A way of life that makes excellent financial sense

When considering a move you’ll want to make sure the figures add up and you’re making a smart long-term financial decision. Here we’ve outlined all the costs involved with living at a Mayfield Village:

If you would like more detailed information on anything mentioned here, please do not hesitate to contact us. We will be completely transparent with you about our costs at all times to allow you to make a decision you are comfortable with.

Protecting your biggest asset

Buying a home with Mayfield means you still retain what is possibly your biggest asset; your property. Our properties are sold on a leasehold basis, so you can enjoy the benefits of owning a property without many of the usual responsibilities such as upkeep and external maintenance.

Making finances simple and stress-free

Two types of payment to make life hassle-free

Our monthly management fee covers exterior maintenance of your home, your building insurance, your Mayfield Club membership, 24/7 security, maintaining the village and the village grounds, as well as fees associated with managing the overall business such as staffing. Additionally, when the time comes for expensive structural repairs or village improvements such as resurfacing roadways and pathways or reroofing properties, these will all be covered.

We collect two types of fees to cover the village costs and the expense of any major works required.

A monthly payment

Every month you will receive one invoice from us. One important thing to note: monthly management fees will increase only once a year, on 1st March, based upon the previous December retail price index % figure supplied by the ONS or in line with the Annual Earnings index, whichever is the highest. So you needn’t worry that there will be any unexpected price rises to surprise you.

We believe in an open and transparent environment so we hold regular company updates with owners about our services and the monthly management charge. We always give owners a minimum of one month notice of the RPI percentage increase for the following year. If we are ever unable to provide a service covered by the charge, we will make alternative arrangements.

Our deferred management charge

In addition to our monthly management fee, there is a deferred management charge that is payable from the sale of your home, or change of occupier. This, and the monthly management fee, means everyone who lives in a Mayfield village can relax, knowing there will always be enough funds to carry out any works, maintain the standard of the village and guarantee that each property has the ability to increase in value on the housing market. 

Longer term, this charge can work out at a lower collective cost than some people could pay for upkeep and major works on their own family home.

How much will you pay? As soon as you have sold or let your property you will start contributing 1% of the greater of the achieved market price or agreed valuation of the property, per year of occupation, before gaining the profits.

All these services are covered by your fees

Services covered by your fees:

  • Building insurance 
  • External upkeep of your home
  • Professional garden and ground maintenance
  • Regular clearing of roadways and footpaths
  • Servicing of lifts
  • Servicing of CCTV, emergency call system, intruder and smoke alarms
  • Night Porter and security service
  • Firstline homecarers and 24/7 call line service 
  • Nightly removal of your rubbish
  • External window cleaning
  • Mayfield Club membership
  • Preferential rates for food and beverages in the restaurant/bar bistro
  • Full servicing of the guest suite – bookable at an advantageous price
  • Free inter-property telephone calls
  • Onsite Village Manager and Head of Mayfield Care with supporting teams
  • Minibus service
  • Good utility costs
  • Social events and activities organised by the Village Manager
  • Fees associated with managing and operating the business

We also offer things such as room service, drinks, restaurant, bar, health and wellbeing centre, hairdressing, shopping, laundry and housekeeping. To make it easier for you, these services are all added to your monthly invoice.

What's not included in your fees

Should you want to sell your home at any point, our staff will try their best to sell your property as quickly and as efficiently as possible. Mayfield charge a sale administration fee of 1% of the greater of the achieved market price or agreed valuation, on all re-sales to cover the costs that we incur in administering sales and meeting potential buyers.

Reselling

The best possible price with the least amount of stress

When you come to sell your home, our staff will ensure every effort is made to complete the sale as quickly and as efficiently as possible. On all resales Mayfield will charge a sale administration fee of 1% of the greater of the achieved market price or agreed valuation. This covers the costs that Mayfield incurs in administering sales and explaining the Mayfield retirement living concept to prospective buyers.

 

How do you sell?

There are two options to be able to sell your property:

You can either direct a traditional estate agent and negotiate fees directly with your agent.
Or, we can market your property to our database and waiting lists. We change a 2% sales agency fee of the sales value achieved.

The services we provide for the additional sales agency fee will include:

Our services include:

  • Handling enquiries from prospective buyers
  • Arranging viewings of your home
  • Carry out viewings of your home and give a full tour of the village 
  • Thorough description of our services and offerings including the club facilities and village activities
  • Full explanation Mayfield Care services 
  • Health and wellbeing assessments of prospective buyers 
  • Agreement and delivery of appropriate homecare packages – if needed 
  • Full clarification of the terms of the lease
  • Instruction to our solicitors to handle purchaser’s solicitors queries
  • Handling sales from reservation to completion
  • Staff assistance with packing, removals, utility transfers etc.

Whilst you are free to change from us to an agent at any point in the sale process, please note that the sales administration fee will remain payable to us, as this covers the fees that we incur in all resales. We are always entirely open and transparent with you about our costs and should you wish to discuss this further please get in touch with a member of our team.