Pension Loans

Tag: Downsizing

  • The Great British Space Race: Over-65s Sitting on Millions of Spare Bedrooms

    New research from property giant Zoopla has shown that a significant portion of the UK’s older population is living in homes much larger than their current needs. This situation is presenting a unique challenge in the UK housing market, particularly affecting young families and first-time buyers who are struggling to find suitable homes. The Spare…

  • “Posh Renting” vs. Downsizing: What’s Best for Your Golden Years?

    Retirement is a time to enjoy the fruits of your lifelong labor. With the kids flown the nest and possibly a mortgage paid off, many retirees face a pivotal question: “What to do with the family home?” Traditionally, downsizing – selling the family home for a smaller, more manageable property – has been the go-to…

  • Save Your Pension Pot for Later: A Tax-Savvy Strategy for Your Golden Years

    Are you nearing retirement and wondering how to make the most of your savings and investments while minimizing the tax bite? Financial experts in the Daily Mail have a key piece of advice: hold onto your pension pot as long as possible and use your other assets first. This strategy can keep more of your…

  • Pension Payments Plummeting? How to Increase Income

    It’s a tough time for UK retirees. In the latest financial figures, retired couples have seen their weekly income after housing costs shrink to £349, a near 8% drop from £376 the previous year. This isn’t just a bad year—it’s part of a decade-long stagnation in pensioner income growth. Looking back to the ’90s, average…

  • Mortgage Market: Is It Fair on the Older Generation?

    The mortgage landscape has been through a whirlwind of changes recently. We’ve seen the chaos of the pandemic, the crunch of the cost-of-living crisis, the bite of high inflation, and the soar of interest rates. There’s been plenty of chatter about the impact on fresh-faced first-time buyers and the struggles of “second steppers” looking to…

  • State Pension and £34,000 Savings – Is It Enough?

    In the picturesque town of Henley-on-Thames, Oxfordshire, Sarah, a 62-year-old counsellor, finds herself at a financial crossroads as retirement looms on the horizon. With a state pension and £34,000 in savings, Sarah’s journey to a stress-free retirement is filled with questions and choices. She asked The Telegraph if her current investment strategy will allow her…

  • Stamp Duty Costs Stall Downsizing Moves

    In the golden years of life, many look forward to simplifying – swapping the family home for something snugger and more manageable. But for millions of British seniors, this dream of downsizing is being thwarted by a formidable financial hurdle: the daunting cost of moving, with stamp duty taking a considerable chunk of the blame.…

  • Pensioner Power – The Growth of “Later Life Lending”

    The way our elderly are viewing their homes and mortgages is changing, and property experts are sitting up and taking notice. The “later life lending” sector, focusing mostly on pensioners, is growing in importance in the UK property world. Here’s what the experts are saying and why it matters. The Pulse of Property Pros At…

  • Unlock Cash Without Equity Release

    If you’re a pensioner looking to raise money and considering equity release, hold that thought! There are alternative ways to get your hands on some extra cash. Lovemoney suggests five options you might not have considered. What’s Equity Release? Before we get into those enticing alternatives, let’s remind ourselves about equity release. It’s becoming increasingly…

  • Understanding Care Home Costs and Your Financial Options

    The cost of living in a care home in the UK has seen a sharp increase, leaving many families concerned about their financial futures. The Telegraph looked into the crucial details about care home expenses, available funding, and strategies to manage these rising costs without draining your savings. Soaring Costs in 2023: The Financial Burden…