Maureen, do not despair you are experiences are not unique. Please send me an email colin.grace@praktis.com or call me on 07810 883897 and I will give you a view on how other owners on parks are taking issues foward in what does appear to an unregulated market more…
I have read your comments with interest as we own a lodge at the carnforth site at least we now know that John Morphat treats all his lodge owners with contempt no matter what site What an exclusive club we bought in to with blinkers on. more…
"What are the prices? did they get the asking prices over £160k?"
No idea Colin, but we've all seen the special offers and reductions, so I guess that not all (if any)new owners will have paid those very high headline prices, and the top, most expensive lodges, are still unsold.
oops - 7.5k commission should read 7.5% of course - an important distiction if you are about to part with quarter of a million quid on a Kirkstone Lodge :-) more…
The problem lies, I suspect, in the rather vague wording about entring into "a private sale agreement".
No information about what this constitutes has ever been provided, although I was told recently by someone who has sold a lodge recently, that it does, allegedly, include an exclusivity clause.
Agree we need to apply pressure on SLP. Are there any legal requirements under the 'Home Owners' Act etc to compel them to sell second lodges on the open market
John Morphet is June 2006 in discussion with Lodgers Forum acknowledged the issue and talked about an estate agent package being made available to owners
SLP strategy is to create a closed market. They don't actively promote let alone sell second hand lodges. They are intent on buying up second hand lodges to recover the 7.5 % commission and site a new lodge ( this has happen around the Beck and Loop areas of the park).
As we know this strategy is counter productive. Why?
Yes - as do The Warren down at Abersoch and sevarl other sites.
The fact that the SLP website states baldly that ther are no second hand lodges for sale at Limefitt when you query it is bordering on ... well how would you describe it? I can think of a couple of rather uncomplimentary adjectives ;-) more…
I had some interesting if at times confusing discussions with Limefitt about gas bottles.
The policy now is that all lodges not on mains gas should have two gas bottles. When I queried if my regulator would switch automatically when one bottle was empty I was told it would not.
However Trevor Morely (may his name forever be rever more…
I think that there are two distinct schools of thought here.
One is that the site fees are a legitimate profit stream for SLP and that they are within their rights to increase this by the rate of inflation and increase the overall take as the number of lodges increases.
The other – to which I subscribe, and which I have ex more…
"I assume the sports field is not being developed for lodges!"
I was told by someone (it might have been Trevor, I can't remember) that they are not allowed to develop beyond the tree line at the eastern side of the sports field. Let's hope not eh! more…
Sales Notice - is that the one page (two sided document)? I have one those on my first lodge and on my other lodge a 15 page (or so) lease.
Re - WxB & Ts & Cs
It seems nobody can tell you about any new Ts & Cs simply because it seems there aren't any! I was told by Head Office that the Ts & Cs referred to o more…
The first group of Applethwaite Owners in 2004 only signed a sales notice...an invoice . We were promised contracts which still have NOT been provided despite many requests via the Lodgers Forum. Hence the recent surprises
1. WxB passes now being restricted to owners not paying guests
"most of the lodgers don't have a contract as we all bought from John Morphet "
Been thinking about this - you must have signed a lease of some sort surely? Maybe not the same as they use now. I have got two totally different leases on each of my lodges. more…
At the moment the mortgage interest thing appears to be just something floated by from The Chartered Institute of Housing (who are they?)rather than being any sort of gvernment policy. Touch wood.
Well Colin - as you say these issues affect us all. They are also perhaps issues that are best discussed in a more private arena, and I agree about the collective influence. We really need to have a chat dont we ;-) more…
"If the government changes the law ( some press coverage on BBC News today ) to reduce owners ability to use mortgage interest as a cost on a buy to let then we will all be re-calculating our positions "
Yup - that would change things.
