Peterborough

Many of our homeowners are pleased to find that the service charges for their apartment tend to work out at less than what they were paying in like-for-like costs at their previous property.

Energy bills often turn out to be lower thanks to the modern construction methods we use at all our developments. Your new apartment is also likely to be a more manageable size and so cheaper to run.

When Customers discuss the purchase of a McCarthy Stone apartment with us, they receive a service charge leaflet and our Sales Executive sits down with them to help them fill in the costs, review what is covered in the management services and compare them to day-to-day running costs in their current home.  Our Sales Executive ensures that they have a detailed knowledge of ongoing costs before a sale is completed

Usually this can take between 12 to 16 weeks. We understand that some customers may have a time period that will more suitable for them and we aim to be as flexible as we can.

Yes. If you want a quick, simple way to sell your home and move into one of our retirement properties, then Part Exchange could be the answer. For more information please click here.

A flexible, affordable alternative to outright purchase, with all the benefits of ownership. For more information call:  0800 201 4811

How it works
You purchase a minimum 50% share in a brand new McCarthy Stone retirement property and pay rent on the part you don’t own. 

Benefits include:
It’s an affordable approach to owning a stunning new retirement home

• You may be able to access cash tied up in your existing property (known as ‘equity release’)
• You can choose to buy a bigger percentage of the property in the future – this reduces the rent you pay
• If you want, we can buy your existing property as a part exchange
• You’ll be eligible for our free Smooth Move removal service, plus a contribution to legal and estate agent fees

Terms and conditions apply

No. This offer is available at selected McCarthy Stone developments, so make sure you check with the sales team on site.

70% is the standard option – there are options to increase this over time, known as staircasing.

What further costs and fees are involved You can purchase further 10% increments, based on valuation at that point. You can staircase to 100% at which point the property would be wholly owned. You would stop paying rent, but service charges continue to be payable to McCarthy Stone.

Each time you staircase you need to plan for additional costs such as valuation fee, legal expenses, SDLT*/LTT** if applicable.

*Stamp Duty Land Tax  **Land Transaction Tax (LTT) has replaced SDLT in Wales from April 2018

You will need to pay SDLT*/LTT** on a private shared ownership property, but you may have less to pay than if you had purchased outright. You should seek advice from your solicitor to confirm how much SDLT you have to pay.

*Stamp Duty Land Tax  **Land Transaction Tax (LTT) has replaced SDLT in Wales from April 2018

The rent is set at the point of purchase. Annual rent review on the date specified in your lease will be indexed to movements in the Retail Price Index (RPI) subject to a minimum 0.5%. RPI has been in the range c.1-4% since 2013, and was 3.3% in March 2018.  3.3% is equivalent to an extra £1.98 per week for typical rent of £60 per week.