Homewise life time lease plan for over 60’s

concernedPhil

I have seen some of these Homewise properties advertised in my area where I know the property values. They are raising the market price by about 25% before offering the discount, so the deal is not anything like as good as it looks. Avoid at all costs.

katebl

In my area the majority of these are also listed at full asking with Douglas Allen, I don't think Homewise actually own the houses... also most of them are majorly unsuitable for the single 60 odd year old example they give in the blurb (i.e. large 3/4 bed houses)

KatieMW

Flat for sale in Queens Parade, New Street, Basingstoke RG21
£264,000 - discounted

Read more at primelocation.com -
The same flats are on the market at £100, 000 open market. Carsons, Romans Is it possible that Homewise won't buy until they have a buyer at their terms?

KatieMW

Another one! Detached house for sale in Downsland Road, Basingstoke RG21
£374,950 ww.primelocation.com
Same house - Detached house for sale in Downsland Road, Basingstoke, Hampshire RG21
£247,467 Over 60s only under Homewise's lifetime lease plan
.primelocation.com/

RKJ46

Katie,
The flat in New St is on the open market, via Romans, for 400,000 not 100,000. So......?

tomstickland

Loads of these appearing on searches in the Gloucestershire area. Just googled it and found this thread.

ALW1960

I have a slightly different angle of concern. Having inherited a property an elderly couple have agreed to buy at just under the asking price which is lowish anyway to attract a quick sale.
We understand that actually Homewise will be buying as they have agreed deal with this elderly couple.
My issue is that Homewise then instigate a property survey where the valuer comes from an area nowhere near the property location and has indicated without evidence to support that he considers the property value too high.
There are no similar properties in this town any cheaper and it seems to me that they are just trying it on with a low valuation in hope we will accept a reduced offer.
It feels like this company want their cake and eat it.
Why not use a local valuer.
There will be no comparables for cheaper valuation as property is already marketed at bottom end to achieve quick sale.
We obviously do not know the deal they have with this couple so in seeking a reduced price are they acting in their own self interests or trying to negotiate a better deal for their clients - bearing in mind this couple have made an offer we were happy to accept.

csgohan4

lol163 wrote: »

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Nice your very first post and you advertise them

jettejjane

I have read with interest all comments on this thread. I wish to purchase a house. I am 67. I am a cash buyer and could afford to purchase, depending obviously on price but could stretch me and leave very little. After seeing houses for over 60's I sought more information. . I now understand after talking to someone that they buy house under their scheme for me to purchase off them for a lesser amount. lesser amount which gives me a financial buffer. On my demise it is theirs. In their brochure it did mention property could be inherited. The gentleman I spoke to said a percentage could be inherited. For example purchase price 180,000 I pay 150,000 . 50% could be inherited. However, there is no reason anyone should inherit it a personal matter. But something would be better than nothing. This needs a lot more investigation and I know my family do not want me to even think of this. Any comments?

lincroft1710

jettejjane wrote: »

In their brochure it did mention property could be inherited. The gentleman I spoke to said a percentage could be inherited. For example purchase price 180,000 I pay 150,000 . 50% could be inherited.

Think about this one - even though it won't be your problem - what would you do with half a house?