And with the Popular Liberation Army of Westmorland on the move as well ... ;-)
< more…
John , I think we agree that this whole area is breaking new ground and the accountants would need to look at situation were a lodge has been sold which previously recovered tax through the depreciation method subject to capital allowances. I suspect we are both in a similar situation by which we off set a loss on one business against the profits o more…
And it should be pointed out perhaps that there are no private sales because the purchase contract states that all sales must be made via SLP - so a private sale would be a legal impossibility as things stand. more…
Depends whay you mean by a private sales I suppose. We bought our first lodge direct "from the owners", but SLP became involved in the negotiations as we wanted a longer lease than just what remained. They ended up in the middle and our contract was with them, but until we got to the en more…
Holiday homes attract special treatment for CGT which is one thing that makes buy to let more attractive
According to Grant Thornton tax advisers, following two years of ownership, the effective rate of CGT may be as low as 10% on a disposal. By contrast, non-business assets have to be held more…
SLP DON’T ADVERTISE LODGES AS BUY TO LET OPPORTUNTIES . IN MY EXPERIENCE PEOPLE BUY TO LET TO REALISE CAPITAL GROWTH ...WITH THE RENT COVERING THE COSTS. LODGES WILL REDUCE IN VALUE OVER THE TERM OF THE LEASE AND IF THEY APPRECIATE SHORT TERM AND YOU SELL YOU WILL BE LIABLE FOR CGT. MY ACCOUNTANT WAS NOT COMFORTABLE WRITING DOWN THE VALUE OF PROPER more…
Thankyou for adding that observation. I am glad that we seem to have been able to clarify the point about "buy to let" investments, and am interested to hear that you oviously got similar comments to mine from other sources as you mention "a few owners".
My only "hidden agenda" (clarifying that buy to let can actual more…
Recent comments (30)
In response to: "L&G Sells Southlakeland Parks " 289 days old
by fatkat [Visitor]
South Lakeland Parks new web sites -
www.slparks.co.uk
www.slholidays.co.uk more…
In response to: "Lodges for Sale - Carnforth Site " 648 days old
by Lodger [Visitor]
Maureen
You might want to look at
http://southlakelandowners.freeforums.org/index.php
as well. more…
In response to: "Lodges for Sale - Carnforth Site " 650 days old
by lakelandlodges [Member]
Maureen, do not despair you are experiences are not unique. Please send me an email colin.grace@praktis.com or call me on 07810 883897 and I will give you a view on how other owners on parks are taking issues foward in what does appear to an unregulated market more…
In response to: "Lodges for Sale - Carnforth Site " 650 days old
by Maureen Stone [Visitor]
I have read your comments with interest as we own a lodge at the carnforth site at least we now know that John Morphat treats all his lodge owners with contempt no matter what site What an exclusive club we bought in to with blinkers on. more…
In response to: "Kirkstone - 9 sold ?" 746 days old
by Windermerelodge [Member]
"What are the prices? did they get the asking prices over £160k?"
No idea Colin, but we've all seen the special offers and reductions, so I guess that not all (if any)new owners will have paid those very high headline prices, and the top, most expensive lodges, are still unsold.
I would guess though that the prices paid w more…
In response to: "Kirkstone - 9 sold ?" 746 days old
by lakelandlodges [Member]
What are the prices? did they get the asking prices over £160k?
I guess we all have a different view of 'good value'
- 6% rental returns on an investment ( £100k) ?
We can't estimate a market price as SLP decide based upon their monopoly position
I think the rental returns are good if you are se more…
In response to: "Kirkstone - 9 sold ?" 747 days old
by Windermerelodge [Member]
According to Mark Thomas there have, in fact, been 9 sales. 7 lodges sited and 2 bought off-plan still to be sited.
Not bad given the prices! Makes my lodge on Fellside look VERY good value! more…
In response to: "Kirkstone - 9 sold ?" 759 days old
by Windermerelodge [Member]
Well if it's on their web site then it must be true and acurate then Colin.
