McCarthy and Stone has made a “goodwill” payment of £40,000 to Oak Court in Manchester which lacked fire compartmentation in the roof. But a leaseholder at the site, which featured in BBC TV’s Rip-Off Britain last year, withdrew a submitted article to LKP addressing the issue after receiving a phone call from the company’s senior […]
McCarthy and Stone makes ‘goodwill’ payment of £40,000 to Oak Court, but leaseholder drops article for LKP after phone call from the company’s lawyer
The Times says families ‘lost £3 billion’ on resales of leasehold retirement flats, while developers and freehold speculators made millions
The Times today suggests that families have lost £3 billion on the resale of leasehold retirement flats between 2001 and 2015 in a series of articles that add up to a devastating investigation of the sector. Some 80 per cent of the properties sold had fallen in value, with an average loss of £38,846, the […]
Ground rents are essential to McCarthy and Stone’s business model
… but leaseholders are concerned it is selling freeholds to anonymous buyers … McCarthy and Stone complains about ‘right to reply’ to LKP / Better Retirement Housing articles McCarthy and Stone told The Times yesterday that there would be fewer of its form of retirement flats if the government reduces ground rents to a minimal […]
Ex-Peverel employee thwarted over right to manage for Tatton Court and Willow Court
UPDATE August 12 Yesterday evening Susan Earnshaw returned Campaign against retirement leasehold exploitation’s phone call and we discussed the issues of Tatton Court and Willow Court and the services provided by her company. We publish her full response below, but make a number of points: 1/ We tried but were unable to contact Mrs Earnshaw […]
Warner Court, in Berkshire, breaks free of Tchenguiz and FirstPort with right to manage
Another day, another retirement site – Warner Court – decides to break free of the Vincent Tchenguiz organisation and FirstPort to appoint its own management through right to manage. The RTM at Warner Court, in Sandhurst, Berkshire, takes over on September 15, which means another retirement site will almost certainly slip from FirstPort’s grasp. The […]
ARMA regulator to rule on whether to admit FirstPort Retirement ‘within days’
After more than three months of deliberation, the Rt Hon Keith Hill, regulator of the Association of Residential Managing Agents, is poised to make a decision on whether Peverel / FirstPort Retirement is a fit and proper candidate to join the association. Alex Ellison, and others, made a series of complaints concerning Peverel / FirstPort […]
Tatton Court latest Cheshire site seeking to dump Tchenguiz / FirstPort
Tatton Court is the latest Cheshire retirement site wanting to be rid of the FirstPort / Tchenguiz management which dominates private retirement housing. “We feel that you are being deliberately awkward in blocking our claim,” the RTM directors write to Estates and Management, the Tchenguiz company that manages his freehold portfolio. “We also feel that […]
Regulator to rule on whether scandal-hit Peverel / FirstPort Retirement is fit to be a member of ARMA
FirstPort Retirement, formerly Peverel, should not be admitted to ARMA because it has an unaccounted-for portfolio of house managers’ flats and has a track record of misleading residents when trying to sell them. These were the arguments put on Monday to Keith Hill, a former New Labour housing minister, who is the regulator of ARMA […]
Tchenguiz’s £2.2bn compo claim ‘liberally interspersed with assertions of fraud, falsity, dishonesty and improper motive’, says judge
(Sounds like an email to Campaign against retirement leasehold exploitation from an aggrieved leaseholder …) Vincent Tchenguiz’s £2.2 billion legal action against accountants Grant Thornton has suffered a set-back as his documentation was described by a judge as “too long and failed to make clear the facts of the case”. Tchenguiz wants compo from Grant […]
Tchenguiz’s PR company New Century Media detonates Bottomley during Queen’s Speech debate
Tchenguiz PR man named in Commons ‘Apology’ by obscure website to Vincent Tchenguiz read to MPs Sir Peter asks what was Tchenguiz’s role during the Peverel / Cirrus price fixing scandal? Tchenguiz freehold valuations questioned Why are huge loans issued against valuations ‘created from thin air’? Government should put pressure on professional standards bodies to […]
Tchenguiz leasehold interests raised in Commons
The Tchenguiz activities in leasehold property were highlighted in the House of Commons yesterday by Sir Peter Bottomley. In a brief aside during debate over the private rented sector, Sir Peter referred to “the Tchenguiz interests featuring in the Office of Fair Trading report on abuses of leaseholders, overvaluations of freeholds and the sale of […]