{"id":149378,"date":"2025-02-04T15:30:16","date_gmt":"2025-02-04T08:30:16","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-had-to-sell-my-fathers-retirement-flat-at-less-than-half-price-and-that-took-six-years\/"},"modified":"2025-02-04T15:41:43","modified_gmt":"2025-02-04T08:41:43","slug":"i-had-to-sell-my-fathers-retirement-flat-at-less-than-half-price-and-that-took-six-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-had-to-sell-my-fathers-retirement-flat-at-less-than-half-price-and-that-took-six-years\/","title":{"rendered":"I had to sell my father\u2019s retirement flat at less than half price \u2013 and that took six years"},"content":{"rendered":"


\nWhile we were waiting an age for a sale, keeping it cost us \u00a34,000 a yearIt has taken me six years to sell my father\u2019s retirement flat for less than half of what he paid for it. For most of that time we have had to pay annual service charges of more than \u00a34,000 \u2013 \u00a32,000 in council tax, and \u00a32,000 in interest on unpaid care home fees which the sale of the flat was meant to fund.It seems retirement apartments are incredibly difficult to sell. In his particular development, owned by Pegasus, a third of the flats were either empty or being sublet. Continue reading…
\n
\nSource : theguardian.com
\nRead more…I had to sell my father\u2019s retirement flat at less than half price \u2013 and that took six years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While we were waiting an age for a sale, keeping it cost us \u00a34,000 a...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-149378","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-CRk","jetpack-related-posts":[{"id":86705,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/do-retirement-villages-live-up-to-the-glossy-hype\/","url_meta":{"origin":149378,"position":0},"title":"Do retirement villages live up to the glossy hype?","date":"April 28, 2018","format":false,"excerpt":"\r The brochures promise a \u2018first class\u2019 lifestyle, but buying there may not make sense financiallyDenise Eede\u2019s parents were among the pioneers of a new form of housing when they bought a flat in Britain\u2019s first privately owned US-style retirement community, a 28-acre complex outside a leafy Surrey village. Her\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":160696,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-wants-63-of-retirement-flat-sale-price\/","url_meta":{"origin":149378,"position":1},"title":"Developer wants 63% of retirement flat sale price","date":"September 9, 2025","format":false,"excerpt":"\r My widowed sister-in-law has dementia and we need to sell to fund her care home, but the charges seem excessiveThe sheltered housing provider Anchor is taking more than 60% of my widowed sister-in-law\u2019s nest egg, which she needs to fund her care home.She and her late husband bought a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":146823,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/my-brother-has-fallen-victim-to-the-retirement-home-transfer-fee-money-grab\/","url_meta":{"origin":149378,"position":2},"title":"My brother has fallen victim to the retirement home transfer fee money grab","date":"August 26, 2024","format":false,"excerpt":"\r He and others continue to be fleeced by an \u2018indefensible revenue stream\u2019 set up by freeholdersIn 2022 my brother bought a flat in a retirement complex built by McCarthy Stone. A year later he had to move to a care home because of cognitive difficulties, and I am now\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/seniors-have-options-to-unlock-value-of-hdb-flats\/","url_meta":{"origin":149378,"position":3},"title":"Seniors have options to unlock value of HDB flats","date":"September 11, 2018","format":false,"excerpt":"\r Seniors may choose to rent our a spare bedroom or sell part of their lease back to HDB. HDB flats provide a nest egg to seniors for their retirement needs, and the authorities have introduced many schemes and programmes to monetise such properties by then, according to National Development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110483,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lbs-available-for-flat-owners-with-outstanding-mortgage-loan-of-over-5000\/","url_meta":{"origin":149378,"position":4},"title":"LBS available for flat owners with outstanding mortgage loan of over $5,000","date":"September 4, 2019","format":false,"excerpt":"\r Flat owners with outstanding mortgage loans of more than $5,000 can now take up the LBS \u201cas long as the proceeds from the lease sale are sufficient to fully discharge the loan. The rule that requires Housing and Development Board (HDB) flat owners to have an outstanding loan of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-scrap-re-offer-of-balance-flats-exercise\/","url_meta":{"origin":149378,"position":5},"title":"HDB to scrap Re-Offer of Balance Flats exercise","date":"March 5, 2020","format":false,"excerpt":"\r The change is part of the various measures unveiled by Wong to make housing more accessible as well as to better support Singaporeans\u2019 diverse housing needs. Homebuyers can look forward to faster access to public housing as the Housing and Development Board (HDB) will do away with the Re-Offer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/149378"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=149378"}],"version-history":[{"count":1,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/149378\/revisions"}],"predecessor-version":[{"id":149379,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/149378\/revisions\/149379"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=149378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=149378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=149378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}