For retirement

[sarahbell]

https://www.rightmove.co.uk/properties/130272731#/?channel=RES_BUY

A Deferred Development Payment of 6%, 8%, 10%, 12%, 14% or 16% of the selling price (occupancy of up to 1 year, 1 to 2 years, 3 to 4 years, 4 to 5 years and 5 to 6 years and over respectively) is payable to the freeholder, ERL (Worcester) Limited, when leaving or selling the property.

Monthly fee:
A monthly fee, currently £707.92 monthly/£8,495 annually, is payable. This covers external buildings maintenance, external cleaning of apartment windows, buildings insurance, refuse collection, all communal area maintenance and running expenses, daily concierge service, garden and grounds maintenance, 24-hour on-site staffing, 1½ hours’ domestic help a week.

 

Cost to you? £495,000

[Chewing Grass]

2 minutes ago, sarahbell said:

https://www.rightmove.co.uk/properties/130272731#/?channel=RES_BUY

A Deferred Development Payment of 6%, 8%, 10%, 12%, 14% or 16% of the selling price (occupancy of up to 1 year, 1 to 2 years, 3 to 4 years, 4 to 5 years and 5 to 6 years and over respectively) is payable to the freeholder, ERL (Worcester) Limited, when leaving or selling the property.

Monthly fee:
A monthly fee, currently £707.92 monthly/£8,495 annually, is payable. This covers external buildings maintenance, external cleaning of apartment windows, buildings insurance, refuse collection, all communal area maintenance and running expenses, daily concierge service, garden and grounds maintenance, 24-hour on-site staffing, 1½ hours’ domestic help a week.

 

Cost to you? £495,000

I guess some old dear can even have the Romeo & Juliet balcony.

[XswampyX]

9 minutes ago, sarahbell said:

https://www.rightmove.co.uk/properties/130272731#/?channel=RES_BUY

A Deferred Development Payment of 6%, 8%, 10%, 12%, 14% or 16% of the selling price (occupancy of up to 1 year, 1 to 2 years, 3 to 4 years, 4 to 5 years and 5 to 6 years and over respectively) is payable to the freeholder, ERL (Worcester) Limited, when leaving or selling the property.

Monthly fee:
A monthly fee, currently £707.92 monthly/£8,495 annually, is payable. This covers external buildings maintenance, external cleaning of apartment windows, buildings insurance, refuse collection, all communal area maintenance and running expenses, daily concierge service, garden and grounds maintenance, 24-hour on-site staffing, 1½ hours’ domestic help a week.

 

Cost to you? £495,000

They need the money. 

Here :- https://find-and-update.company-information.service.gov.uk/company/10780048/filing-history

[XswampyX]

It gets worse!

[sarahbell]

So just how goosed would you be "buying" it?

Spatchcocked or minced?

[Wight Flight]

4 hours ago, sarahbell said:

So just how goosed would you be "buying" it?

Spatchcocked or minced?

Fois Gras'd

[sarahbell]

1 hour ago, Wight Flight said:

Fois Gras'd

I think it shows that the very rich presumably are very foolish with their money 

[wherebee]

3 hours ago, sarahbell said:

I think it shows that the very rich presumably are very foolish with their money 

You'd be surprised how many very rich people know that their kids and grandkids are fuckwits and open to all the scammers.  I've seen many who were completely paranoid that once they were dead, the family money would be gone in 20 years max.

[Frank Hovis]

On 01/01/2023 at 01:33, wherebee said:

You'd be surprised how many very rich people know that their kids and grandkids are fuckwits and open to all the scammers.  I've seen many who were completely paranoid that once they were dead, the family money would be gone in 20 years max.

 

I know an elderly couple who inherited loads and, because they have been supporting their adult children (now in their fifties, none having had a permanent job since their twenties) have no savings remaining and haven't been turning their heating on because they can't afford it.

They have seen the family money go in their lifetime, not twenty years hence!

The couple both worked steady if unspectacular jobs their whole working lives so it hasn't been them who have pissed it away. Their house is the one remaining asset.

[MrXxxx]

The first generation makes it, the second generation spends it, and the third generation blows it.