Making the move to Meadow Court

Choosing a retirement property is a big decision, and to ensure the process of choosing your new home and moving to Meadow Court is as easy as possible, Anchor have compiled the following helpful information and offer support packages to assist new purchasers.

It is important you feel confident in your decision and we encourage you to seek independent advice and discuss your options with your family and your legal advisers in detail.

Cost of moving into Meadow Court

The reservation fee for Meadow Court is £1,000.

10% of the purchase price 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 Meadow Court

Service charge

£91.01 per week (from 1 April 2023 – 31 March 2024)

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 is divided into a number of components detailed below. The service charge account is raised in advance and is split equally between all of the apartments.

Component Elements of the Service Charge

The Management Team
The Estate Services Manager, and support teams are responsible for the day to day running of Meadow Court and all its amenities. They ensure that all aspects of Meadow Court are constantly monitored, and that the well-being of all residents is maintained. The management team on site are supported by central teams based in our support hub and head office. A contribution is included within the service charge towards the provision of the homecare support service team. A management fee covers the costs of the services provided to the apartments centrally by Anchor Hanover. The services provided include HR, IT, finance and customer service centre.

Gardens and Grounds
There will be places to relax and unwind in the gardens. Anchor Hanover arranges gardening services for these areas to be maintained. This service includes looking 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 are metered by the respective utility companies and the bills are submitted to the Management Team for payment on your behalf.

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 Hanover presence on site the calls are directed to Anchor Hanover’s 24-hour customer centre.

The maintenance operative
There is a Maintenance Operative on site who is qualified to undertake small repairs and provide fire alarm/equipment checks within Meadow Court. In addition, you can employ the Maintenance Operative for help with small handyman jobs in your home. This work can be arranged directly with the Maintenance Operative who will provide a quotation for you to approve, based on the hourly rate charged. The minimum charge is for 30 minutes. Separate Handyman services are available for all new Move-ins. Please ask to see the separate Handyman services leaflet.

Telephone, television and wi-fi
The service charge covers the use of a hotel style telephone that enables you to make and receive internal and external calls with your friends and family. Internal calls are free and external calls are billed.
There is complementary wi-fi in the communal areas for you to access. You have an option to choose your own phone provider and if you want internet in your apartment will need to purchase and arrange this separately from an internet provider.
TV – we provide standard Freeview channels and the property is wired for Sky Plus. If you want Sky Plus you will need to subscribe directly with a provider. You will be responsible for obtaining your own 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 external window cleaning, repair contracts for lifts, central kitchen equipment, and other plant and equipment. All necessary checks are completed on a monthly, quarterly or annual basis to comply with Anchor’s and legislative service requirements. The communal areas are inspected by the maintenance operative to make sure that your apartment and its facilities and insure all the buildings. The service charge also covers regular external window cleaning, repair contracts for lifts, central kitchen equipment, and other plant and equipment. All necessary checks are completed on a monthly, quarterly or annual basis to comply with Anchor’s and legislative service requirements. The communal areas are inspected by the maintenance operative to make sure that all lights and equipment are working correctly. They also arrange for PAT tests (portable appliance testing) for all communal electrical equipment.
Please note that as a resident you will be responsible for the internal maintenance and redecoration of your apartment and for home contents insurance.

The coffee shop and lounge
Meadow Court has its own catering team and the café and lounge facilities are for use by all residents and their guests. The café opens from 9:30am 2:30pm each day. Please note that these opening days and times may be subject to variation, dependent upon demand.

Hair, beauty and treatment rooms
Meadow Court has its own luxurious hair and beauty salon and specialist treatment rooms for the use of all residents and their guests with limited use by the local community also being made available. The service charge allows access to all the facilities, however for all treatments/activities there will be a charge set by the service provider.

Guest suite
Under the terms of the lease Meadow Court provides a Guest Suite for the overnight accommodation of your guests. This is chargeable on a room only rate – please speak to reception for the current rate..

Other costs

Car parking

Up to one car parking permit may be issued per apartment for which there is an annual charge of £250.00. The permit is renewable every yearly.

Administration fee for resale

£660 inc. VAT

This covers the cost of dealing with the resale of a property and the associated administrational aspects. There may be other costs associated with additional solicitor enquiries that you will be made aware of when applicable.

Deferred sinking fund

3% 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 3% 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 3% = £12,000 would be owed to Anchor at point of sale.