16 July 2014
A Further Blow For Mcarthy & Stone Residents
Those that bought into the dream of owning a Mcarthy& Stone retirement apartment, have found to their cost that they have not really "bought" into their dream, rather they have "bought" a long term rental. They have (especially when managed by Peverel) have seen costs rise dramatically and service levels fall off a cliff. Many have been subjected to the price fixing fraud.
In a further blow to residents, it has come to light that those who had planned to take out an equity release plan to help with their income in advancing years are finding it very difficult to obtain such a plan, as those that offer it realise that retirement apartments are suffering from catastrophic falls in value.
