Can I let my McCarthy and stone flat?

Can I let my McCarthy and stone flat?

Can I rent a property? Yes! Most McCarthy Stone developments offer properties with the option to buy or rent (or Part buy, part rent if you like) and you’ll be protected by an assured tenancy, which means we can’t ask you to leave unless you break the rules.

Are McCarthy and stone properties freehold?

When McCarthy & Stone built the development, it sold the flats as leasehold and retained the freehold. But shortly after it sold the freehold to a company called Fairhold, a British Virgin Islands-based group, which collects the ground rent.

Does McCarthy and stone charge exit fees?

McCarthy Stone is proud to be one of the few retirement companies not to charge exit fees, having removed them in new schemes in 2009. We do not charge exit fees that come back to the developer as profit. We charge a 1% sinking fund contribution (known as the contingency fee), which is paid on resale.

Are retirement apartments difficult to sell?

“Retirement homes have always been hard to sell, but in the last year, they have been particularly difficult, if not impossible,” says one agent in Greater London. This makes sales all the more difficult and slow.”

Who owns McCarthy and stone?

Lone Star Funds
McCarthy & Stone/Parent organizations

Is McCarthy and stone a housing association?

In October 2020, McCarthy & Stone announced that it had signed a partnership with housing association Anchor Hanover, England’s largest specialist provider of housing and care. In the units to be created through the partnership, McCarthy & Stone will exclusively provide outright purchase and private rental.

Do retirement homes go up in value?

According to the research, 51% of retirement properties built and sold between 2000 and 2010, and then sold again between 2006 and 2016, suffered a loss in value. For those properties which declined in value, the average loss was 17%. For some, the falls are much steeper.

Who owns McCarthy & Stone?

Can you sub let a retirement property?

Most retirement properties will limit the category of persons that you can sublet it to e.g. you can only sublet to over 55’s. Some leases may require you to get the landlord’s consent before subletting and your landlord may require you to pay a consent fee.

Do retirement properties increase in value?

Retirement living costs remain stable While house prices have increased by 13% and units by 6.57% since the worst of COVID-19, retirement living properties have generally remained stable. In fact, they typically don’t keep pace with residential properties and are usually priced 20% below the local median house price.

What age can you buy retirement home?

Many retirement properties come with an age restriction for residents – usually the lower limit varies between 55 and 60 years old. Whilst this suits many, and is often part of the attraction, it can prove restrictive if, in the future a child or grandchild might want to move in.

Who owns McCarthy?

Mike McCarthy sells his majority interest in the company to McCarthy employees, making the company 100 percent employee owned.