Ownership & Fees
Our buying process is designed to give you peace of mind at every step of the way. We are open and transparent – there are no hidden costs – and our fixed weekly fee gives you total certainty over your costs, both now and into the future.
- Fully refundable deposit.
- You can reserve your villa at Mayfair Village for a $5,000 deposit. This is fully refundable if you decide not to proceed.
- Plenty of time to decide.
- Once you sign the agreement with your solicitor, there is a ‘cooling off period’, where you have another 15 working days to change your mind for any reason. Should you cancel within that period, your deposit will be fully refunded along with any net interest it has earned.
- Your Occupation Right Agreement.
If you do decide to proceed, a contract called an ‘Occupation Right Agreement’ (ORA) will be prepared and sent to your solicitor, who will advise and make sure that you understand it fully before signing. The ORA is the type of tenure you will have at Mayfair Village and does not confer any interest in the land.
All costs and obligations are set out in your ORA. We are always happy to talk you through this, and you’ll also need to get independent legal advice before you can enter into an agreement.
The purchase of your ORA is always conditional on your solicitor approving the agreement and all associated documentation. We can even make the purchase of your agreement conditional upon you selling your existing home.
- The certainty of a fixed weekly fee.
- Our fixed weekly fee covers rates, building insurance, gardening, exterior maintenance, 24/7 onsite emergency response service, staff and use of all the village communal facilities and amenities. Your weekly fee will be fixed for the entire period of your occupancy, giving you certainty over your future outgoings. We make no profit from this weekly fee.
- No hidden costs.
- When you decide to leave, and your home has been sold, we will pay you an amount equal to your original entry payment, less a Deferred Management Fee (DMF). This covers the capital costs of the village and facilities, and the refurbishment of your home for the incoming resident. We will also cover any capital loss, so you have absolute certainty over how much you will receive when you leave. There are no exit fees or hidden costs, including any additional marketing, cleaning or selling fees.
- Village manager on site.
- Mayfair Village has a full-time village manager who is responsible for the day-to-day administration of the village. The manager is your first point of contact if you have any questions, concerns, or ideas.
- Residents' committee.
- We encourage all of our residents to have a say in how their village is run by participating in residents’ committee meetings.