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Original poster

Bastard retirement village payments

214 replies

Makemineamediumone · 13/07/2021 21:13

Can't sell it as no-one wants it. Can't rent it as not allowed. Not using it as live elsewhere. Still have to pay the bastarding service charge EVEN THOUGH THE HOUSE WAS INHERITED and watching the equity slip away. Fucking bastarding money grabbing bastards.

OP posts:
Original poster
Makemineamediumone · 15/07/2021 06:34

It was through the solicitors company the will was with. There wasn't anything else to shsre out after the funeral was paid for.

OP posts:
RickiTarr · 15/07/2021 06:36

How on earth can that happen?

It’s an own goal to tie up probate before offloading the flat.

@Normaigai has a good point. What legal advice did you receive about the probate?

Original poster
Makemineamediumone · 15/07/2021 06:36

@barbaraofseville I really don't know. Part of me really wants to make sure I go and use something there every bloody day.

OP posts:
RickiTarr · 15/07/2021 06:37

@Makemineamediumone

It was through the solicitors company the will was with. There wasn't anything else to shsre out after the funeral was paid for.
I wouldn’t be very happy if it were me and they hadn’t warned me of the looming service charge elephant trap.
Original poster
Makemineamediumone · 15/07/2021 06:48

Tbh, I don't really remember much about it - I was a wreck at the time so it could be my fault. It just doesn't ssen right.

OP posts:
RickiTarr · 15/07/2021 06:51

I don’t think “fault” is the right word. It’s seems a complete scam, that probably depends on bereaved people being all over the place. Awful.

Have you got legal cover on any insurance policy?

TedGlenn · 15/07/2021 06:51

So sorry for those who have been caught out but this thread has been very useful. I will shout out to all my friends: Do Not Accept A Retirement Flat In A Will. Either delay disbursement of the estate until it's sold, or if other beneficiaries will not allow that, reject the gift.

And don't be a guarantor!

StiggyZardust · 15/07/2021 06:52

I'm in exactly the same situation. I find paying the council tax the most irritating thing. We got the 6 months without paying after probate was granted but we're back paying it again.
We're just changed estate agents as we didn't get a single offer in 18 months.
It's shit isn't it.

RickiTarr · 15/07/2021 06:56

[quote Makemineamediumone]@rickiTarr your last line sounded a bit snarky there. I'm not sure if you meant it to be - my point is that I've gone from having disposable income to having none because of this. Something I haven't agreed to but been lumbered with. I'm going to have to start looking at the legalities but I'm not optimistic. It's just feels so bastarding unfair.[/quote]
Sorry missed this.

No not at all meant as snarky.

It is ridiculous that you are skipping small treats out because of this. You should have your disposable income to spend as you see fit. Really scummy business model. I’m quite annoyed for you. They’ve lured you into a contract by the back door almost.

HuntingoftheSnark · 15/07/2021 06:56

Gosh, this sounds terrible. I've no experience but when my father died three years ago, I looked round a McCarthy & Stone place with my mother as she wanted to see what her options were. I recall the service charges being high, and the flats very expensive and relatively small. My mother decided not to go ahead, is 91 next month and has adapted really well living alone, thankfully. M&S sent us almost weekly information for ages until I stopped them. I had no idea the service charges haunted as described.

RuthTopp · 15/07/2021 07:09

In Keswick ( Lake District ) about 5+ years ago a complex was built for the over 55s. To buy one you had to be living in the area , or working in Keswick.
I knew someone who got herself a part time job from her friend who owned a shop there so that she and her husband could buy one.
They took a long time to sell and I'm sure a few are still unoccupied . The local council even did a deal with the builder and they temporarily housed under 55s for crisis housing.
So the ' exclusive ' I'm going to be so lucky to live there shiny brochure , didn't really live up to the hype.

Original poster
Makemineamediumone · 15/07/2021 07:10

Thanks @RickiTarr.
And a good point about legal cover. I might have it with my contents insurance.
As for the relentless mailings, you're right. It makes me rage when they advertise that they cant rent them out but you can't.

OP posts:
Original poster
Makemineamediumone · 15/07/2021 07:12

@RuthToppSadAngry

OP posts:
HeavenHotel · 15/07/2021 07:14

@titchy and others. Assume you are solicitors?

May I just thank you for your advice on here. I hope it cleared up some misunderstandings for posters if they are ever in the same position.

And to never ever be a guarantor!!! Although must say sounds unusual, have looked at many of these homes for my MIL and never asked for a guarantor.

Anyway after reading this thread will probably go down the bungalow route with daily support visits.!!

DobbyTheHouseElk · 15/07/2021 07:27

This is an incredible informative thread. Very glad I’ve read this. What scamming bastards they are. Our town is full of McCarthy and Stone developments popping up everywhere. It’s a money making racket.

