But a cash loss from purchase of only £5,000 is not THAT bad, in UK retirement housing … By Sebastian O’Kelly Yet again retirement housing is in the news: this time Retirement Villages charging £50,000 in exit fees to a family who sold a two-bedroom flat at Mayford Grange, in Woking in Surrey. The Sunday […]
ARCO conference offers a different vision to retirement housing, but …
July 7, 2018 By
There will be – and there are already – issues with big event fees The conference of the Association Retirement Community Operators in central London last week offered a fascinating alternative vision for the retirement housing sector to the one that we have. The organisation represents providers who build and manage their own sites, as […]
Exit fees: You have less than 30 days to provide your input
December 30, 2015 By
Campaign against retirement leasehold exploitation has published a number of articles about the Law Commission’s work on “exit”/transfer fees, and which sort of charges should be allowed going forward. The end of the public consultation is January 29. One of the problems faced by the project is that while those working in the retirement sector […]
Important AgeUK event – exit fees
October 27, 2015 By
On 19th November AgeUK is holding an event for “older leaseholders” on exit/transfer fees as part of the Law Commissions review of these type of charges. The Law Commission project is just entering the public phase having reached their preliminary findings. The project will end some time next year when they present their formal recommendations […]
Law Commission investigates retirement transfer fees
February 10, 2015 By
The Law Commission is reporting its work into the issue of retirement leasehold exit fee here Anyone who has paid these fees, can contact the Law Commission on this email address: transfer_fees@lawcommission.gsi.gov.uk Following a considerable amount of activity by Campaign against retirement leasehold exploitation, the issue of exit and subletting fees was taken up by […]
‘Curtains for exit and sublet fees’ by Law Commission … but not until March 2017
September 24, 2014 By
Leasehold exit and sublet fees have been referred to the Law Commission, which will almost certainly be the end of them. This means anyone selling or renting out a retirement or non-retirement flat should keep all documentation with a view to making a claim in two and half years time.
DCLG leasehold team issue raft of improvements
August 13, 2014 By
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 residential leasehold sector is far larger than was previously thought. They […]
Office of Fair Trading deal over exit and sub-letting fees with Tchenguiz
October 6, 2013 By
OFT website outlining the agreement is here http://www.oft.gov.uk/news-and-updates/press/2012/77-12 August 2012: The Office of Fair Trading (OFT) has secured undertakings from Fairhold Homes Ltd and associated companies (Fairhold) owned by the Tchenguiz Family Trust to change how they charge and enforce transfer fee terms in their 53,000 retirement home leases. The OFT has been investigating exit fees, […]
End transfer fees, or let LVTs rule on whether they are reasonable, says OFT
February 1, 2013 By
Parliament should end the levying of transfer fees – that is, exit fees and sub-letting fees – or allow the Leasehold Valuation Tribunals to rule on their reasonableness, This is one of the key findings in the Office of Fair Trading’s prolonged investigation – published today – into a lucrative and unjustifiable earner that is […]
Court case over Fairhold £1,150 exit fees
December 30, 2012 By
A courtroom battle over £1,150 paid in exit fees takes place on January 2, which may prove good news for the Bumblebee Conservation Trust & Buglife which will be getting the money if the action is successful. Susan Wood is demanding back the 1 per cent exit fee paid to Fairhold, a freehold owning company […]
Exit fees: what to do after the OFT/Tchenguiz deal
October 1, 2012 By
OFT website outlining the agreement is here http://www.oft.gov.uk/news-and-updates/press/2012/77-12 After a three-year investigation, the Office of Fair Trading finally expressed its view earlier this month that exit fees on sale were “likely” to be unfair … but that they still need to be paid. The announcement came in the form of a deal with the Tchenguiz […]
Campaign against retirement leasehold exploitation activist told OFT exit fee deal with Tchenguiz also includes Proxima
September 14, 2012 By
OFT website outlining the agreement is here http://www.oft.gov.uk/news-and-updates/press/2012/77-12 Campaign against retirement leasehold exploitation’s concerns that the Office of Fair Trading’s deal with the Tchenguiz Family Trust over exit and sub-letting fees would be restricted to Fairhold, as indicated on the OFT’s press release of September 6 (see below) appear to be unfounded. Campaign against retirement leasehold […]
