April 29, 2017

Carlex activist told OFT exit fee deal with Tchenguiz also includes Proxima

OFT website outlining the agreement is here http://www.oft.gov.uk/news-and-updates/press/2012/77-12  Carlex’s concerns that the Office of Fair Trading’s deal with the Tchenguiz Family Trust over exit and sub-letting fees would be restricted to Fairhold, as indicated on the OFT’s press release of September 6 (see below)  appear to be unfounded. Carlex activist Alan Eadie has received a letter […]

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 Carlex / LKP activist in an email from one of the OFT’s bureaucrats. […]

Shapps grilled on TV, leasehold report and OFT statement on exit fees

Today both Housing Minister Grant Shapps and Siobhan McGrath, the senior barrister who presides over the Leasehold Valuation Tribunal system, face the cameras as part of the Channel Four Dispatches documentary into leasehold. The programme will be shown on August  20. A second Dispatches programme on retirement leasehold is also nearing completition, although it has […]

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

Veteran Carlex 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 on sale. One per […]

Should this lady agree to sub-letting? Comments please

Dear Sir, or Madam, I have been living in a retirement flat that I bought nine years ago with a 99year lease. The freeholder and manager is a registered housing association. In the past there has never been a problem in selling these flats which were built in 1985 as they are in a very […]

OFT promises ‘substantive announcement’ on exit fees in August

A letter to a Carlex 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 there have also been […]

Sub-letting fees should not be more than £40, landlords are told (four times by the Land Tribunal)

Inevitably retirement flats are going to fall empty at some point, as the residents go into care or die, which leaves the owners’ heirs will the problem of what to do with them. Selling up is often difficult, as values of retirement properties have crumbled as badly as small inner city flats. Sometimes even more […]

Hanover: we wanted court case on exit fees, but OFT doesn’t

Devastating criticism of bungling OFT investigation by housing association that manages 17,000 retirement properties By “Barrack-room Lawyer” The Hanover Housing Association, which manages 19,000 retirement properties, has issued a devastating criticism of the Office of Fair Trading for its bungling investigation into exit fees. The transfer fees that leaseholders pay when retirement properties are bought […]

‘Sub-letting fees aren’t fair, and I’m not paying’

A fanfare of trumpets for Joanna Worth, 49, who is making a stand against exit fees. Joanna is defying Peverel, which is demanding one per cent of the capital value of her flat in Beckenham, Kent, because she has sub-let it out to a pensioner. So far she has received three communications from Peverel, including […]

Exit fees: second response to Carlex 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 […]

Peverel: how to sell up and avoid the fees

Are you in a retirement property, and in a position of trying to break free fron Peverel?  Maybe you’ve decided to move.  Or maybe bereavement has forced a sale. Here are a few pointers to guide you on your way, which have been collated from actual experiences. However, if any of you have anything to […]