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FAQs - Buying a retirement property
Thinking about buying a retirement property? Learn more about the buying process and what to expect when purchasing a McCarthy & Stone home.
Yes. Information on the Right to Manage is given to every homeowner in the Purchasers Information Pack when they move into a McCarthy & Stone retirement home. It explains residents’ rights, including the right to set up their own management company or to go to a third-party provider. We offer to pay reasonable legal costs to homeowners who wish to establish a Right to Manage company. There are websites offering advice to homeowners wanting to exercise this right. So far, none of our homeowners have done so and we continue to provide services on their behalf.
To find out more, talk to our friendly team on 0800 201 4811 or contact us online.
Our Smooth Move service is our way of making the move to your new retirement property much easier.
Our Smooth Move package includes:
- Up to £2,500 towards estate agent fees* when you sell your existing property through our recommended estate agents.
- Up to £1,000 towards legal fees* when you use one of our recommended independent solicitors.
- Free specialist removals* to help you pack, transport, and unpack your possessions into your new retirement home.
- Access to handyperson services to help you put up shelves, hang pictures and more.
To find out more, speak to our team about McCarthy & Stone’s Smooth Move removals service on 0800 201 4811 or contact us online.
*T&Cs apply. Read the full T&Cs.
Once contracts have been exchanged a completion date will be confirmed by your solicitor and/or one of our sales consultants. The completion date is the day the retirement property legally becomes yours. Usually there is a two-week gap between exchange and completion to allow you time to prepare and book removal services. It is also possible to exchange and complete on the same day if you want to.
Usually people take between 12 to 16 weeks to complete the purchase of their new retirement home, but we will try to be as flexible as possible to suit your individual circumstances.
When you buy a new retirement home, like most property purchases, you should plan for some one-off costs, including:
- A reservation deposit (which is deducted from your final purchase)
- Solicitor fees
- Stamp Duty Land Tax (SDLT) (in England )
- Estate Agent fees if selling a property
- Removal services
Ask the McCarthy & Stone team about our free Smooth Move package which includes:
- FREE specialist removals
- £2,500 towards estate agent fees
- £1,000 towards legal fees
To find out more call 0800 201 4811 or get in touch online.
Yes. A number of lenders offer specialist retirement property mortgages. Talk to your sales consultant, contact us online or call 0800 201 4811 for advice.
Our retirement bungalows and cottages are sold on a freehold basis, as they are standalone homes. To find out more, speak to our friendly team on 0800 201 4811 or contact us online.
The completion date is the day when ownership of the retirement home legally transfers from McCarthy & Stone to you. There is often a two-week gap between the exchange date and the completion to allow you time to prepare. However, it is possible to make the handover that day should you choose to do so.
Talk to your sales consultant, contact us online or call 0800 201 4811 for more information about the moving process.
Yes. You can rent out the apartment provided your tenant(s) meet the criteria for occupiers set out in the lease. We need advance notice of the proposed rental agreement, and we ask for a reasonable contingency fee to be paid into an account held on trust for repairs to the property. Talk to your sales consultant, contact us online or call 0800 201 4811 for more information.
The majority of McCarthy & Stone retirement properties increase in value when resold. The resales team has a unique understanding of retirement living, enabling us to communicate all the benefits clearly, and a waiting list of customers for some retirement developments.
We’re continuing to improve our retirement housing to ensure properties retain their value.
This includes:
- Expanding upon and improving internal space with things like ensuites, walk-in wardrobes, level-access showers, ergonomic design, hidden care, walk out balconies and more.
- Setting up in-house management services teams dedicated to high standards for customers.
- Removing exit fees* and introducing 999-year leases.
Much more than a financial investment
It’s also important to remember that our retirement homes are not simply a financial investment, they are an investment in the quality of life for our customers and their families. Our customers are buying into a lifestyle based around security, comfort, friendship, ease of maintenance, support on hand, community, safety and well-being.
To learn more about our resales service, speak to a member of our resales team on 0345 556 4104 or email resales@mccarthyandstone.co.uk.
*A 1% contribution of the resale price still applies upon resale. This goes into the sinking fund (the contingency fund) for each development, which covers maintenance. There is also a small admin fee to cover the costs of checking that the incoming occupier meets the terms of the deed of conditions. Please contact our Property Transfer team on 01202 508299 for more details.