Legislate to protect those who buy retirement properties

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Legislate to protect those who buy retirement properties

Petition Details

Legislate to protect the elderly who purchase retirement properties from housing associations, either full or shared ownership. This should include ensuring that full information is shared on purchase contracts, and that there are no hidden fees.

Additional Information

Are these contracts fit for purpose or sensible to sign in the later years of life? Some retirement homes have high service charges, and incur a 1% sinking fund fee on sale. In the current economic climate, the high service charges together with the tight resale criteria can make them unsaleable and uninheritable.

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