Tag Archives: downsizing

Renting in retirement can avoid high service charges which are putting people off downsizing

This week a new research report from law firm Winckworth Sherwood and Housing LIN, asserted that housing for older people is being ignored by the government. It also highlighted the lack of choice of housing and the fact many older buyers are confused about the retirement housing options available.   80% of those surveyed claimed that […]

BBC’s The One Show suggests renting can be a good option for retirees

Last week, BBC’s The One Show (22 November 2016)[i] focused on retirement living and suggested that renting may be a good alternative to buying a property in a purpose built retirement development. Reporter Joe Crowley highlighted that a growing number of older people are buying leasehold apartments in purpose built retirement developments. Such developments offer […]

New research confirms that retirees ’just want to have fun’

As the first polymer five pound notes arrive in our wallets, analysis from retirement income specialists, Retirement Advantage, reveals that over 65s in the UK spend a greater proportion of their money on lifestyle products and services than on essentials*. Andrew Tully, Pensions Director at Retirement Advantage commented, “With the launch of the new polymer […]

England’s South Coast Most Popular Place to Live for Retirees

Dorset has just topped ‘a best places to retire’ index released by Prudential this week, followed by West Sussex, Hertfordshire, Devon and the Isle of Wight. It’s no real surprise that seaside locations continue to be popular with Britain’s retirees and this also reflects our experience. It’s easy to see why, with the reasons for […]

Half of home movers looking to downsize

We were interested to read a report by Lloyds Bank* this week which suggested that nearly half (46%) of home movers in the UK plan to downsize in the next three years and could realise up to £200,000 as a result. Downsizing was cited as the single most popular reason for moving and the average […]

‘Last-Time Buyers’ would downsize but they have nowhere to go

Lynda Blackwell, Head of Mortgages at the Financial Conduct Authority, addressed a conference yesterday and said that older people who are mortgage free and living in homes ‘too large for them’ should be encouraged by Ministers to downsize. We agree that if older people could downsize it would free up family homes for people further […]

Why older couples should consider downsizing and then rent instead of buy

A recent article in the Daily Telegraph looked at why older people don’t wish to downsize in their later years. The article highlighted some of the main obstacles, such as a lack of appealing smaller homes, the expense of moving, including stamp duty, and no decent bank savings rates to provide an adequate return from […]

One solution to the pension crisis

A recent report by Age UK and the Financial Services Commission (FSC) highlighted that a fifth of men and two-fifths of women aged 55 to 64 don’t have a private pension, and that around 20 per cent of people nearing retirement age have done little preparation to finance their retirements. One solution could be for […]