March 26, 2017

Another day, another set of fees in a retirement flat sale …

Dear Sir/Madam, 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 & […]

Family hit with £9,341 contingency fee charge on Anchor’s Cherry Trees flat …

… that’s on top of a £26,950 fall in value after 11 years of ownership A family whose parents owned a one bedroom flat at Anchor’s 59-unit Cherry Trees site in Redcar, Cleveland, have been hit with a double whammy common in retirement leasehold. First, the flat for over-55s was bought for £79,950 in 2004 […]

‘Our flat at McCarthy & Stone’s Buckingham Court has fallen in value £60,000 in 14 years’

(… and what does the Elderly Accommodation Counsel / HousingCare.org actually DO, apart from advertise these properties for sale?) By Ian Robinson If you require an example of how bad the resale value of the properties are in the retirement market you need look no further than the McCarthy and Stone built Buckingham Court. We […]

Oldies should downsize and give retirement house builders lots of money, reports Telegraph

The Daily Telegraph has repeated a load of retirement house builder propaganda in a story about oldies downsizing. Story link is here It is basically a re-hash of the 2013 report by the think tank Demos, called The Top of the Ladder – which was paid for by the House Builders’ Federation on behalf of […]

Carlex at Number 10

LKP / Carlex were invited to 10 Downing Street for a meeting this afternoon to discuss the leasehold sector and the need for reform. Every area of the sector was discussed – including, at length, retirement housing – at a meeting that was held at the request of Sir Peter Bottomley, who was accompanied by […]

Will Lord Best’s proposals produce a healthy retirement housing market …

… Or help perpetuate what is already wrong with it?   – Government should underwrite retirement flat purchases like Help To Buy scheme – There should not be any stamp duty when downsizing – Schemes where some service charges are deferred until a property is sold should be ‘made available more widely’ – Retirement accommodation offers huge savings over maintaining […]

Seven months after buying our retirement flat, we have put it up for sale

– Couple deeply regret hasty decision – Why did they not RENT instead? – Churchill satisfied with sales procedures A couple who bought a one-bedroom retirement flat deeply regret making the hasty decision and were desperate to sell up – only seven months later. Evelyn Matthews, 78, and her husband Stan, 94, bought the one-bedroom […]

Family ‘horrified’ at £30,000 price difference between new and resale Churchill Retirement flats

  Carlex has received an anguished communication from a family considering a purchase of a flat from Churchill Retirement at Elgar Lodge in Malvern. It is priced at £172,000, but the family says it is “horrified” to discover a very similar resale flat in the same block, advertised by Churchill’s own management/ estate agency branch […]

Campaign for Housing in Later Life traced to … McCarthy and Stone HQ!

(But what on earth are Esther Rantzen and Shelter doing with this lot?) UPDATE June 8: McCarthy and Stone points out that over the credit crunch period (the five years between 2007/8 to 2011/12) it sold 7,170 properties.  The company takes issue with Carlex’s view that there has been “almost NO demand” and that “schemes […]

Contact Carlex before buying a leasehold retirement flat, says Daily Mail

By Sebastian O’Kelly Advice from the Daily Mail last week on buying a leasehold retirement property: contact Carlex first! Well, at least you will get the downside of this property transaction. Any purchaser must understand – as an experienced property investor put it to me last week – McCarthy and Stone and Peverel are absolute […]

Crisis in retirement housing is all down to planners, says ARCO (not greedy operators drawing up sneaky revenue-earning leases or management companies on the fiddle)

Here we go again! The apologists for property developers are blaming planners again – this time for the crisis in retirement housing. Something called Associated Retirement Community Operators (ARCO), which represents retirement village operators such as Anchor, Hanover, Retirement Villages etc, says the current provision of specialist retirement housing is “woefully inadequate”.

Retirement leasehold flat falls £119,000 in two years

Never, EVER buy property like this! Never use part-exchange schemes Don’t use a developer’s solicitor – that in itself is a disqualification If you absolutely insist on buying retirement leasehold – as opposed to renting first – then buy a re-sale property, not a new one with a “value” that’s just a salesman’s try-on Carlex […]