Pensioners-expected-to-downsize-to-pay-care-bills

Could you be expected to downsize in order to pay your care bills in later life?

Shocking comments made by Prime Minister Teresa May’s director of policy, John Godfrey, have suggested that home owners may be expected to downsize their property in order to pay costly care bills in later life.

The comments, which were reportedly made to an independent commission last year, have shaken the older community. Neil Duncan-Jordan, from the National Pensioners’ Convention, commented: “This plan is not going to address the crisis in social care.

“Why should someone with dementia have to be means tested and sell their home to fund themselves, while cancer sufferers get their care funded by all of us? We should no longer have this artificial divide between illnesses.

“If this is seen as the answer, it shows the government has run out of ideas.”

According to recent research, around one in ten people end up paying more than £100,000 in care costs in older age, with around 40,000 people having to sell their home to pay large care bills.

Mr Godfrey identifies, however, that in order to enable a greater number of older homeowners to downsize, more must be done to provide suitable properties.

“As far as downshifting is concerned, you move into another area of policy altogether, which is the need to build more housing to give people a choice of the right sort of home.”

Commenting on the story, Patrick Chambers from Quick Move Properties, said: “As a company we work with a lot of home owners who are choosing to downsize a large family property in order to release equity and move to a more manageable property in retirement, but the idea of forcing people to downsize in order to pay for their care is just unthinkable.

“My hope would be that John Godfrey would take stock of the reaction the comments have received and encourage the government to think of alternative answers to the care crisis.”

Best-UK-seaside-locations-for-your-holiday-home

Best UK seaside locations for your holiday home

If Brexit has got you feeling nervous about buying a holiday home abroad, or the drop in interest rates have started you thinking about alternative places to invest your money, a UK holiday home could be the perfect solution. We’ve put together our top ten British holiday hotspots for your consideration.

Dorset: More accessible than its popular neighbour, Cornwall, for most people, Dorset can be reached via several main motorway routes and is just a 2 hour train ride from central London. The area has seen a significant spike in popularity after its breath-taking views features heavily in television’s Broadchurch, Wolf Hall and Harbour Lives. Popular draws to the area include the World Heritage Jurassic Coast and the areas stunning beaches.

Cornwall: Cornwall is the UK’s no.1 holiday destination, which means it offers huge potential, both as a the location for a holiday home for personal use and as a business investment. Iconic areas include the Padstow, Rock and St Ives, but if your budget wont stretch quite that far, Bodmin, Camborne, Falmouth and Redruth offer more affordable alternatives that are still popular destinations.

Suffolk: The Suffolk coast may not be your first thought when it comes to UK holiday destinations, but it has a lot to offer with less crowding that some of the south coast resorts. Aldeburgh, Felixstowe, Halesworth and Saxmundham are all popular destinations. The Suffolk Coast & Heaths Areas of Outstanding Natural Beauty offers 155 miles of unspoilt landscapes that all ages will enjoy, and the area’s pretty towns and villages also offer somewhat of a hub for the arts, with a busy musical and theatrical programme of events throughout the year.

Kent: Kent’s 350 miles of coastline offer sunny beaches, an exciting array of watersports and the most famous white cliffs in the world. The area boasts 11 Blue Flag beaches and an increasing number of impressive eateries, with several top chefs being drawn to the coastline.

Essex: Offering the longest shoreline of any county in England, Essex’s coast features saltmarshes, tidal inlets, estuary islands and breath-taking natural habitats. The area’s rich maritime history, award-winning beaches and traditional piers make Essex a great option for anyone considering buying a UK holiday home.

Hampshire: With the impressive Solent coastline, country parks and beautiful nature reserves, Hampshire has something to offer everyone. The area’s stunning beaches are obviously a big draw to the area (and feature in the Good Beach Guide), but Hampshire has so much more to offer, including Hurst Castle, offering dramatic views of the Solent, Fort Nelson, overlooking Portsmouth Harbour and Portchester Castle, and Chichester Harbour, an Area of Outstanding Natural Beauty.

Somerset: Weston-super-Mare, Burnham, Brean and Minehead are all popular beach resorts in Somerset, but the area also has a number of pretty harbour villages and great marinas, including Portishead, Watchet and Porlock Weir. Somerset features 3 Areas of Outstanding Natural Beauty and Exmoor National Park, so there’s no shortage of beautiful backdrops for your holiday.

