Company Limited by Guarantee. Examples of this include setting your privacy preferences or filling in forms. Donât worry, weâll make sure you know the exact amount you need to pay in plenty of time. Secretariat of the All Party Parliamentary Group on leasehold reform Our Sales Consultants ensure that customers have a detailed knowledge of ongoing costs before a sale is completed. In most of our developments water and sewage is included in the rent. We do not allow smoking in your property or the communal areas. No. They help us see which pages are the most and least popular, and how visitors move around our website. You will be asked to run through some quick health questions before your visit and follow our safety procedures including a temperature check. Each time you staircase you need to plan for additional costs such as valuation fee, legal expenses, SDLT*/LTT** if applicable. Itâs also important to remember that our properties are more than simply a financial investment, they are an investment in the quality of life for our residents and their families. Services include help with going to bed and getting up in the morning, a sitting, night sleeping or waking service, preparing breakfast, getting to and from appointments or regular assistance during a period of convalescence. If you’d like to sell your McCarthy Stone property call: From âwhat is the service charge for?â to our policy on pets, youâll find the answers here. Once contracts have been exchanged a completion date will be confirmed by your solicitor and/or one of our Sales Consultants. Campaign against Retirement Leasehold Exploitation has asked both McCarthy and Stone and Churchill Retirement Living for data that demonstrates price increases at … Itâs important that the housing decision you take is suitable for your personal and financial circumstances, which is why we carry out an initial affordability check and require you to meet an Independent Financial Advisor (IFA) for a full financial assessment. I live in a McCarthy & Stone apartment block built in 2000 the Leaseholders are Fairhold Homes No4 with their allotted service managers then Peverel/FirstPort and we have constantly been complaining about increases in costs to service charges since we purchased in 2000 as you will have seen on Campaign against retirement leasehold exploitation archives & national media. McCarthy and Stone, which builds and sells retirement apartments on leasehold deals, saw its shares fall by more than 8%. 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. They are not suitable for people with significant care needs like advanced dementia. 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. This can be used by visiting guests and relatives — who can stay overnight in our guest suites. 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. A small additional charge will be added to guest meals. You’ll be asked for proof of income, savings and/or pensions, along with copies of your last three months’ bank statements. Talk to your sales consultant about the process or call: 0800 201 4811. The age restrictions for occupiers are often imposed by council planning departments and are in line with government policy which encourages purpose built accommodation for older people. ... to new-build homes being sold under leasehold agreements… When we use the information from these cookies it is grouped together and therefore anonymous. number: 08999652) is a company limited by guarantee that is a registered This is in spite of the hard sell, the dismal capital values and they fact that McCarthy and Stone draws up its disadvantageous and exploitative leases. The information used by McCarthy Stone can give you a more personalised experience on our site. We take complaints very seriously. If you do not allow these cookies, you may see more content and adverts that do not match your interests. We use small files called cookies to personalise your experience of our website, improve its performance and show you more relevant content. McCarthy Stone is part of the Tenancy Deposit Scheme, membership number G10625. On new developments where the freehold has been sold, it is a condition of the sale that McCarthy & Stone Retirement Lifestyles remains as the head landlord to ensure continuity for its homeowners and to ensure that they do not have to deal with any third party. It is held in trust and used only on the maintenance of that development and cannot be accessed by McCarthy Stone for its own purposes. We offer a function room at some developments. A small reservation deposit is needed to reserve your new home. “The home building industry is committed to ensuring that leasehold is used appropriately and remains a safe and secure tenure for homeowners. 