The BBC should do an investigation report documentary into this. I had no idea.

My Aunt moved to a retirement village years ago. Bloody hideous place. We all warned it it was a rip off, massively over priced. She had a detached house in a gated community sort of place with grounds and swimming pool etc. I don’t know what happened with the sale of the house, but it took a while to sell.

Mandalay246 · 15/07/2021 07:28

What a stupid post. How is it the family's fault if a parent or grandparent 'buy' one of these properties? My GF and FIL, for example, we're/are bloody-minded buggers and wouldn't have the wherewithal to consider the consequences. They certain wouldn't be running the contract by their families.

So none of you have these discussions with your families when they "buy" one of these properties? I find that mind boggling tbh - and consider that far more stupid than my post!

1starwars2 · 15/07/2021 07:35

I am doing some googling as likely to have to deal with the sales for 2 of these properties in the next decade.
This is interesting
www.betterretirementhousing.com/dire-retirement-housing-values-revealed-land-registry/
I think buying pre 2008 is the biggest issue.

askingforafriend53 · 15/07/2021 08:59

I am following this with interest. My children (early 20's) are sole beneficiaries under family member's will - which comprises one of these properties. Not McCarthy Stone, but another retirement village, in Lancashire. Those properties presently on sale are for far less than family member paid. You have to be over 55 to live there. I will be executrix of the estate in due course. Can my children actually inherit a property they cannot actually move into? What will happen to the maintenance charges and ground rent then? They certainly won't be able to afford same (£8k a year). It's very worrying. Previously I have considered renting the property out so they'd gain an income of sorts, but have dismissed that as not worth the hassle. Now I'm thinking of varying the Will and leaving the property to a Charity which could perhaps use it to provide respite care, for example?

askingforafriend53 · 15/07/2021 09:01

Sorry, should have made it clearer, realistically, children will be mid to late 20's when they inherit.

titchy · 15/07/2021 09:32

Now I'm thinking of varying the Will and leaving the property to a Charity which could perhaps use it to provide respite care, for example?

That's a good idea. (Obvs assuming the person changes their own will, not you personally deciding.)

Also your children could poss do deeds of variation when the person passes away to leave to a charity?

Or is there anyone they really really hate (school bully) that they could leave the flat to? Grin

MrsWobble3 · 15/07/2021 10:14

You might want to research the charity idea before changing your will. Some charities can be quite aggressive about requiring cash to cover ongoing liabilities when accepting donations and the last thing you need when grieving is that sort of hassle.

I think you need to think about a retirement flat as an alternative to care home fees not as a property investment. So that any return of capital is a bonus. Still doesn’t help if there are no buyers though.

Normaigai · 15/07/2021 10:45

@Mandalay246

What a stupid post. How is it the family's fault if a parent or grandparent 'buy' one of these properties? My GF and FIL, for example, we're/are bloody-minded buggers and wouldn't have the wherewithal to consider the consequences. They certain wouldn't be running the contract by their families.

So none of you have these discussions with your families when they "buy" one of these properties? I find that mind boggling tbh - and consider that far more stupid than my post!

My mum would always discuss a house purchase with me. Not because I get a day bit because she values my opinion. She then often goes on to ignore me 🤣 She also discusses where her money is going after she dies (at length and I tell her to give it to the cats home if she wants). If she suggested buying one of these properties I wouldn't stop her but would explain the situation so she was aware. I don't get to stop her but equally I know she wants to leave an inheritance and it would matter to her if she was essentially throwing her money away. I'd strongly encourage her to do what is best for her of course.
Normaigai · 15/07/2021 10:45

*say but

Normaigai · 15/07/2021 10:50

@Makemineamediumone

Tbh, I don't really remember much about it - I was a wreck at the time so it could be my fault. It just doesn't ssen right.
It's possible you were warned on page 101 of a document you signed. A decent lawyer would have made sure you understood what you were signing but that doesn't always happen and if you signed it's hard to prove you didn't know. Plus, as I said, they may not have been obligated to tell you. I think it's worth checking out though.

Personally I'd reduce the price even more. Your mother wouldn't want you to be suffering because of this. If you go low enough someone will want it.

Alternative is to get it valued and see if you can raise a mortgage against it to buy you some breathing space, but that's riskier and likely to be hard if it's doesn't have an income coming in.

SciFiScream · 15/07/2021 10:55

OP how old are you? Old enough to move in? (I can't remember from thread sorry). Is it in a good location?

Could you move in and then rent your home out to cover as many costs as possible?

What other creative but appropriate options are there? There must be a way to play the game and get a good result (maybe not win, but perhaps draw, or not lose quite so badly)

Why don't you identify as old enough? Even if you aren't? Join the trans age movement!!! (There is one)