Hardwick Grange

Our service charge varies slightly from development to development reflecting their different sizes and facilities, but they are formulated the same across the country.

For a typical Retirement Living apartment at Hardwick Grange, the service charge is £40.24 per week for a one bedroom apartment which is prepared for the month ending 30th September, 2020. For a two bedroom apartment, it is £60.35 per week.

In addition to the service charge cost below there is a cost payable for Ground Rent which is:- £8.15 for a one bedroom apartment and £9.49 for a two bedroom apartment.

Our management businesses, and service charges, reflect the expectations of our Customers and the Landlord (McCarthy & Stone Retirement Lifestyles) and the range of services required under the terms of the lease.  For example, we employ staff on each development, tender for all work with independent service providers and don’t take any commission or receive retrospective rebates.

In our Retirement Living schemes, the service charge covers a range of services provided for homeowners, such as:

• House Manager
• 24 hour emergency call system
• Ground Rent
• intruder alarm costs
• camera door entry system
• buildings insurance
• maintenance
• water rates
• sewerage rates
• window cleaning for external windows
• heating of the communal areas

We believe the charge provides good value for money. We do not provide any of these services ourselves, with the exception of the House Manager, who is employed by MSMS. At some of our most recent developments, the service charge also includes the cost of heating within the apartments.

Our service charges are fixed on an annual cycle and reflect the costs of the services we procure on behalf of our homeowners.

We share the individual costs that make up the service charge with homeowners and outline the methods for calculating the resulting charge. The service charge for each year is agreed in consultation with homeowners through an open book budgeting process.

We do our very best to negotiate the best cost with third party service providers on behalf of our homeowners. As part of our system of checks and controls to ensure they are treated fairly, we regularly monitor service charges in our managed schemes against current market practices and third party providers to ensure we offer competitive rates. We have developed a simple chart to help Customers make a direct comparison for use during the sales process and a full breakdown of the service charge budget is available from our Sales teams and House Managers at all new developments.  

While this will depend on individual circumstances, we find that, in most cases, service charges for one of our apartments are lower than like-for-like costs in a Customer’s previous property.  In addition, heating costs are very often lower due to our modern construction methods and, most likely, the more manageable size of the new apartment.

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. 

Private Shared Ownership provides an affordable way to buy a home; you purchase a 70% share in a brand-new McCarthy & Stone home and pay rent on the part you don't own.

It allows you to move into your new home without committing 100% of the capital, provided you have sufficient income to cover your future monthly outgoings, which will include Service Charge, Ground Rent and Rent for the share you don't own.

The Rent will be set at the point of purchaseand annual rent reviews on the anniversary of the lease will be indexed to movements in the Retail Pricw Index (RPI) subject to a minimum 0.5%.

You will have the same rights and responsibilities as if you'd purchased the apartment outright. If you wish in the future, you may purchase further shares (reducing the rent payable) until you own your home outright.

Yes, you're permitted to sub-let your apartment subject with written permission from the landlord.

You will need to pay Stamp Duty Land Tax/Land transaction tax 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 Stamp Duty Land Tax you have to pay. 

If you decide to sell, you will need an independent valuer/surveyor to set the selling price based on open market value. As laid out in the lease, the landlord will have right of first refusal to buy, and otherwise our resales team can help you to sell. 

As with sales of wholly-owner apartments, on resale of a Private Shared Ownership apartment a contingency fee at 1% of the total resale price is charged to be held in the development's reserve or sinking fund.

We understand how important the companionship of a pet can be, so we welcome a well behaved pet to live with you in your apartment. Please contact your Sales team for further details. Terms and conditions apply.

Other than the fitted furniture in the bedroom (wardrobe) the apartments are unfurnished ready for your own furniture.

McCarthy & Stone properties are designed for independent living. They are not secure units. They are not suitable for people with significant dementia care needs. 

Therefore during the sales process it is important that buyers and families understand the limit of the support McCarthy & Stone can offer, and satisfy themselves that their family member will be safe. If McCarthy & Stone itself is unsure whether a would-be homeowner needs a higher level of care, a care manager can make a home visit with the family present to discuss an individual’s care needs. The customer’s GP can also be consulted. 

If a homeowner develops dementia, there is a lot that can be done to support them, through the purchase of a specially tailored dementia care service. However, if they can no longer live independently and safely in a development, then McCarthy & Stone can work with them and their family to help them move to a more specialised setting. 

The majority of properties built by McCarthy & Stone increase in value when resold. However, as well as buying a beautiful apartment, our customers also recognise that they are buying into a lifestyle based around security and companionship, as well as warmth, friendship, ease of maintenance, reduced responsibilities and enhanced wellbeing. As a result, the value of living in retirement housing is more than simply financial; it is also about helping our customers to live independently and have healthier, happier and, hopefully, longer lives. In addition, we have made significant improvements to our products and services in recent years to further improve the quality of our apartments alongside their ability to retain value, including:

- Setting up an in-house management services team in 2010 with a dedication to high standards, providing a single end-to-end service for customers
- Providing more internal space, en-suites, underfloor heating, walk-in wardrobes, improved bathrooms, level-access showers and enhanced kitchens
- Removing exit fees* and introducing 999 year leases
- Increasing car parking ratios

To support homeowners and their families if and when they come to resell their apartment, we work with an independent and dedicated retirement resale specialist called RetirementMove. RetirementMove is a national estate agency specialising in selling retirement properties. Its team understands that buying or selling a retirement property is an emotional journey and takes an empathetic approach to the sales process by providing an experienced specialist agent who understands how to conduct retirement property viewings. As our preferred resale agent, RetirementMove has an in-depth knowledge of the retirement market in each location and understands the retirement lifestyle, offering a personalised tailored service throughout the whole process.

Further information can be found here or you can speak to a member of RetirementMove’s friendly team on 0800 080 3080.

*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 of that scheme. There is also a small administration 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 detail.