Isle of Wight: Named the Dinosaur Capital of Great Britain, the Isle of Wight is a great holiday destination with anyone with an interest in history (or anyone keen to go dinosaur hunting!). The island offers guided fossil walks that are popular with tourists and complement the area’s other dinosaur-themed activities. The island is set up as the perfect holiday destination, and features the highest number of award-winning beaches in England. Visitors can take a ride on the famous Needles chair lift, enjoy watching craftsmen making a variety of beautiful pieces at Alum Bay Glass’s glass blowing centre, and if they have a sweet tooth they can even visit the IW Sweet Factory and sample sweets that are not available anywhere else. Other key attractions include the Isle of Wight Zoo, Robin Hill Adventure Park & Gardens, and the island’s steam railway. The island’s beautiful natural scenery offers the perfect backdrop for watersports and other outdoor activities, and was recently named as one of Lonely Planet’s “Top 10 Cycling Destinations in the World”.

Scarborough: As Britain’s oldest seaside resort, Scarborough offers award winning sandy beaches, dramatic cliffs and a historic harbour. Its beaches range from the popular and busy South Bay Beach and North Bay Beach – Scarborough’s Blue Flag beach, to hidden gems like Cornelian Bay. The area has a rich fishing history, which is still present at the harbour, though it has declined in recent years, and is the east coast’s most popular surfing hotspot. Scarborough is a fantastic option for those looking for a holiday destination further north.

Wales: Home to 3 National Parks (Snowdonia, Pemborkeshire and the Brecon Beacons) and 5 Areas of Outstanding Natural Beauty, Wales offers some stunning scenery for a UK holiday. You’ll also find a wide range of festivals throughout the year that attract large audiences, including the Festival of Literature at Hay, the Green Man Festival, Wakestock and Laugharne, as well as the traditional Eisteddfods celebrating all things Welsh. Areas that are particularly popular as holiday home destinations include Gower, Pembrokeshire, Anglesey and Llandudno.

If you’re considering purchasing a UK holiday home and have an existing property to sell, Quick Move Properties part exchange service could help make your move smooth, simple and stress-free. For more information about how Quick Move Properties could help you, call now on: 01793 840917 or email px@quickmoveproperties.co.uk

Property-is-main-source-of-wealth-for-many-older-people

Property is main source of wealth for many older people

Those aged 55-plus have more wealth tied up in their property than in their pension savings, a study by a retirement finance specialist has revealed. The study suggests that 58 percent of over 55s estimate their mortgage-free home to be worth more than their pension, and if they have a partner, more than their and their partner’s pension pots combined.

Property wealth is not a new phenomenon, but with less young people paying into a pension pot and an estimated 60 percent of Brits having less than £1,000 in savings, it seems we’re keen to put all of our eggs in one property-shaped basket.

Investing in property means you’re paying into a pot that you can access, if required, by remortgaging or selling your property, and your payments will decrease as the mortgage gets paid off. Eventually you’ll be left mortgage free with a significant amount of wealth tied up in your property.

But what if you’re struggling to clear the mortgage before you retire?

It’s estimated that 64% of the population own the property they live in, and this figure rises to 74% of the population for those aged 65-plus, but with a growing trend to take out 30-plus year mortgages, experts suggest that more and more homeowners will still be making mortgage repayments long into their retirement. According to the Council of Mortgage Lenders, nearly one in three first-time buyers now borrow for longer than 25 years; an increase of more than 30 percent in just four years, and it seems that householders are prepared for this statistic, with 20 percent of people saying they expect to still be paying off a mortgage when they’re retired.

According to Barclays, £17,500 is the ideal retirement income if you want to maintain a good lifestyle, be debt-free, run a car and take a two-week holiday abroad every year. In order to maintain an annual retirement income of £17,500 you would need a pension pot of approximately £350,000, based on current calculations. With many facing a pension shortfall, working later in life and heavily budgeting in retirement are two very real prospects facing many workers, others are choosing to access the finance tied up in their property and downsizing to become mortgage free or to use the equity to bolster existing pension pots and savings accounts.

