Tag: Downsizing
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Retirement Downsizing: A Golden Opportunity?
In the golden years of your life, financial security becomes paramount. With an increasing number of UK pensioners contemplating downsizing their homes to boost their retirement funds, it’s crucial to pause and consider whether this trend is a smart choice or a potential pitfall. Pension Concerns Today, a significant portion of Britain’s workforce, particularly those…
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Can a Pensioner Get a Mortgage to Buy a House?
In an era where financial possibilities are ever-expanding, age is no longer a barrier to the ambitions of property ownership. This rings especially true for pensioners eyeing the real estate market, whether for relocation, investment, or simply a change of scenery. Upsizing in the Golden Years Imagine being 75, comfortably settled in your home on…
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The Rising Role of ‘Bank of Family’ in UK Housing Market
At least one in five parents in the UK are unlocking the wealth tied up in their homes to help young family members onto the property ladder, according to a recent research conducted by Legal & General. Unleashing Property Wealth: Parents Lending a Hand Dubbed the ‘Bank of Family’, this group holds a whopping £3.5…
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A Third of UK Homeowners May Still Have Mortgages After 65
A new study from financial services group LV= has revealed that around one-third of UK homeowners with mortgage loans expect to still be paying off their mortgages after they turn 65. This data comes from the LV= Wealth and Wellbeing Research Programme, which surveyed 4,000 UK adults. The findings also show that 10% of retirees…
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1 in 3 Parents Helping Stay-At-Home Adult Children By Using Pension Money, Costing £5,000 Annually
Adult children staying with their parents after they’ve grown is becoming more common. Over half of parents with adult children still have them living at home, costing nearly £5,000 per year on average. Why This is Happening: Young adults face financial pressure from high housing costs and student loans. This leads many to stay with…