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retirement flats ?
bluebeary
Posts: 7,904 Forumite
something ive always wondered
can anyone buy a retirement flat or do you have to be over a certain age and subscribe to some get out clause concerning the communal areas etc ?
can anyone buy a retirement flat or do you have to be over a certain age and subscribe to some get out clause concerning the communal areas etc ?
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Comments
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asked something similar a few hours ago https://forums.moneysavingexpert.com/discussion/3653841, hope this helpsNo longer an accidental landlord, still a wannabe millionaire:beer:
initiative q sign up link
https://initiativeq.com/invite/HQHpIjaoQ0 -
Most of the ones I have dealt with (I'm a lawyer) have a clause in the lease stating you have to be over 55 or sometimes 60. Occasionally someone younger will be allowed to buy, but only if someone of the correct age will be living there.0
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What do you mean by 'retirement flats'?
If you are describing a block of flats that is typically occupied by retired people, then of course anyone can buy one - they just happen to appeal more to retired people due to perhaps their location, lay-out, facilities etc.
If you are describing a block which is reserved for ritired people, then by definition there will be some restriction - usually age - on who can buy!0 -
If you are describing a block which is reserved for ritired people, then by definition there will be some restriction - usually age - on who can buy!
It may just be an age restriction on who can live there, rather than ownership, but I guess that will vary from one development to the next.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Brand new retirement flats are overpriced but because a lot of retired people don't look for second hand ones, they are sometimes ridiculously low in price compared with new ones nearby.RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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