Pensioners at two Stonewater housing association retirement sites are said to be seeking right to manage using Freemont Property Managers – the company founded by ex-Peverel politburo members.
Some held senior positions in the company when Peverel’s subsidiary Cirrus was systematically cheating pensioners in a price fixing racket that was busted by the Office of Fair Trading. Full archive here
The elderly and vulnerable were robbed of £1.4 million at 65 retirement sites between 2005 and 2009, according to the OFT.
Campaign against retirement leasehold exploitation has been told that leasehold residents at Grace Darling House, a 28 flat site at Vallis Close, Green Lane, Poole, Dorset, BH15 1XZ, and Avonlea Court (52 flats) at Cloverdale Drive, Longwell Green, Bristol, BS30 9XZ, are employing Freemont Property Managers to achieve RTM.
Campaign against retirement leasehold exploitation contacted former Peverel CEO Nigel Bannister and former managing director of Peverel Retirement Keith Edgar, both of whom are founders of Freemont, for comment.
Neither Mr Bannister nor Mr Edgar were renowned for supporting leaseholders’ RTM when they held senior positions at Peverel.
Freemont Property Managers (“Honest, flexible, professional”) states on its website: “Need help and advice with right to manage? We are here to guide you through the process.”
Campaign against retirement leasehold exploitation’s correspondence was copied to the local MPs Robert Syms, Poole, and Chris Skidmore, Kingswood, Bristol, and Sir Peter Bottomley, MP patron of Campaign against retirement leasehold exploitation.
Campaign against retirement leasehold exploitation asked:
“Given that you are offering this service to ordinary leaseholders, including those in advanced old age, rather than informed leasehold sector professionals, is it not appropriate for you to address publicly the most egregious scandal in retirement housing in the last 30 years?”
There was no reply.
Just before the OFT began its inquiry, Mr Bannister informed the Times newspaper in an interview in November 2009:
“People are reading a conspiracy into a problem that isn’t there. We use Cirrus because it is an excellent service.”
A fortnight later, Peverel / Cirrus was co-operating with the OFT investigation into just such a conspiracy.
Whilst Campaign against retirement leasehold exploitation/LKP rightly points out the collusive tendering scandal that occurred whilst the current directors of Freemont Property Managers were at the helm of Peverel, let us not forget the up to 40 % insurance commissions and the record repayments awarded to developments such as the Lace Market or Charter Quay?
Nor should we forget the time that the former Prime Minister, David Cameron actually ordered Keith Edgar to remove Peverel as managers for a development in his Whitney constituency?
And let us not forget either, the description given to Peverel by the former MP Ed Davey as a “monstrous company”.
And while we have a trip down memory lane, who could forget the treatment of the 96 year old WW2 Squadron Leader , Eric Mathews?
Clearly there are many valid reasons why Freemont Property Managers should be avoided.
Corrupt business as usual in the London & UK property market with beneficial ownership concealed via offshore companies:
So,a corrupt person can launder money derived from criminal activity by purchasing freehold properties via an off- shore shell company. How ironic it is then that a leaseholder can have their freehold bought up from under their noses by such a person,and yet should the leaseholder be in dispute with that freeholder, they could be held in default and be forced to forfeit their lease to the freeholder?
And some people in positions of power still believe leasehold works?