Quick Move Properties’ sales director, Patrick Chambers, comments: “With many hardworking people struggling to be able to afford to put a huge amount of money into pensions or savings, it’s no surprise that for most homeowners their property is their greatest source of wealth.

“As people approach retirement they may begin to feel concerned about how they’ll afford to make mortgage repayments if they’ve not managed to repay their mortgage in full before they retire.

“Downsizing is a great way to access the finance tied up in your property, either to pay off your remaining mortgage or to help subsidise existing pensions or savings.

“It’s estimated that one in three retired homeowners would like to downsize, but many get put off by the idea of having to sell a property and manage a house move, especially if they’ve lived in the same property for many years. Quick Move Properties’ Part Exchange and Assisted Move services prove especially popular in these circumstances. We can buy your existing property from you directly, or help you find a buyer for the property, and then secure your onward move for you and coordinate all of the timings to facilitate a perfectly smooth move.”

When a medical condition forced Mr Deacon to take early retirement he was keen to downsize and pay off his mortgage. Mr Deacon explains: “We were attracted to the idea of property part exchange because of the security it offers; you don’t have to line everything up as you would with a normal sale and purchase and there is less risk attached to the process as well, for example we knew our buyer was not going to drop out last minute…for us the whole process was stress-free.”

If you’d like to access the money tied up in your property, and would like to find out how Quick Move Properties could help you, call their friendly, professional team on: 01793 840917 or www.quickmoveproperties.co.uk

Number-of-older-homeowners-set-to-grow-by-155

Number of older homeowners set to grow by 155,000 per year

According to a report released by the Department for Communities and Local Government (DCLG), the number of older homeowners – those aged 65-plus – is likely to grow by 155,000 per year.  The report also predicted that older people will account for 74 per cent of total household growth up to 2039.

It has been widely reported for some time now that Britain is seeing a rapid growth in its older population and that the housing market is struggling to adequately cater for their needs.

Recent research has suggested that around one third of homeowners over the age of 55 would like to downsize but a lack of suitable properties and the cost of moving put them off.

There are many benefits to downsizing, which homeowners are keenly aware of.  Many commentators assume that the main motivation for downsizing will be the release of equity tied up in the property, but this seems not to be the case. In a recent YouGov survey, would-be downsizers revealed their motivation for downsizing:

Reason for downsizing

1Reduce property maintenance
2Reduce household bills
3Children have/will have left home
4Health reasons
5Release equity
6Death of partner/family death

The most common reason for wanting to downsize was the desire to reduce the amount of property maintenance and upkeep required.  This was followed by wanting to reduce the cost of bills, wanting to move to a smaller property after the children have left home and health reasons.  A desire to release the money tied up in their property came in at number five, followed by wanting to move to a smaller property after the death of a partner or family member.

Of those that do release a significant amount of equity upon downsizing, few are squandering the money on frivolities.  The number one use of equity released by downsizing is to bolster savings, followed closely by using the cash to boost an existing pension.  The third most popular use of released finance is to pay for the cost of day-to-day living, with fourth being to gift the money to family members.  Reducing any residual debt and big ticket items such as new cars and nice holidays come right at the bottom of the list.

How homeowners spend released equity

1Savings
2Pensions
3Day-to-day living costs
4Family members
5Reduce debt
6Car/holiday

Quick Move Properties’ sales director Patrick Chamber commented: “The UK property industry needs to get much better at providing for housing needs right across the spectrum of property owners.  The benefits of downsizing are clear and there is certainly plenty of demand from homeowners.  There has been significant investment at the lower end of the market in recent years, with Help to Buy and shared equity schemes, but more needs to be done to provide for those at the other end of the market, providing attractive and desirable smaller properties.  Older homeowners, like every other would-be homeowner, don’t want to move because they feel they have to, they want to move because they fall in love with a property that meets their needs.  Downsizing should not feel like downgrading.”

If you like the idea of downsizing, but the hassle of selling your property on the open market is putting you off, Quick Move Properties’ Part Exchange and Assisted Move services could make your move quick, easy and completely hassle-free.  For more information about how Quick Move Properties could help you, contact their friendly, professional team on: 01793 840917 or email px@quickmoveproperties.co.uk

Growing-number-of-house-sales-collapsing

Growing number of house sales collapsing

The number of house sales falling through before completion is on the rise, according to figures from Quick Move Now.

