SIGN UP

Property Advice

Avatar Image
seanne | 17:16 Thu 25th Apr 2019 | Business & Finance
29 Answers
I own my flat worth about £170 000, I am now retired and living on basic pension. No money coming in but I have about £20 000 in savings. I am just short of buying somewhere else more suitable, as I live in the S E and I am happy here. I have no dependants. I,d like to move as I can't manage stairs now. I have no family help. I know I can't get a mortgage at my age. What's the answer ?

Answers

1 to 20 of 29rss feed

1 2 Next Last

Best Answer

No best answer has yet been selected by seanne. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Hi. Rent? Look for some sort of equity release mortgage? You may be able to find something more affordable if you are prepared to move maybe 10 mles- is that an option?
I agree with ff...sell up and rent.
Question Author
Hi don't really want to move from my town as I have travelled all my life and finally settled here
How old are you seanne? I know rents are expensive too- may be over £15000 a year if you don't want to share so the money may run out
My brother in law sold his bungalow for £225,000 and now rents. He has a new car, and financial security. He can move whenever he wants, with applicable notice of course.
Yes. you can get mortgages in your 70s even 80s but you'd need plenty of equity and some reasobnable pension income, so a basic state pension alone may not be enough I think
Would you not consider buying a stairlift Seanne, then you can stay in your home ?
The cost of renting is high and would soon eat into your savings. I would look for a place within budget.
Question Author
H I that is not an option.
Ok x
Question Author
Wrong area BB
Have a look at some of Anchor's properties in other areas. You can find them from this website.
Question Author
Bb none in the area I want but thanks x
Try this Company, you can go from independant living right through to needing care.
https://www.abbeyfield.com/retirement-properties/
Have a look at this tool.
Ask the council what they may be able to offer.
Google retirement villages.
Look at this option:
https://homeshareuk.org/
Question Author
Thanks but not in my area
This is the tool I thought I'd included
https://hoop.eac.org.uk/hoop/start.aspx
Question Author
FF coming up as denied access

1 to 20 of 29rss feed

1 2 Next Last

Do you know the answer?

Property Advice

Answer Question >>