Once they've all moved in we ought to have a get together- we could invite local and SLP management as well to chat about one or two things ;-)
(actually that's a serious suggestion Colin) more…
In response to: "Lodges for Sale - Carnforth Site " 759 days old
by Windermerelodge [Member]
oops - 7.5k commission should read 7.5% of course - an important distiction if you are about to part with quarter of a million quid on a Kirkstone Lodge :-) more…
In response to: "Lodges for Sale - Carnforth Site " 759 days old
by Windermerelodge [Member]
The problem lies, I suspect, in the rather vague wording about entring into "a private sale agreement".
No information about what this constitutes has ever been provided, although I was told recently by someone who has sold a lodge recently, that it does, allegedly, include an exclusivity clause.
If this is the case then more…
In response to: "Lodges for Sale - Carnforth Site " 759 days old
by lakelandlodges [Member]
Agree we need to apply pressure on SLP. Are there any legal requirements under the 'Home Owners' Act etc to compel them to sell second lodges on the open market
John Morphet is June 2006 in discussion with Lodgers Forum acknowledged the issue and talked about an estate agent package being made available to owners
We need more…
In response to: "Lodges for Sale - Carnforth Site " 760 days old
by Windermerelodge [Member]
Well anyone wanting a no cost sale advert on www.limefitt.com only has to ask me ;-)
It's totally free and no obligation of any sort - all I would ask is that your description is accurate!
SLP may not be keen on me doing ths but until they change their own site to include second hand lodges on the "For Sale" lists I can't more…
In response to: "Lodges for Sale - Carnforth Site " 761 days old
by lakelandlodges [Member]
SLP strategy is to create a closed market. They don't actively promote let alone sell second hand lodges. They are intent on buying up second hand lodges to recover the 7.5 % commission and site a new lodge ( this has happen around the Beck and Loop areas of the park).
As we know this strategy is counter productive. Why?
more…
In response to: "Lodges for Sale - Carnforth Site " 761 days old
by Windermerelodge [Member]
Yes - as do The Warren down at Abersoch and sevarl other sites.
The fact that the SLP website states baldly that ther are no second hand lodges for sale at Limefitt when you query it is bordering on ... well how would you describe it? I can think of a couple of rather uncomplimentary adjectives ;-) more…
In response to: "Gas Bottle Switch Over Values " 762 days old
by Windermerelodge [Member]
I had some interesting if at times confusing discussions with Limefitt about gas bottles.
The policy now is that all lodges not on mains gas should have two gas bottles. When I queried if my regulator would switch automatically when one bottle was empty I was told it would not.
However Trevor Morely (may his name forever be rever more…
In response to: "2008 Site Fees Increase is 4.4.%" 814 days old
by Windermerelodge [Member]
I think that there are two distinct schools of thought here.
One is that the site fees are a legitimate profit stream for SLP and that they are within their rights to increase this by the rate of inflation and increase the overall take as the number of lodges increases.
The other – to which I subscribe, and which I have ex more…
In response to: "Why are the Kirkstone Lodges not selling?" 831 days old
by John [Visitor]
"I assume the sports field is not being developed for lodges!"
I was told by someone (it might have been Trevor, I can't remember) that they are not allowed to develop beyond the tree line at the eastern side of the sports field. Let's hope not eh! more…
In response to: "Opening Up the Market for Lodge Sales " 872 days old
by Windermerelodge [Member]
Sales Notice - is that the one page (two sided document)? I have one those on my first lodge and on my other lodge a 15 page (or so) lease.
Re - WxB & Ts & Cs
It seems nobody can tell you about any new Ts & Cs simply because it seems there aren't any! I was told by Head Office that the Ts & Cs referred to o more…
In response to: "Opening Up the Market for Lodge Sales " 872 days old
by lakelandlodges [Member]
John
The first group of Applethwaite Owners in 2004 only signed a sales notice...an invoice . We were promised contracts which still have NOT been provided despite many requests via the Lodgers Forum. Hence the recent surprises
1. WxB passes now being restricted to owners not paying guests
2. General rates more…
In response to: "Opening Up the Market for Lodge Sales " 872 days old
by Windermerelodge [Member]
"most of the lodgers don't have a contract as we all bought from John Morphet "
Been thinking about this - you must have signed a lease of some sort surely? Maybe not the same as they use now. I have got two totally different leases on each of my lodges. more…
In response to: "Is a Modern Lodge a Good Investment?" 872 days old
by Windermerelodge [Member]
At the moment the mortgage interest thing appears to be just something floated by from The Chartered Institute of Housing (who are they?)rather than being any sort of gvernment policy. Touch wood.