According to the figures, which were released today, 29 percent of property sales break down before completion.

Patrick Chambers, Quick Move Properties’ sales director, commented: “Having a property sale fall through is devastating and hugely costly, both in terms of time and money.

“It’s not hugely surprising that the figures show an increase in the number of sales that are failing to reach completion, as the last few months have brought significant disruption to the property market. Investors are having to contend with increased stamp duty and other tougher measures, and residential sellers and buyers are having to deal with the uncertainty and fallout surrounding Brexit.

“If you’re keen to sell your property and are worried about the growing fall through rate, property part exchange is a great option. Not only will part exchange offer you a stress-free, guaranteed purchase of your existing property, it also ties up your onward move with a secure purchase.”

Mrs Cant recently used Quick Move Properties’ services after the sale of her property fell through three times and she feared losing the purchase of her new retirement apartment.

Mrs Cant explains: “Emotionally it nearly broke me, and financially the three sales that fell through cost me a lot of ‘lost’ money. I first made an offer on the apartment last April, but because I was struggling to sell my property the apartment had gone back on the market and was receiving interest from other buyers.

“The service I received from Quick Move Properties was second to none. I have never experienced anything like this before and the members of staff were kind, empathetic, but above all very professional, ensuring a positive outcome. I would, and have recommended Quick Move Properties – they even offered me a two-week licence to occupy, allowing me to stay in my old property while had my new apartment decorated ready for me to move in. I cannot speak highly enough of a company that saves heartbreak and financial loss, but above all, enables you to secure your forever home.”

For more information about how Quick Move Properties could help you avoid the dangers of property sale fall through and secure your new home, contact their friendly, professional team on: 01793 840917 or visit: www.quickmoveproperties.co.uk

What-does-Brexit-mean-for-the-leisure-home-industry

What does Brexit mean for the leisure home industry?

Many in the UK are still in shock at the outcome of last week’s EU referendum. Even those fervently campaigning to leave the EU were taken by surprise when the results started coming in. Now that the dust is starting to settle and the reality of the situation is beginning to sink in, we’re looking ahead to what the unexpected results could mean for the UK leisure home industry.

Experts seem to be in agreement that there are many ways in which the vote to leave is likely to make life in the UK more challenging, certainly in the short term. The pound has already weakened considerably, and there are growing fears of rises in unemployment and the cost of fuel and goods. But, it seems Brexit could provide new opportunities for the UK leisure home industry.

UK ‘staycations’ have already seen a rise in popularity in recent years – according to a national newspaper 72 per cent of British holidaymakers chose to stay in the UK in 2015. With the weakening of the pound and the resulting damage to exchange rates, UK holidays have become an even more attractive prospect, both for UK residents and our European neighbours. This offers leisure home owners, who run holiday lets, a great opportunity to grow their business and reach a new market.

With this in mind, the purchase of a UK leisure home is also likely to be an increasingly attractive prospect, both as an investment and for personal use. This could be great news for leisure home manufacturers and leisure park operators.

Ultimately, the times ahead are largely unknown and it is difficult for anyone to make certain statements about what lies ahead, but now that we know the outcome of the referendum it is up to us, as an industry to look for opportunities among the challenges.

House keys

Property part exchange offers a better solution

If you’ve ever spoken to a housing developer about their property part exchange service, you’ll be aware that most are only able to offer the service to customers ‘upgrading’ to a significantly more expensive property than the one they’re hoping to trade in. So, what about if you’re hoping to ‘downsize’ to a smaller or less expensive property? And what if you’re hoping to buy an older property?

That’s where an independent property part exchange company may be able to help.

Quick Move Properties; the UK’s largest, independent property part exchange company, has helped more than 5,000 people with their onward move since the company was established in 1998. Unlike developers’ in-house part exchange services, Quick Move Properties are able to consider any bricks and mortar property in England and Wales, regardless of whether you’re planning to upgrade or downsize.

