Penny House

McCarthy Stone’s Older Persons Shared Ownership is run in partnership with Homes England and is ideal for those who want to enjoy the McCarthy Stone lifestyle without paying the full purchase price. OPSO means you can purchase a share of 75% or 50% of the overall property value.

• If you choose to buy 75% of the property, you won’t have to pay rent on the outstanding share.
• If you buy a 50% share you’ll pay an affordable monthly rent on the remaining 50%. It is only available on select properties. 

To qualify for Older Person’s Shared Ownership, you need to be 55 or older. Additionally, there will be age criteria for the McCarthy Stone retirement development you want to buy in (usually over 60 for for Retirement Living and over 70 for Retirement Living PLUS). Apart from that, the main criteria is that you must own only one property and have a household income of less than £80,000 (£90,000 in London).

Find out more about Older Persons Shared Ownership

No. We offer a wide selection of Older Persons Shared Ownership properties across England. However, not every McCarthy Stone development offers Older Persons Shared Ownership and not all properties at every development are eligible. If you want to know whether a specific development has Shared Ownership available you can message us online or call our friendly Sales Consultants on 0800 201 4811. 

McCarthy & Stone (Shared Ownership) Limited will become your landlord on the share you don't own.

Before entering into an Older Persons Shared Ownership agreement we recommend that you obtain independent financial advice so you know what your new home will cost and that you can afford it.

If you'd like to take up our Shared Ownership offer, we require you to have a financial assessment with an Independent Advisor. This is to make sure you can afford the ongoing costs now and if your circumstances change. We will put you in contact with an advisor who has experience of Shared Ownership schemes and can assess your eligibility.

You should plan for some one-off costs associated with your purchase, including, but not limited to the following:

• Reservation deposit (which is deducted from your final purchase)

• Solicitors Fees and disbursements

• Stamp Duty Land Tax (SDLT) in England.

Your solicitor will be able to tell you if the tax applies and how much it will be

• Estate Agent fees if selling a current property

On-site car parking and disabled parking for homeowners and guests is usually available but varies depending on the individual retirement village or development.

Any questions about parking? Call 0800 201 4811 or contact us online.

With Older Persons Shared Ownership you are eligible to claim up to £500 a year to help with essential repairs for ten years. This covers items in the home that supply water and electricity such as basins, baths, toilets and also cables, but not fixtures, or appliances such as ovens or washing machines. Pipes and drainage items for heating and hot water are also included. Find out more about Older Persons Shared Ownership.

That depends on your individual circumstances, but in many cases, service charges are lower than like-for-like costs in a previous property. Our research shows you could save over £2,300 a year on household bills in a McCarthy Stone retirement apartment when compared to a typical home*. Read about how we can save money on your cost of living.

Call 0800 201 4811 or contact us online to find out more about our service charges.

*Typical net saving when running a McCarthy Stone Retirement Living apartment when compared to the cost of running a typical home is £2,312 per year. Source: Internal research carried out by McCarthy Stone, 2022. Based on information from Address Intelligence using a combination of census, EPC, and planning permission.

Usually people take between 12 to 16 weeks to complete the purchase of their new retirement home, but we will try and be as flexible as possible to suit your individual circumstances.

Once you’ve reserved your retirement property, it’s likely you’ll need to sell your current home. Part exchange means we’ll buy the property from you making the process quicker and easier.

Our Part Exchange offer includes:

• Certainty: relax in the knowledge that you’ll move in on a set date and that the sale price is fixed.
• Convenience: enjoy a stress-free way to sell your home without redecorating or having to prepare your home for viewings.
• Access: to your sold property for up to two weeks after completion.
• Financial benefits:  there is no need to pay for estate agent fees and we’ll provide up to £1,000 towards solicitor fees*.
• A smooth move: our part exchange offer includes a free specialist removals service

Part Exchange in just 3 simple steps:

1. Valuation:
   Three independent local estate agents and a surveyor will value your property.
2. Offer:
   You’ll receive an offer from us based on these valuations. There’s no obligation to accept, and you may get a higher price on the open market. It’s up to you whether the benefits of part exchange outweigh this.
3. Sold:
   Should you accept this offer, we’ll work with your legal representatives to finalise the contracts — and even contribute £1,000 towards your solicitor fees*.

*T&Cs apply. Read the full T&Cs.

An Assured Tenancy on a retirement rental gives you legal protection, meaning that if you abide by the conditions of your tenancy, you can live in the property for as long as you like. If you wish to move at the end of 12 months, then you can serve notice after 10 months to give two months’ notice. The notice period is always two months.

Contact us online or call 0800 201 4811 for more information about our retirement rentals.

If you’d like to move into a McCarthy Stone retirement rental, we’ll ask you to complete a Rental Application Pack and an Income and Expenditure form. These give us the information we need to do standard background checks. You’ll be asked for proof of income, savings and/or pensions, along with copies of your last three months’ bank statements. You’ll also be asked to provide identification documents that comply with the latest Government Right to Rent regulations.

Contact us online or call 0800 201 4811 for more information about moving into our retirement rentals.

Yes. You pay a deposit to secure your rental retirement property which is offset against your first month’s rental payment. A Tenancy Deposit, equivalent to five weeks' rent, will need to be paid when your tenancy begins.

Contact us online or call 0800 201 4811 for more information about deposits.

All payments for our retirement rentals are due on the 1st of each month and must be paid by direct debit. Your rent includes all of the development’s service charges, ground rents (if applicable) and property maintenance.

Contact us online or call 0800 201 4811 for more information about our retirement rentals.