– 16 commonhold properties in Pickering, North Yorkshire, originally for over-55s – Built by New Zealand architect, who did not exploit the monetising possibilities of English leasehold law – Swimming pool, guest suite, communal gardens, orangerie, underfloor heating, communal boiler – Three still for sale. £2,000pa service charge Spire View in the attractive market town […]
… So about average for our dismal retirement housing market BBC Radio 4’s You and Yours programme featured retirement housing this afternoon in an item on the Methodist Housing Association. It can be heard here at 08:09. Penelope Garnham’s mother, who died in February 2012 aged 96, paid £125,000 in 2007 for a flat in Rowanberries […]
Next Wednesday former chief executive of Peverel Retirement Keith Edgar will try to persuade residents at Grace Darling House in Poole to appoint his new company Freemont Property Managers to take the site right to manage. A minority of residents are deeply concerned at the proposal, with many feeling that they would be better off […]
UPDATE August 12 Yesterday evening Susan Earnshaw returned Carlex’s phone call and we discussed the issues of Tatton Court and Willow Court and the services provided by her company. We publish her full response below, but make a number of points: 1/ We tried but were unable to contact Mrs Earnshaw prior to publication of […]
The Mail on Sunday personal finance section went over the issue of leaseholders exercising right to manage and buying the freehold yesterday. The article can be read here It referenced the LEASE survey that found that 57 per cent of leaseholders regretted buying their property. This is a figure quite unprecedented in other jurisdictions where […]
Residents at Downy Court in Poole are voting to end their live-in house manager service at the end of the month as a way of cutting service charges.
The flat is one of hundreds owned by FirstPort that was granted a lease in 2009, when Vincent Tchenguiz, who owns the freehold, also owned Peverel, which became FirstPort last year.
The residents have already received £6,200 in LED lighting and FirstPort will put £5,000 into the contingency fund.
A two-bedroom flat at Downy Court is offered for sale at £118,000, so if the residents vote to end the in-house manager’s service they will also be making an extremely generous gift to FirstPort.
Another day, another retirement site – Warner Court – decides to break free of the Vincent Tchenguiz organisation and FirstPort to appoint its own management through right to manage. The RTM at Warner Court, in Sandhurst, Berkshire, takes over on September 15, which means another retirement site will almost certainly slip from FirstPort’s grasp. The […]
Just about every marketing department in the country has come up with Brexit “research” to grab headlines, and FirstPort’s Retirement Homesearch estate agency has joined in. It says that in the second quarter of 2016, new buyer registrations for retirement properties slipped by more than 20% from the first quarter to 4,744. This figure is […]
Leasehold sales are bedevilled by ‘extortionate’ charges and game-playing, says the Conveyancing Association
… Conveyancing Association calls for enforcement of reasonable fees, and it wants Land Registry to register ‘lease administrators’ who handle sales … It claims there is ‘an imbalance of bargaining power between the lease administrator and the leaseholder’ … 34 per cent of estate agents say leasehold sales are a ‘nightmare’ … LKP tells the […]
Leasehold is a feudal, wasting asset with opportunities for exploitation, says the Financial Times in a devastating article
Leasehold properties make up 43 per cent of all new-build registrations with the Land Registry for England and Wales, and 3,000 of those were for leasehold houses. That is one of the findings in the Financial Times’s three-page cover story in its FTMoney section, published this weekend. The article, written by personal finance veteran Lindsay […]
Carlex has received a report that Freemont Property Managers have been appointed to take Grace Darling House to right to manage. It will then manage the site, we are informed. The site is at present run by Stonewater housing association. Freemont Property Managers is run by former senior executives of Peverel. In December 2013, the […]
UPDATED August 1 2016. 20:17 Residents at Sandbanks at Hoylake, in the Wirral, are pondering the issue of whether to continue to have an in-house manager. It is a later McCarthy and Stone retirement site, completed in 2008 and one of the last freeholds to be sold off to Vincent Tchenguiz’s interests, in this case, Fairhold […]