Housing Minister, Grant Shapps, is calling on councils to give elderly people more choice and control over where they live, so they are not forced into selling homes that no longer meet their needs. Under the FreeSpace project piloted by the London Borough of Redbridge, elderly homeowners are being helped to downsize into rented accommodation, [...]
downsizing
“Renting to retire” an alternative to downsizing
Downsizing is one way of freeing up capital on retirement, but the Association of Residential Letting Agents (ARLA) is reminding homeowners that it’s not the only way of using property assets to supplement pension income. Letting the family home, rather than selling it, offers a strong alternative according to ARLA, which points out that for [...]
Cash buyers make up 40% of house purchasers
Figures from the Council of Mortgage Lenders (CML), seen by the BBC, show a huge rise in the proportion of home buyers paying in cash. In January, nearly 40% of purchasers had no need of a mortgage, meaning that the proportion of loan-free buyers had more then doubled since CML records began, in 2005, the [...]
