into care homes & have to pay for their care from the proceeds of the sale. I’m sure if more people were aware of these charges they would reconsider their options when buying retirement homes, especially if they are being managed by E&M or First Port.