http://news.bbc.co.uk/2/hi/programmes/moneybox/6233266.stm
more…
In response to: "Opening Up the Market for Lodge Sales " 873 days old
by Windermerelodge [Member]
Well Colin - as you say these issues affect us all. They are also perhaps issues that are best discussed in a more private arena, and I agree about the collective influence. We really need to have a chat dont we ;-) more…
In response to: "Is a Modern Lodge a Good Investment?" 873 days old
by Windermerelodge [Member]
"If the government changes the law ( some press coverage on BBC News today ) to reduce owners ability to use mortgage interest as a cost on a buy to let then we will all be re-calculating our positions "
Yup - that would change things.
And with the Popular Liberation Army of Westmorland on the move as well ... ;-)
< more…
In response to: "Opening Up the Market for Lodge Sales " 873 days old
by lakelandlodges [Member]
John now we really debating the key issues were we collectively can make a big impact
In response to your comments
- most of the lodgers don't have a contract as we all bought from John Morphet
- Morphet in June 2006 met with the Lodgers Forum and claimed he was about to address the re-sale issue. He was lo more…
In response to: "Is a Modern Lodge a Good Investment?" 873 days old
by lakelandlodges [Member]
John , I think we agree that this whole area is breaking new ground and the accountants would need to look at situation were a lodge has been sold which previously recovered tax through the depreciation method subject to capital allowances. I suspect we are both in a similar situation by which we off set a loss on one business against the profits o more…
In response to: "Opening Up the Market for Lodge Sales " 873 days old
by Windermerelodge [Member]
And it should be pointed out perhaps that there are no private sales because the purchase contract states that all sales must be made via SLP - so a private sale would be a legal impossibility as things stand. more…
In response to: "Opening Up the Market for Lodge Sales " 873 days old
by Windermerelodge [Member]
"The lodgers are unaware of any private sales. "
Depends whay you mean by a private sales I suppose. We bought our first lodge direct "from the owners", but SLP became involved in the negotiations as we wanted a longer lease than just what remained. They ended up in the middle and our contract was with them, but until we got to the en more…
In response to: "Is a Modern Lodge a Good Investment?" 873 days old
by Windermerelodge [Member]
"YOU WILL BE LIABLE FOR CGT.."
Holiday homes attract special treatment for CGT which is one thing that makes buy to let more attractive
According to Grant Thornton tax advisers, following two years of ownership, the effective rate of CGT may be as low as 10% on a disposal. By contrast, non-business assets have to be held more…
In response to: "Is a Modern Lodge a Good Investment?" 873 days old
by lakelandlodges [Member]
SLP DON’T ADVERTISE LODGES AS BUY TO LET OPPORTUNTIES . IN MY EXPERIENCE PEOPLE BUY TO LET TO REALISE CAPITAL GROWTH ...WITH THE RENT COVERING THE COSTS. LODGES WILL REDUCE IN VALUE OVER THE TERM OF THE LEASE AND IF THEY APPRECIATE SHORT TERM AND YOU SELL YOU WILL BE LIABLE FOR CGT. MY ACCOUNTANT WAS NOT COMFORTABLE WRITING DOWN THE VALUE OF PROPER more…
In response to: "Is a Modern Lodge a Good Investment?" 875 days old
by Windermerelodge [Member]
Colin
Thankyou for adding that observation. I am glad that we seem to have been able to clarify the point about "buy to let" investments, and am interested to hear that you oviously got similar comments to mine from other sources as you mention "a few owners".
My only "hidden agenda" (clarifying that buy to let can actual more…