Investor Frequently Asked Questions
What am I buying?
You are buying the Retreat building outright, in addition to a 125 year lease for the land which will be registered with the Land Registry Office. The price of the Retreat and the premium for the lease are combined in the purchase price.
Why is the lease 125 years?
Other companies sell properties on a variety of terms and usually on a licence; some of which are as short as 25 years. Provided they are properly maintained, our Retreats will last for the duration of the lease period. We will provide a 12 month defects liability guarantee covering roof, structure, windows, electrics, plumbing, drainage and fit out.
What are the Payment Terms and how do I secure a Retreat?
|Signing of the lease||25% of total price|
|Retreat arriving on site||50% of total price|
|Completion||25% of total price (minus deposit)|
What choice of specification do I have?
You may be able to select a Retreat that we have pre-designed and built, enabling you to start using it as soon as you have purchased it. Some owners opt for this quick and simple approach. Others prefer to be more involved in the specification of their Retreat, and you can choose the size, 12m (40 Feet) or 14m (46 Feet) long, the internal layout and where you would like to have it built.
What is the timeframe to complete a purchase?
If you are buying a Retreat that is already sited, it will take approximately 3 weeks to process the lease and hand you the keys. For a Retreat to be built bespoke to your requirements, it will take approximately 12 to 16 weeks.
Can we buy our Retreat as a family or a group or a Limited Company?
The lease can be taken in any name and the Retreat is owned by the Leaseholder.
Apart from the purchase price what other costs are there?
An annual Property Management Fee of £3,600 which covers ground rent, the provision of clean water, waste water, domestic waste, rates, communal electricity and all grounds and landscaping maintenance.
As you would expect, you must insure your Retreat and pay for the metered electricity you use, just as you would at home. You should make sure you understand all the charges so please ask if you need any information or help.
Is finance available to assist with the purchase of the Retreat?
We are able to put you in touch with an Independent Financial Advisor who will behappy to talk to you about financing your Retreat.
What about Council Tax?
As your Retreat is classified as a holiday home, you are not liable to pay Council Tax.
Does the Retreat come with a guarantee?
Yes, your Retreat comes with a 12 months defect liability guarantee covering roof, structure, windows, electrics, plumbing, drainage and fit out. Extended warranties are available, please ask for further details.
How will I receive my income?
Income is paid every quarter directly into your bank account, supported by a full letting
statement of the income generated for the previous 3 months, less any running costs incurred.
Is the income I receive taxable?
As the owner, you will be liable for Tax from your revenue depending upon whether you reach the Tax threshold for the year. (Please see our Tax Benefit Information document and we recommend you seek professional advice regarding this).
Does our Retreat have broadband and Sky available?
Infrastructure is already in place to allow for a landline, Sky, Broadband (and WiFi). You will just need to deal with the provider directly with regards to connection.
What about maintenance and repairs?
We want to keep Cedar Retreats looking fantastic, and are responsible for looking after the grounds of the development. As an owner you are responsible for the upkeep of your Retreat; both internal and external.
Are there any rules?
A full copy of this document is available on request. For the benefit of owners and guests alike, we have produced a set of rules based upon common decency and good behaviour. These rules and terms/conditions are in place to protect the development and, ultimately, to help protect your investment. A full copy of this document is available on request.
Who can assist me with additional information if required?
Our management team will be delighted to offer you whatever assistance you may require. Additionally, our solicitor can explain any Legal issues regarding the purchase of your Retreat to you or your solicitor.