Retirement Living: Frequently asked questions
What is Retirement Living?
A Retirement Living development offers the opportunity for independent living with flexible services available to help support residents in their daily lives. If you are over the age of 55 or in need of care, this scheme would be suitable for you. Whether you require care at the moment, or may do in the future, a flexible care package will be tailor-made for you, which can be adjusted as and when your circumstances change. This may mean an increase, reduction or a removal of care if required.
Our Retirement Living schemes have a close community feel, where residents can get involved with events and daily activities, or just enjoy a quick natter with a friendly neighbour. For your peace of mind, care staff are on hand 24 hours a day, should you need their assistance.
What is the maximum share that I can purchase?
The maximum share that you can purchase is 75% and there is no rent payable on the remaining 25% retained by Sanctuary. Shares can be purchased between 25% and 75%; lower shares would incur a rental charge, which would be capped at 75%.
What does the service charge and peace of mind charge cover?
The monthly service charge covers the building maintenance, building insurance, communal facilities, heating and water to your individual apartment. The peace of mind charge provides 24 hours a day emergency assistance.
Potential additional charges that are not included could be: council tax; electricity; telephone/TV packages; contents insurance.
Are pets allowed?
Yes, you can bring a pet with you subject to the Retirement Living Managers approval.
Can my family stay with me?
Yes, it is your home to do with as you wish. In some retirement living schemes, we may also have a guest suite available for hire, providing extra room for your loved ones on their visits.
What kind of care can I expect?
The care provision on site covers a diverse range of needs. This could inclde a few hours a week cleaning, assisted bathing, meal preparation, medication assistance or a full care package, depending upon your requirements. Care packages are tailor made and can be altered as and when required.
What happens if I want to sell my home?
You would have to obtain valuations from independent estate agents and agree with Sanctuary a marketing figure. Your home would be marketed as a previously owned shared ownership property until a suitable purchaser is sourced. Our re-sales team would then carry out the affordability checks and confirm any reservation. Sanctuary would not purchase the property back from you.
How do I apply?
If you would like to apply for one of our retirement living apartments, we ask that you complete one of our Sanctuary application forms. Once we have carried out our affordability checks, we would require copies of 3 months worth of bank statements, proof of savings, photo identification and evidence that your current home is on the market. We would also require a £200 reservation fee to secure the plot; this would remain on file until your current home is under offer.
What is Older Persons Shared Ownership?
Older Persons Shared Ownership (OPSO) is a Government backed Help to Buy scheme which enables people aged 55 and over to buy a home on a shared ownership basis. All purchasers must register with their local Help to Buy in order to qualify for the scheme www.helptobuy.co.uk.
This must be your only home. If you own another property within the UK or abroad you would not qualify for this scheme. In order to make a reservation on an apartment, your current home would need to be on the market. Reservations would be held initially for a three month period and then reviewed.
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Our vibrant Retirement Living schemes offer affordable apartments, through our Older Persons Shared Ownership scheme.