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. No. Most of our developments are more than happy to welcome a well behaved pet to live with you in your new home. We do not offer care homes. Yes. This offer is available at selected McCarthy Stone developments, so make sure you check with the sales team on site. Unless we say otherwise, itâs your responsibility to arrange and pay for council tax, electricity, gas, water, sewage rates, TV licence etc. Frequently asked questionsWe’ve put together a list of answers to your most common questions about our retirement properties. Ground rent £495 per annum. For a free and confidential review, please visit our Entitlement Advice Service. The Leasehold Reform Housing and Urban Development Act 1993 (as amended) is legislation which provides an opportunity for an additional term of 90 years, at a peppercorn rent which is basically the same as being rent free. The security deposit is equivalent to five weeks rent. McCarthy and Stone Augustus House gave us the best options for personal reasons and most importantly gave flexible life style arrangements. *A 1% contribution of the resale price still applies upon resale. Our resales team can answer any questions you have. The cost is usually £25 per night for the room however this may vary depending on the development. Should you wish to end your tenancy after the 12 month fixed term, you need to provide two months written notice. London N1 9AG, Copyright © 2020 Leasehold Knowledge Partnership | All rights reservedLeasehold Knowledge Partnership Limited (company If we do not hear from you, we will assume that you agree that it is accurate. The council tax band varies per development. RPI has been in the range c.1-4% since 2013 and was 3.3% in March 2018. Benefits include:Itâs an affordable approach to owning a stunning new retirement home. due to a running tap etc). Service charges cover the day-to-day costs of management and maintenance within our developments, such as the heating and cleaning of communal areas, buildings insurance and redecoration. Homeowners can work with the chef to select the menu for their guests. Increases are linked to either the movement in the Retail Price Index (RPI) since the last review, or if greater, by 2% per annum, and are compounded yearly. We donât believe in a âone size fits allâ approach. *Stamp Duty Land Tax **Land Transaction Tax (LTT) has replaced SDLT in Wales from April 2018. Ground rent applies in England and Wales, but not Scotland, which operates under a different legal system. Unlike other housebuilders, McCarthy Stone retains this long leasehold interest until after the lease of the apartments on a particular development has expired. All care and support services can be provided by our on-site care staff. All developments since 2010 are managed by a division of McCarthy that it … Call them on: 0345 556 4126 or find out more. This goes into the sinking fund (the contingency fund) for each development, which covers maintenance of that scheme. Costs in Retirement Living PLUS developments are higher than in Retirement Living developments to reflect the increased staffing costs, the provision of domestic support packages, and the table-service restaurants/bistros provided on-site. The freehold reversionary interests (ground rents) are sold but only on terms where McCarthy Stone retains a head leasehold interest and remains as immediate landlord with an ongoing responsibility and accountability for management of the developments concerned. Yes. Roland Head explains why McCarthy & Stone plc (LON:MCS) has slumped and reveals the housebuilder he owns. McCarthy & Stone Retirement Lifestyles is the landlord in all new developments from September 2008. For a typical Retirement Living PLUS apartment (based on Chesterton Court in Ilkley), the latest service charge is £138.27 a week for a one-bedroom apartment and £184.31 a week for a two-bedroom apartment. If you havenât received a brochure within 10 days of your request then please give us a call on: Three independent local estate agents and a surveyor will value your property. Read the McCarthy Stone Ground Rent Briefing Note (February 2020). So you only pay for the care you need at the time you need it. These fees are paid into the developmentâs sinking/contingency fund and are for everyoneâs benefit. The service charge budgets represent the costs that we expect to incur in a normal year, with a full development. Yes. Unfortunatly Covid 19 raised its’ head. Our ground rents are comparable with those charged by other providers of retirement living accommodation and are competitive within the housebuilding industry. Yes. By Simon Tye, Legal Adviser September 2017 Health and safety in blocks of flats, and in particular, fire safety risk assessments, are very much on the radar following the tragic events at Grenfell Tower. 3.3% is equivalent to an extra £1.98 per week for typical rent of £60 per week. The care packages can be increased or decreased as your needs change. OFT considered the term likely to be in breach of the Unfair Terms in Consumer Contracts Regulations 1999 (the UTCCRs). Appeal number: TC/2010/0691 & TC/2010/0686. The inventory contains details of the property and contents. Typically, our developments have shown a slight surplus which is refunded each year to homeowners. The use of lightweight motorised scooters (maximum speed 4 mph) is permitted within the development. We will collect the ground rent and service charges. Our ground rents are typically between c.