We offer the Bluebird scheme to help you move. Live rent-free for six months and have up to 24 months to complete your purchase.
What is Bluebird?
Bluebird is our rent purchase plan designed to help you move into one of our well-appointed retirement properties, even though you may currently have a property to sell.
What does the scheme offer?
Bluebird offers you the opportunity to reserve and exchange contracts on a property, with up to 24 months to complete the purchase of your new home. Once you have exchanged contracts, you can move into a property and live rent-free for the first six months and thereafter at a discounted rate for up to a further 18 months. At the end of this period, you have the option of either completing the purchase or vacating the property. You can, of course, complete the purchase at any time during the 24-month purchase, for example on the completion of the sale of your home.
How does the scheme work?
After you choose your apartment, you complete a reservation form and provide a reservation fee of £1,000 to secure the property. You should instruct a solicitor to carry out the conveyance work on your behalf. Following an exchange of contracts between yourself and Brunelcare within the agreed timescale, you will be granted a licence to occupy the property for up to two years.
In addition to the reservation fee of £1,000, you will need to pay solicitor’s fees, stamp duty and any other fees applicable to your purchase. At exchange of contracts, you will pay a deposit equivalent to 5% of the total value of the property agreed at reservation. For the first six months, you will not be required to pay rent, however, you will be required to pay a quarterly service charge, monthly council tax and utilities. You will of course pay separately for any services you receive within the village such as meals, drinks, use of the mini-bus etc. Charges relating to personal care and support received through our domiciliary care service will also be charged separately. From the beginning of month seven of your occupation, you will also be required to pay a monthly rent, which will have been agreed upon at the time you place your reservation. All other charges will still apply.
At any time during the 24-month period, for example on the completion of your home sale, you may complete the purchase of your apartment by paying the remaining balance of the value of your apartment i.e. purchase price less the 5% deposit you paid upon exchange of contracts. Should you fail to comply with the terms of the licence to occupy or vacate the property before completing the purchase, the 5% deposit will become non-refundable, and the contract between us will end. This agreement will end automatically on the last day of the 24-month period.
When it comes to selling your apartment, you must offer the apartment back to the landlord, they will then decide if they would like to buy it back and if so, you will then have to surrender to the landlord for 95% of the price paid for the property or the open market value, whichever is lower and if not then the property may be assigned on the open market, and you will then pay an assignment fee payable to Brunelcare of:
- Up to 1 year 5%
- 1 – 3 years 7%
- 3 years plus 10% of the sales price to the landlord.
Please note: Brunelcare is not required to accept requests to surrender the property; this will be subject to the terms of your lease. Please refer to your lease for full information.