Quick Move Properties’ sales director, Patrick Chambers, explains: “Our independent part exchange service allows our customers to benefit from all of the advantages of part exchange, but does not restrict them to buying a new build home. Customers have the certainty and security of a guaranteed sale, in a timescale to suit them, with no danger of the sale falling through or the price or timescales changing at the last minute. What’s more, because we offer an independent service, if our customers are buying new build properties, they are free to benefit from the other deals offered by new build developers that would not be available if the customer was also using the developer’s part exchange offer.

“Part exchange removes all of the stress from moving house. You’ll have no house viewings to arrange, no estate agent negotiations to handle and none of the uncertainty that comes hand-in-hand with trying to sell a property on the open market.

“Because we’re an independent company we have significantly fewer restrictions than a developer’s part exchange service and are happy to consider any bricks and mortar property. In the past we’ve purchased flats, bungalows, terraced, semi-detached and detached properties, long leasehold and ex-authority housing. It also doesn’t matter how much your property is worth – we’ve previously purchase properties for as little as £20,000 and as much as £1 million.”

For more information about how Quick Move Properties’ part exchange service could help to make your move smooth, simple and stress-free, call their friendly, professional team now on: 01793 840917 or visit: www.quickmoveproperties.co.uk

Happy retired couple

What are my housing options when I retire?

If you’re approaching retirement, you may have started thinking about your property options. For many people, retirement is a time to take stock, review and plan for the future; some will be considering how their current property will cater to their changing needs as they get older, while other will use retiring as an opportunity for a new adventure, now that they’re not tied down with work.

Move abroad

If you’re one of the many retirees that like the idea of traveling in their retirement, moving abroad for a period of time, or even for good, can be a great adventure. A recent study by MGM Advantage suggested that as many as 26% of Brits plan to retire to Spain, with France, America and Australia also proving popular retirement destinations. If you’re not convinced that you’ll want to stay in your chosen destination long-term, you could choose to keep a base in the UK and simply downsize your existing property to something more manageable. You could then choose to rent out the new property to generate additional income, or leave it vacant if you’re planning to come and go fairly regularly.

Consider a houseboat adventure

This growing trend among would-be homeowners of all ages is one that you might not expect to see in an article about retirement housing options, but with an estimated 33,000 people now owning a houseboat on Britain’s rivers and canals – an increase of nine per cent in just a year – it’s something that many more retirees are considering. The trend first became popular in London as a way to combat rapidly rising house prices and rents but is quickly becoming a lifestyle choice that is spreading around the country.

Downsize

If you have retirement plans that could benefit from a bit of extra cash, or you worry that your current property will seem too big or unmanageable as you get older, downsizing could be a great option. Whether you choose to put the money released into your pension, pay off your remaining mortgage, invest it, or spend it on some big ticket items or experiences, downsizing will not only release equity, it will also enable you to move to a smaller, manageable property that will free up time and energy to spend on the things you love doing.

Retirement property

If you want to stick with a ‘bricks and mortar’ property, but like the idea of living in a retirement community with a range of additional services available as and when you need them, a retirement property could be the right route for you.

Retirement properties come in different forms; from traditional sheltered accommodation and warden-monitored bungalows right up to luxury retirement complexes complete with spas, swimming pools and wellness centres. If you’re considering a retirement property, be realistic about what sort of budget you have available (taking into account ongoing service and maintenance charges) and research all available options thoroughly.

Residential park homes

Park homes have had something of a makeover in recent years. Now available in prime locations, with high-end interiors and spacious accommodation, park homes offer many of the benefits of living in a retirement community, but often at a more affordable price. Pre-owned park homes may also offer an even more pocket-friendly option if you’re on a limited budget.

If you’ve got an existing property to sell in order to make your dream retirement move, but would like to avoid the hassle and uncertainty of selling on the open market, property part exchange could provide you a quick, stress-free and guaranteed house sale. Quick Move Properties is the UK’s largest, independent property part exchange company, having helped more than 5,500 people with their onward move since 1998. For more information about how property part exchange could help you achieve your retirement dreams, call Quick Move Properties’ friendly and professional team on: 01793 840917 or visit: www.quickmoveproperties.co.uk

NCC logo

Quick Move Properties awarded industry body membership

Quick Move Properties is delighted to announce that it has been awarded membership of The NCC; the UK trade body for the tourer, motorhome, holiday home and park home industries.

