On 1st September 2008, McCarthy Stone abolished this fee on all leases in all developments built after that date. London N1 9AG, Copyright © 2020 Leasehold Knowledge Partnership | All rights reservedLeasehold Knowledge Partnership Limited (company One hour of domestic assistance per week is included in the service charge. Ground rent income goes towards the construction costs of the communal areas we provide. The care packages can be increased or decreased as your needs change. Heating costs are also often lower due to our modern construction methods and the more manageable size of the new apartment. All care and support services can be provided by our on-site care staff. McCarthy & Stone (MCS) may be lobbying the government for an exemption from proposals to crack down on ground rents on new leasehold properties, but it is preparing for the worst nonetheless. If you do not allow these cookies, you may see more content and adverts that do not match your interests. The OFT challenged McCarthy & Stone, Fairhold and other key retirement property developers on the grounds that exit fees were potentially unfair terms in consumer contracts or leases. Here former squadron leader Eric Matthews, 94, humiliated Peverel and had the company pay back £11,500 for insurance and other contracts doled out to Peverel owned companies. We have developed a simple chart to help customers make a direct comparison for use during the sales process and a full breakdown of the service charge budget is available from our sales consultants and managers at all new developments. You can also store Class 3 (maximum speed 8 mph) scooters in the storeroom, which often contains a charging facility. VAT SINGLE AND MULTIPLE SUPPLIES Talacre zero rating of new houses appellant selling retirement flats with the benefit of the use of furnishing in common areas whether zero rating of single supplies encompasses matters outside the express words of Group 5 Sch 8 VATA-meaning of premium in Note(14) But if a homeowner or their family is experiencing difficulties in paying, we are here to help and will do our best to support them. If you do fall behind with your payments, your landlord will contact you to arrange payment, or to work out a payment plan to suit the circumstances. Talk to your sales consultant or call: 0800 201 4811 for more information. Bear in mind you may get a higher price on the open market. Norman Greed, 82, showed that pensioners can organise a successful right to manage and slash the burden of their service charges. The team has a unique understanding of retirement living, enabling us to communicate all the benefits clearly. Conditions apply and the sales team can explain these in detail to you. During the COVID 19 crisis weâve reduced our brochure mailings to once a week on a Tuesday to ease the strain on our printers and distributors. Download the Tenancy Deposit Scheme leaflet. You will pay a deposit and at this point the agreement becomes legally binding â which means neither party can change their mind without incurring a penalty. Each development has their own lease requirements, so it is always best to check, but usually to have sole occupancy of a Retirement Living apartment you need to be aged 60 or over. Ground rents are payable on leasehold properties in England and Wales. Ground rent £495 per annum. Call them on: 0345 556 4126 or find out more. But if you still can’t find the information you are looking for please call us on: 0800 201 4811 or get in touch online. Or talk to us on 0800 201 4811. This concession will apply for a maximum period of two years, after which time we will revert to the terms of the lease.  UKFTT 727 (TC) TC03104. You’ll benefit from an on-site restaurant or bistro, a 24-hour Estate Management team, and the option of bespoke domestic and personal care package. Mrs Grimsdale discovered that she would be £65,000 better off selling her own house and buying a McCarthy and Stone flat for cash – the discount for a cash purchase being much better than the supposed discount for a part-exchange. They exist primarily to help homeowners negotiate on things like repair schedules, finance and social activities. 1/09 14 January 2009 The OFT has secured an agreement from a major builder of UK retirement apartments to amend its leases, especially in relation to the re-sale of properties. Most problems can be solved quickly and informally by our House/Estate Managers or sales consultants, so please do speak to the team first. If that sounds stressful you might choose to part exchange â which means weâll buy your property from you. McCarthy and Stone said that they did not agree with the OFT's view but co-operated and agreed to the changes, see: Retirement housing company agrees to change its lease agreements. You can staircase to 100% at which point the property would be wholly owned. Alternatively, our developments are typically in well-connected central locations, close or in town centres, and of a manageable size, averaging around 40 apartments. From this, we introduced a new self-regulatory regime for our members in 2014 known as ARMA-Q. During the COVID 19 crisis weâve reduced our brochure mailings to once a week on a Tuesday to ease the strain on our printers and distributors. Yes. To achieve victory in the leasehold game where you are playing against professionals and with rules that they know all too well - stay informed with the LKP newsletter. We will contact you to arrange a convenient time. Yes, the hour support is included in the service charge at a flat rate. There is no obligation for you to accept. Marion Bowley, in Weston super Mare, was offered £140,000 for her pleasant family house. With regard to subletting on leases prior to October 2014, we will charge a concessionary rate (irrespective of the provisions in the lease, which may be higher) of one monthâs rent for each year that the apartment is sublet (or pro-rata for less than a year). We also offer a car club. the leasehold) of certain property for a fixed period of time (such as 99 or 125 years). Additional information for living in a Retirement Living PLUS apartment (over 70s only). You can read our briefing note here. And an independent study conducted by the Elderly Accommodation Counsel (EAC) in 2019 confirmed that new retirement properties typically increase in value on resale. Administrators were at pains to … Kitchens are fully fitted with white goods which come with a 2-year guarantee. 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