|Older people forced to sell homes to pay for retirement
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|Author:||Admin1 [ Mon Aug 08, 2011 10:31 am ]|
|Post subject:||Older people forced to sell homes to pay for retirement|
Tenancy specialist says rising cost of living and falling incomes mean more retired people are releasing the equity in their homes.
Falling pension incomes and the rising cost of living have led to a rise in the number of older people selling their homes and moving into rental properties in order to fund their retirement, according to latest research.
Tenant referencing specialist HomeLet said there had been a 16% increase in the – admittedly small number – of people aged between 66 and 70 who have sold their home and become tenants over the past 12 months. The firm said 205 people had swapped home ownership for rental accommodation. Read more
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