Fritton lake frequently asked questions 2015

FRITTON LAKE RETREATS

Welcome to Fritton Lake Retreats

Frequently asked questions

FRITTON LAKE RETREATS FREQUENTLY ASKED QUESTIONS Why do people buy Lodges here?

Set in 400 acres of mature woodland, Fritton Lake is a beautiful setting. Interestingly, the surrounding area is also a major attraction as we adjoin the Waveney Valley, with its access to the Norfolk Broads, and are only a short drive from Southwold and Aldeburgh on the Suffolk Heritage Coast. The park is also very well managed and this appeals to our existing owners. Our lodges give people all the advantages of modern living in addition to a luxury environment, peace and quiet, and independence, at a fraction of the cost of a bricks & mortar home.

Are lodges really just caravans?

No! Our lodges are all built to British Residential standard BS3632 which means that they benefit from domestic quality double-glazing and central heating. They are also extremely well insulated so you will be cool in the summer and as warm as toast in the winter.

Do Lodges lose Money Because our Lodges are built to a residential standard and to a far higher quality than caravans, which can depreciate quite considerably, they retain their value exceptionally well. Although there is no guarantee of increased value, Lodges have proven to be a good long-term investment.

Can we pass the lodge on to family?

Yes, the lodge is your property and you can give it to direct family whenever you wish. When you purchase, you are given a licence for the base on which the lodge sits and this guarantees your location for 25 years.

This can be renewed for a further 25 years upon expiry. If you wish to transfer this, you simply let us know. (As you would expect, we reserve the right to approve your beneficiaries as we do with our own customers).

FRITTON LAKE RETREATS Are there any catches?

No, absolutely not. We are a part of the Somerleyton Estate, which is your guarantee of security. We do not know if the lifestyle will suit you but we are happy to have an informal discussion and explain everything in detail. If you decide that the ownership is right for you we can show you the park and lodges. We know that you will fall in love with Fritton Lake, come and see us!

Do we have to pay the whole price immediately?

No, depending upon how you are buying we take small deposits as follows: New Home Pitch Reservation Fee ÂŁ5000.00 50% of purchase price payable on order Balance of Purchase price payable upon completion.

The balance of the purchase price is paid 7 days before takeover, at a date we agree between us. Many of our customers have investments to realise or properties to sell so identifying a move in date can be difficult. We are happy to work with you as long as we are kept informed of progress.

FRITTON LAKE RETREATS What do our site fees cover?

Your annual site fee is the cost of siting a lodge at Fritton Lake for use all year round. Unlike many other parks the local rates cost and water supply are included in this figure. This includes the cost of security, grounds maintenance, and refuse collection. There really are no other charges‌ As an owner at Fritton Lake you benefit from: FREE Membership of our Golf & Angling clubs FREE access to 250 acres of Fritton Country Club Fritton House Bar and Restaurant The Dukes Head Gastro pub Can you hold a base for us until we decide?

Unfortunately, although we have several bases to sell, we find that the most attractive ones sell more quickly.

We understand that there is so much to consider but if you decide that the lifestyle is right for you, you need to reserve a base before someone takes it from you.

FRITTON LAKE RETREATS Annual Fees and Running Costs 2014 Season Fees at the date of takeover are included in your purchase price. For your information , please find below details of the annual costs and when payments are next due

Description Site Fees

Band A Band B Band C

Annual Amount £4663.64 £4756.92 £4159.79 £4242.99 £3548.63 £3619.60

Insurance

Approx. £400

Electricity

Metered depends on use* Metered depends on use* Approx. £550

Invoiced October

Payment Due January July Quarterly

•Electric estimates are based on owners use, sub let figures will be higher **The relevant fees are included up to the date of purchase . After this date, fees will be due as detailed as above. ** Site Fees quoted are charged on a pro-rata basis depending on the time that you buy and include VAT, which is currently charged at 20%.

FRITTON LAKE RETREATS Letting your Lodge Sub letting your lodge is a great way to cover annual running costs and some of our owners take this even further and operate as small businesses generating a good income from letting. (There are tax concessions depending on qualifying criteria).

Lodges are let solely through our agents Hoseasons and bookings are strictly controlled to avoid nuisance & disruption to other lodge owners.

The dates that you let your lodge, are key to ensuring a decent return on your investment, for example, letting your lodge for the whole of the main summer holidays would produce a good income, letting your lodge only in November would result in poor income. The most popular package is a combination of these dates.

The Hoseasons agreement for “owner” weeks is split into 2 blocks Peak Weeks – Bank & School Holidays (including Xmas & New Year) Off Peak Weeks – the remainder of the year (excluding Xmas & New Year) In peak weeks, owners are free to use their homes for 2 in weeks in high season)* In off peak weeks owners can use their lodge as often as they wish.

The Hoseasons management fee is calculated at 30% of letting fees. In addition you would pay cleaning and laundry management costs of approx. £55 per let. Net proceeds are paid to you twice yearly. *if you wish to use your lodge for extra peak weeks, this is fine but you will pay a charge of 10% of the letting fee due.