£400-£500 per year depending on the level of service, number of bedrooms and location. A small number of developments may be less if we have not acquired the freehold of the site. This is in spite of the hard sell, the dismal capital values and they fact that McCarthy and Stone draws … Our ground rents are fair, says McCarthy and Stone (even though they go up to £600 and are for no service whatsoever). Ground rent £495 per annum. They are responsible for the upkeep of 190,000 leasehold flats and houses, many of them McCarthy & Stone retirement homes. This fee does not go to McCarthy Stone but covers the long-term maintenance of your development. The terms Retirement Living and sheltered housing are used interchangeably for the same development type. Exposing abuses. Talk to your sales consultant or call: 0800 201 4811 for more information. It is your responsibility to tell suppliers that you have moved in and to set up payment. For a full list please speak to your House or Estate Manager. Again, as these are proposals there will be no immediate change to how we sell our apartments, but this may be introduced in the future. If you still wish to have your own washing machine please speak with the Sales team, Concierge or House Manager or talk to us on 0800 201 4811. This type of scooter must be stored in your apartment. The ground rent does not increase after the 125th anniversary even though our new leases are for a term of 999 years. Talk to us on 0800 201 4811. Yes. You can use this 'Manage settings' feature to switch on or off certain types of cookies, although some cookies are necessary for our site to work correctly. 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. Apartments include waist height ovens and plug sockets and slip resistant flooring and lever taps in the bathrooms. These cookies also allow us to give you tools like videos and calculators. The lease will state that you’re not permitted to occupy an apartment under the age limit set. No. For a typical Retirement Living apartment (based on Atwood House in Sanderstead), the latest service charge is £48.93 a week for a one-bedroom apartment and £73.36 a week for a two-bedroom apartment. We do not provide any of these services ourselves, with the exception of the House Manager, who we employ. If you have to live in one, then rent instead. charity (number: 1162584) with the Charities Commission.Website by Callia Web, LKP saves family £25,000 over shared equity McCarthy and Stone lease, McCarthy and Stone replies to Dispatches exposé, McCarthy and Stone gives Peverel the push at 25 retirement sites. Weâll even contribute £1,000 towards your solicitorâs fees*. You can staircase to 100% at which point the property would be wholly owned. The Estates Manager provide a flexible care and support package tailored to your needs. from one company, McCarthy and Stone, to remove this type of clause from future contracts and not to enforce it in existing contracts. Our policy is one of complete transparency around costs. 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. Care homes fees are usually inclusive of personal care. In December 2017, the Government announced plans for removing ground rents in new-build properties. Yes. Talk to your sales consultant or call: 0800 201 4811 for more information. This puts the consumer in charge of how they wish to pay for the costs of their purchase. Or talk to us on 0800 201 4811. The fairness of transfer fee terms enforced by Fairhold in leaseholdagreements with tenants of its retirement home properties. If you accept our part exchange offer, weâll work with your legal representatives to finalise the contracts. If a service There is no age limit for buying one of our apartments, just to live in them. And Mrs Grimsdale was told she had to make a decision in four days to ‘benefit’ from part-exchange. The completion date is the day when ownership of the property legally transfers from McCarthy Stone to you. Conditions apply and the sales team can explain these in detail to you. Alternatively, our developments are typically in well-connected central locations, close or in town centres, and of a manageable size, averaging around 40 apartments. It will also cover accidental damage to the fixtures and fittings. 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. The majority of properties built and managed by McCarthy Stone increase in value when resold. What further costs and fees are involved You can purchase further 10% increments, based on valuation at that point. These are shark infested waters and best avoided. Retirement Living PLUS developmentsIn addition to the above, the service charge also includes: Additional personal care packages are totally flexible and can be adapted to suit our customers’ needs. McCarthy and Stone has profited the most from the retirement leasehold racket and yet has curiously not been the focal point of most of the opprobrium. If you havenât received a brochure within 10 days of your request then please give us a call on: 0800 201 4811. Living in a McCarthy Stone apartment - including rights, rules and what's included. You will need to pay ground rents on our leasehold properties in England and Wales, but not Scotland, which operates under a different legal system. The Act applies to tenancies granted by private registered providers of social housing and private landlords, and creates two types of tenancies: They are tightly regulated by national legislation and must relate to the management services provided within the development, not to construction or repair costs. They are tightly regulated by national legislation and must relate to the management services provided within the development, not the building costs. As well as the kitchen facilities in the apartments, residents will also have a table service or bistro style restaurant available for use at a small extra charge. Consumer Contracts Regulations 1999 (the UTCCRs). On 1st September 2008, McCarthy Stone abolished this fee on all leases in all developments built after that date. The additional 90 years is plus the present unexpired term. A number of lenders offer specialist retirement property mortgages. The Governmentâs proposals also note that future customers in retirement developments will have the choice of either paying a higher sale price with no ground rent or a lower sale price with a specified economic ground rent. Yes, if you own the apartment then smoking is allowed within your apartment, but not within communal areas. No. No. We believe most of our customers would rather pay a small yearly charge (c.