Making the move
Moving home is a big decision, and to ensure the process of moving to Bishopstoke Park is as easy as possible, Anchor has compiled the following helpful information for new purchasers.
Moving is made easy with Anchor
Change of lifestyle
Many people wonder about the changes in lifestyle that moving to a retirement village will bring. Life in a retirement village can be as action-packed or laid-back as you like, and while it can present a wealth of new opportunities, there is no need for you to change your usual activities or routines at all. Retirement villages provide you with an abundance of opportunities to take up new activities and make new friends, or simply provide new venues for an already busy social life. At Bishopstoke Park, the village team help organise regular functions for residents. Families and friends can come to stay in the village and Bishopstoke Park is within easy reach of a host of shops and restaurants, so you can be as active outside the community as within.
Cost of moving into Bishopstoke Park
The reservation fee for Bishopstoke Park apartments is £1,000.
10% of the purchase price of your apartment is payable on exchange and customers will also need to budget for Stamp Duty, their own legal and moving costs.
Ongoing charges while living at Bishopstoke Park
£500 per year, for the first 25 years.
This is payable on the 1 April each year. If you purchase your lease part way through the year a proportion of the amount due will be payable, at completion of your sale.
£110 per week
At Bishopstoke Park you can own your retirement apartment and enjoy everything the village and its grounds have to offer, without having to worry about expensive maintenance, repairs or upkeep. All residents pay a contribution to the running costs of the facilities, support services and maintenance of the building and grounds which is known as the ‘service charge’. The service charge account is raised in advance and is split equally between all of the apartments. As we are a not-for-profit organisation we keep our service charge as low as possible. We ensure you can enjoy your retirement by carrying out all the tasks associated with managing and maintaining the village facilities, support services, buildings and grounds, on your behalf. The service charge is divided into a number of components detailed below. A copy of a typical service charge account can be obtained from the Village Adviser.
Component Elements of the Service Charge:
The Management Team
The General Manager, and support teams are responsible for the day to day running of Bishopstoke Park and all its amenities. They ensure that all aspects of Bishopstoke Park are constantly monitored and that the well-being of all residents is maintained. A small management fee covers the costs of the services provided to the apartments centrally by Anchor. The services provided include HR, IT and finance.
Gardens and Grounds
Anchor will organise gardener(s) to tend them and also look after the paths and walkways to make sure they are free of trip hazards.
Communal Areas, Electricity, Gas and Water
The heating, lighting and use of water in the communal areas and gardens.
24-Hour On-call Response
Your apartment is equipped with an emergency call system which will result in an on-call member of the team coming directly to your assistance, in an emergency. During times when there is no Anchor presence on site the calls are directed to Anchorcall (Anchor’s 24-hour customer centre).
There is a handyperson on site who is qualified to undertake small repairs and provide fire alarm/equipment checks within Bishopstoke Park. In addition you can use the handyman for help with small jobs in your home, at an additional charge, quotes can be obtained from the Village Manager.
Telephone, Television and Wi-Fi
The service charge covers the use of a hotel style telephone that will enable external calls and your friends and family to call you. There will be Wi-Fi in the communal areas within the village core for you to access. Telephones calls are billed for external calls via Anchor. Internal calls are free. You do have an option to go directly with your own choice of phone provider. If you want your own choice of Wi-Fi then you would purchase separately – direct with the internet provider and you would be billed direct. TV – we will provide standard Freeview channels and the property is wired for Sky Plus. If you want this then you would need to subscribe directly with a provider. It is the customers’ responsibility for obtaining a TV licence for your apartment.
Insurance, Maintenance and Repair Contracts
We arrange for any external maintenance to your apartment and its facilities, and insure all the buildings. The service charge also covers regular window cleaning. Repair contracts for lifts, central kitchen equipment and other plant and equipment are in place and all necessary checks are done on a monthly, quarterly or annual basis to comply with manufacturer’s recommendations and legislative requirements, where appropriate. The communal areas are inspected by the handyperson to make sure that all lights and equipment are working correctly. They also arrange for PAT (portable appliance test) for all communal electrical equipment. Please note as a resident you will be responsible for the internal maintenance and redecoration of your apartment and for home contents insurance.
The Village Minibus
A village minibus and driver are provided for use for planned shopping trips, a choice of excursions to local attractions and places of interest.
The Restaurant, Bar and Coffee Shop
Bishopstoke Park has its own catering team and the various catering facilities are for use by all residents and their guests.
The Mount Wellness Centre
Bishopstoke Park has its own luxurious Wellness Centre, a private facility primarily for the use of village residents with a limited number of local memberships also being made available. The service charge allows access to all the facilities, although for some dedicated treatments/activities there may be a charge.
Social Activities and Events
The village offers a wide range of social and educational activities organised by the village team. Events will either be funded by Anchor, through the service charge, or be subject to a small fee.
Other costs at Bishopstoke Park
Separate to the lease, you may be offered a licence to park a car in one of our allocated parking spaces (Subject to availability). The lease specifies that car parking spaces are allocated under a licence. The licence is renewable every 12 months and is subject to a separate fee on issue.
Unallocated communal parking is provided for phase 2 and 3 residents on a first come first serve daily bases.
Legal and administration fee for resale
£1020 inc. VAT
When you purchase a property within Bishopstoke Park you will be purchasing a long lease (125 years). This form of tenure allows for the on-going relationship between residents and the landlord. When you sell your property you will pay a fee which covers Anchors legal and administration costs for dealing with the sale.
This covers the cost of dealing with the resale of a property and the associated legal aspects.
Deferred sinking fund contribution
4% of the market value
The sinking fund is a fund which we will build up over time and which will be available to meet the cost of major repairs and refurbishment works which are not covered by the monthly service charge.
You should note that the amount in the sinking fund may vary from time to time and we can give no guarantee that there will be sufficient funds in the sinking fund to meet all of the costs of any work which may need to be done. Where there are not sufficient funds in the sinking fund the difference will be collected as an addition to the service charge.
A payment of 4% of the value of the property will be paid at the point of sale, as a contribution to the sinking fund. This percentage will be the higher of either the open market value or the premium of the property at the point of sale. e.g. If you sell your property for £400,000 x 4% = £16,000 would be owed to Anchor at point of sale.