The Times today (September 10 2016) reports the research 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 LKP patron Sir Peter Bottomley, who earlier this week established the All Party Parliamentary Group on leasehold and commonhold, […]
Campaign against Residential 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 LKP from figures in the Land Registry. For years we have been saying that retirement property can be […]
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 […]
… 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 family […]
The Campaign against Residential Leasehold Exploitation agenda for reform of retirement housing has been given a ringing endorsement by a report published today by AgeUK. The report, Housing in Later Life, arrives just as the Competition and Markets Authority appears to be manoeuvring to downplay concerns in retirement in its leasehold sector inquiry.
Retirement exit fees may get the chop, at last! The new DCLG leasehold team, with whom Campaign against retirement leasehold exploitation / LKP has been working closely, yesterday announced a range of measures in addition to “Florrie’s Law” (see LKP) and acceptance that the leasehold sector is far larger than was previously thought. They include […]
Both the FT and the Sunday Times are suggesting that the hedge-funders who took on the debt at McCarthy and Stone could be in for a killing if it floats next year for £500 million. Both papers report that says hedge fund owners pumped £367 million of equity and a five-year loan to slash borrowings.
Last Friday, Peverel was expelled from the House Builders’ Federation campaign to reinvigorate the retirement housing market. Its logo was removed from the campaign’s website, while earlier in the week the homeless charity Shelter also decided to jettison the campaign. AgeUK – which last year removed its logos from the Peverel Retirement site – had […]
The charity Shelter appears to have ceased involvement in the ‘Campaign for Housing in Later Life’, which Campaign against retirement leasehold exploitation revealed on April 9 registered its website to the address of the Bournemouth HQ of McCarthy and Stone. The Shelter logo that appeared on the campaign’s website has been removed. Since publication by […]
The Campaign for Housing in Later Life has been traced back to the Bournemouth headquarters of McCarthy and Stone. The website, which seems to have been started last autumn, has a registered IP identification that uses the same postal address as the retirement leasehold developer. Other backers whose logos adorn the website include Peverel, Anchor […]
The influential BBC Radio 4 programme You and Yours yesterday featured retirement leasehold. This is an area of “most concern” according to Douglas Cooper, of the Office of Fair Trading, which is carrying out an inquiry into leasehold management. The programme can be heard here and the item begins 46 minutes into the programme.
McCarthy and Stone has decided to give Peverel its marching orders at 25 retirement sites where it still owns the freeholds – although two weeks ago it said it was not going to do so (see below). Many of the sites still have flats for sale and it is likely that the housebuilder that pioneered all […]
A son trying to sell his deceased mother’s retirement leasehold flat has been told that he will have to pay double the council tax on the empty property. The flat has fallen foul of Chester’s efforts to penalise owners of empty properties so that they are brought back into use – and increase revenues for […]
McCarthy and Stone has replied on its website to the exposé carried out by Channel Four’s Dispatches on Monday evening. You can read the page here It says: “Treating our customers with fairness and respect is at the cornerstone of what we do and over the course of the last 35 years, our staff have […]
Tonight’s Dispatches programme on retirement leasehold was a brilliant example of television journalism that was extremely damaging to both McCarthy and Stone, and to Peverel. It is excellent that Peverel’s disgraceful treatment of the pensioners at Strand Court, Rye, has been given a wider airing. Read original story here or search Strand Court on this […]
Tomorrow night (Monday) at 8pm Channel Four’s Dispatches carries out a special investigation into the fraught world of retirement leasehold with much of the material provided by an undercover pensioner ‘spy’. LKP activists have been interviewed for the progamme, and LKP has given the filmmakers, October, full assistance over the past few months – although […]