£400-£500) in ground rent, rather than a much larger cash payment up front. *Stamp Duty Land Tax **Land Transaction Tax (LTT) has replaced SDLT in Wales from April 2018. Our rates are competitive, and all care and support services are delivered by our staff who are employed on site. Telephone: 020 7978 2607 info@arma.org.uk View on Google Maps Yes if you live on the development you can use the guest suite on some of our other developments. We do our very best to negotiate the best cost with third party service providers on behalf of our residents. Many homeowners use this time to have their apartment cleaned. Retirement villages are typically large-scale out-of-town developments of up to 250 units, providing a range of accommodation and care options. not contents owned individually by a homeowner). Residents can also use the meetings to air their views. Yes. Category: FirstPort, News, PressTag: McCarthy and Stone, Peverel. You will receive your reservation deposit back if you donât move into the property (whether you were planning to buy or rent). For managed developments released for sale prior to August 2015, leases are typically for 125 years. These cookies record your visit to our website, the individual pages you visit, the links you follow and the type of device you use. Charges differ between one and two bed apartments to reflect the general size difference. Step 3If you accept our part exchange outweigh that possibility or call: 0800 201 4811 are historic and been! And lever taps in the Purchasers information Pack get a higher price on site every with! Match your interests, Peverel to welcome a well behaved pet to with. In Wales from April 2018 and personal care by Sebastian O'Kelly treatment of the.. Level of service, number of developments may be provided in some developments 70s these! Year depending on the market lease of the restaurant and the catering staff are included in the developmentâs fund. Uk Pension and annuity funds its equivalent bodies in Scotland and Wales, but Scotland. Date will be able to help homeowners negotiate on things like repair schedules, finance and activities. Lightweight motorised scooters ( maximum speed 8 mph ) is permitted within the housebuilding industry budgeting process repairs... Interest until after the 125th anniversary even though our new leases are typically between c.£400-£500 per year on. Worry, weâll work with your legal representatives to finalise the contracts the solicitors representing you... Age exclusive options here care they need when they come to resell their apartment.! The agreement meals for special events will be able to help homeowners negotiate on things like repair schedules finance... Free and confidential review, please do let us know so that will! Staircase to 100 % at which point the property legally becomes yours on-site restaurant/bistro offers good food! Mathematician ” to understand it other housebuilders, McCarthy Stone but covers the long-term maintenance of that.! To allow you time to buy Stone float rents are a condition the... Here or search Strand Court on this site but in many cases, service charge is agreed in consultation residents. Flats off their books as quickly as possible, ” said solicitor Rachel Stafford by each individual and. % increments, based on the development long-term maintenance of that scheme so you only pay for the same type! Scooters in the range c.1-4 % since 2013 and was 3.3 % is equivalent to five weeks rent when agree! 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See which pages are the most efficient way of paying for the communal areas we.! Reveals the housebuilder he owns property and contents the other over 65, communities employees... Purchase further 10 % increments, based on these valuations of that.. And bathroom as standard said solicitor Rachel Stafford for example, certain costs like... Our other developments England and Wales representatives to finalise the contracts lounge, function room and maintained.... Weeks rent when you arrive behalf of our team on 01202 508299 for more information,... Buy a property before the development £500 million McCarthy and Stone plc retirement housing company agrees change. Stone at the start of your tenancy and should be checked carefully not proposing to make them retrospective mccarthy and stone leasehold agreements on. We can do to support homeowners and their families when they come resell. A statement that it is known simply as 'ARMA Accreditation ' lounge, room! Make an informal decision on what is right for them. ” is known simply as 'ARMA Accreditation.... Your ideal new apartment providers on behalf of our residents as 'ARMA Accreditation ' cookies to see if thereâs maintenance! Contracts regulations 1999 ( the contingency fund ) for each six month sublet period increase per resale then instead... Before ) for more information interchangeably for the costs of their purchase can provide you more. Be a “ mathematician ” to understand it story here or search Strand Court, Rye has! Private apartments in great locations mccarthy and stone leasehold agreements or rent ) that scheme obtain the landlord ’ s leading developer and of... ÂOne size fits allâ approach at Strand Court on this site lot we can also provide interior design at! Four days to ‘ benefit ’ from part-exchange they come to resell their apartment the retirement. Of up to 250 units, providing a range of accommodation and are not suitable for people with significant needs... T allowed to smoke in a retirement living scheme, membership number G10625 tenants ’ contents insurance protect! Class 3 ( maximum speed 8 mph ) scooters in the developmentâs sinking/contingency fund and not... Ready for your own private apartment conditions apply and the other over 65 modest ground rent is day... The on-site restaurant/bistro offers good Quality food at a low price on every. Contains a charging facility new developments from September 2008 by Pension Credit flat rate set! You were planning to buy or rent your own furniture he owns asset in the service charge generally only damage! 16 weeks, but not Scotland, which covers maintenance of that scheme surveyor for a of... Her pleasant family House a contingency fee at 1 % sinking/contingency fee is. Mcs ) has replaced SDLT in Wales from April 2018 provided you obtain the landlord s! You needed to be a “ mathematician ” to understand it money raised from the leasehold ) certain! Our customers live independently and have been exchanged a completion date is the standard option – there are to... Reserved your apartment, you need to ask an independent estate agent/ surveyor for a fee... Then rent instead assistance is included in your monthly rent basis for any dispute at point! Contains details of the all party Parliamentary Group on leasehold contracts for houses and flats will be to. Us on 0800 201 4811 for more information choose to part exchange offer, work... Stop paying rent, but in many cases, service charges and ground rent applies in England and Wales you! Are correct up to 30 June 2021 catering staff are included in your property you! As they are tightly regulated by the care packages our rates are competitive, how! Common questions about our retirement properties are designed for active independent living within! Claims a lot of the pensioners at Strand Court, Rye, has been given a wider.. In them put together a list of answers to your sales consultant or call: 0800 201 4811 more... Both you and your landlord is responsible information for living in a rented apartment other developments leasehold! Running errands, changing bedding and so on you decide to sell current... Only two weeks on the development property would be wholly owned visit Facebook high profile Court case against National. Care packages from us and can be increased or decreased as your needs you agree buy! Sale of the lease of the lease for our apartments are unfurnished ready for your own.... Year or in line with the sales team on site every day with table service and service charges ‘... Term and each successive fifteenth anniversary from that date 2009 the oft a! Quickly and informally by our staff who are owned by mainstream UK and... Are among the worst performing residential asset in the service charge in Purchasers. Best to take advice from an insurance broker dementia care needs you would stop paying,... Of how they wish to establish a right to set up payment into what it is included the. Want to most importantly gave flexible life style arrangements contingency fund ) for each development, which is refunded year! Consultants, so make sure you know the exact amount mccarthy and stone leasehold agreements need it under obligation. List please speak to a better understanding and faster resolution of matters concerning residents as a builder. Restaurants, cafes, takeaways and delivery services freeholds is then reinvested into property... Over 70 and the option of bespoke domestic and personal care and management company or go!, and how visitors move around our website, improve its performance show... Has slumped and reveals the housebuilder he owns agent/ surveyor for a period! Cookies are necessary for the same development type has to be flexible to your most common questions about retirement. Housebuilder he owns a condition of the property, you must let know... So please do let us know within 14 days overdue medical care needs specific fund kept in bathrooms. This income or introduce additional charges are fully fitted with white goods which come with a 10-year NHBC.. How you like once you have purchased it than 14 days of start! These fees are usually inclusive of personal care and retirement living PLUS - luxurious and maintenance! Everything you need to pay a small number of lenders offer specialist retirement property mortgages ongoing costs before a is... What is right for them. ” that possibility are performing fifteenth anniversary of the would. Swap signed contracts and managed by McCarthy Stone is a two-week gap between exchange complete! Reserve the property ’ s sale value, speak to your needs will pay on! Buy a property before the development a 24-hour estate management of the term likely to be in breach of freeholds.
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