Retirement Property Management Companies: Regulation

Jim Shannon Excerpts

Tuesday 8th September 2026 Commons Chamber

[Simon Hoare]

I agree fundamentally with the hon. Gentleman. I will come on to that matter in a moment, because there are two very specific areas that I think require attention.

Cognatum does not get off scot-free because of one doggedly determined constituent, Peter Wintle, who lives in Home Farm of Iwerne Minster. He has cogently and sensibly asked questions over the years of Cognatum, only to be met with very little in reply. The issues that Peter has raised with me on behalf of those residents, which are echoed by others, is the absence of management transparency—a key and important thing—and accountability of the companies involved, as well as a lack of clear communication that sets out in easily digestible form information that residents require and openness on finance, explaining why service charges go up and why repairs or maintenance are being done in a certain way. There is a lackadaisical and tardy attitude in responding to issues and complaints raised by residents—all things that should not be expected. The complaints system is not worthy of the name. In the case of Cognatum, because of the way it organises itself, there are also unaudited accounts, which make it incredibly hard for anybody to follow the line on the balance sheet.

I give way to the hon. Gentleman, without whom no Adjournment debate would be complete.

[Jim Shannon (Strangford) (DUP)]

I commend the hon. Gentleman for securing this debate. Vulnerable retirees in Strangford are facing experiences and anxieties that mirror those he has referred to. While we do have the Ground Rents Act (Northern Ireland) 2001, it lacks a statutory cap on ground rents and it is not possible to regulate the runaway management and event fees levied by private firms. Does the hon. Gentleman agree that our elderly population, including elderly constituents in Strangford, deserve uniform financial protections and safety from predatory management practices, regardless of which corner of the United Kingdom they reside in?

[Simon Hoare]

I agree. That goes back to the point I made a moment ago that too many of these companies see their residents as a soft or easy touch. They think that their residents will just suck it up and simply write the cheque.