Deferred Management Fee
To help make your decision to move into our friendly community even easier, you now have three different options to choose from when paying for your service charge.
Pay As You Go, Fix your costs and Enjoy now, pay later
The Sales Consultant at participating developments will be more than happy to talk you through the new options available and the process involved.
Written details are available on request.
Terms and conditions:
- McCarthy Stone are offering a choice of options to defer the payment of service charge costs on selected developments. Purchasers can either:
- Pay their annual service charge according to the standard lease fraction. This amount may vary over time according to actual expenditure and inflationary pressures.
- Fix their annual service charge at a reduced rate in return for a defined annual contribution of 1.5-3% of the property value per annum.
- If a purchaser chooses one of the options to fix and reduce their service charge, McCarthy Stone will provide a ‘Refresh and re-sell’ service when the original purchasers chooses to re-sell their apartment:
- McCarthy Stone will complete minor repairs to the apartment, clean or replace carpets, re-decorate and obtain an electric safety certificate.
- The cost of this work will be capped at £5,000.
- This cost will be recoverable from the purchaser if they do not subsequently sell their property through McCarthy Stone Resales.
- McCarthy Stone Resales will market and sell the property without additional estate agency fees.
- If your property is not sold within 6 months of listing with McCarthy Stone Resales, we will pay 50% of your ongoing service charges for the next 6 months. If the property remains unsold after 12 months of listing with McCarthy Stone Resales we will pay 100% of your ongoing service charges for up to 18 further months.
- All of the benefits of the ‘Refresh and re-sell’ offer are contingent upon listing the property on an exclusive basis, at an agreed market value, with McCarthy Stone Resales.
- Any deferred service charge contribution is based upon the number of years, or part years, of occupation by the initial occupant and payable upon a change in occupant.
- The deferred service charge ‘event fee’ is based upon the achieved resale price or an independent RICS approved market valuation, whichever is higher.
- If having qualified for the Offer there is a change in occupation following death then McCarthy Stone shall grant the owner (or their representatives) up to a 6-month grace period during which service charges will remain at the reduced rate until the Qualifying Apartment has sold or the 6-month period has expired, whichever is the earlier.
- To be eligible for the Offer, the Qualifying Apartment must be reserved after 5th October 2020.
- The Offer is not available in conjunction with any other promotion except McCarthy Stone’s Smooth Move offer and part exchange process.
- The legal owner of the Qualifying Apartment shall remain liable for ground rent payments.
- The Offer is not available on Resale properties.
- McCarthy Stone shall only pay for the standard service charge offering and the Offer does not apply to additional and optional care packages procured by you.
- This offer is non-transferable and can be withdrawn at any time by McCarthy Stone.