The NCC, which aims to set professional standards and encourage best practice, has certain standards that a company must meet in order to be awarded membership, and being part of the professional organisation reassures customers that they are dealing with a reputable company that offers the very best customer service.

The sales director at Quick Move Properties commented: “We’re delighted with our NCC membership and what it means for our customers.

“We’ve always taken great pride in the high level of service we offer, and our new membership of the NCC supports that further. Customers needn’t just take our word for it that we offer a high level of service and customer care, they also have confirmation from an independent professional body.”

Mr Deacon, who recently part exchanged his property with Quick Move Properties, was delighted with the level of service he received from the company. Mr Deacon commented: “The team at Quick Move Properties were always polite and helpful and I always felt that they had our best interest at heart…we couldn’t have asked for more, and we are very, very happy with both the park and our new home.

“By working with Quick Move Properties we were able to get the park and the home we wanted, including the extras and adaptations we requested, within the budget we had. For us, the whole process was stress-free.”

As the UK’s largest, independent property part exchange company, Quick Move Properties has helped more than 5,500 homeowners with their onward move since the company began in 1998. Not reliant on investors or mortgages, Quick Move Properties use their own cash funds to provide a quick, guaranteed and stress-free sale.

Happy retired couple

Top UK destinations to retire to

If you’re approaching retirement and considering a change of scenery, this list of popular UK retirement destinations is just what you need.

1. Christchurch, Dorset

Christchurch’s beaches, harbour and historic buildings make the town a popular tourist destination, and many find the area so charming that they decide to retire there. It is estimated that just under 30% of the population of Christchurch is aged 65-plus. Christchurch is very proud of its traditions and history; the town held its first weekly market in 1149 and has held an annual regatta every year since 1909, which includes rowing competitions on the River Stout.

2. West Somerset

According to the Office of National Statistics, in 2009 the population of West Somerset had an average age of 52, and the area is always a popular choice for a retirement destination. Beautiful architecture and idyllic scenery are an undeniable draw, as are the areas good transport links and easy access to both countryside and the coast.

3. North Norfolk

Picturesque cottages, quaint fishing villages and sweeping beaches make North Norfolk a popular relocation destination for people of retirement age. It is estimated that 28.8% of the population of North Norfolk is currently retired.

4. Rother, East Sussex

The area of Rother is named after the River Rother, which runs through the district, and includes Bexhill, Battle and Rye. The area’s recreational facilities, historic towns and stunning beaches are hugely popular with those aged 65-plus.

5. East Devon

A large amount of East Devon falls into one of two Areas of Outstanding Natural Beauty; East Devon and Blackdown Hills, which undoubtedly adds to its appeal as a retirement destination. The areas named as Areas of Outstanding Natural Beauty have the same level of protection as National Parks, and as a result new developments are heavily restricted, reassuring residents that the area’s attractive qualities are there to stay.

6. East Dorset

Home to a number of historic market towns, East Dorset is an idyllic destination for retirement. Close to the New Forest National Park, and with easy access to the coast, East Dorset offers the best of both worlds to those who appreciate natural scenery.

7. Tendring, Essex

Including the towns of Clacton-on-Sea, Frinton-on-Sea, Walton-on-the-Naze, Brightlingsea and Harwich, the district of Tendring is a typical, coastal retirement destination, with a relaxed pace of life.

8. West Dorset

A fairly rural area, West Dorset has limited work opportunities for young professionals, and as such has become a retirement haven. In 2006 the district was named the 10th best place to live in the UK. The area offers a vast amount of natural beauty and several places of historic interest. It is estimated at 26.5% of the population is retired.

9. Arun, West Sussex

Attracted to the South Downs in the north of the area and the beaches of Bognor Regis and Littlehampton in the south, Arun in West Sussex is ever-popular with those aged 65-plus.

10. East Lindsey, Lincolnshire

The fifth-largest district in England, East Lindsey is home to endless beaches, beach huts and beautiful properties. If you’re looking for a costal retirement destination with an active tourism industry, East Lindsey has a lot to offer.

If you’re considering relocating for your retirement, Quick Move Properties could make your move quick, smooth and hassle-free by part exchanging your current property. Traditionally a service that was only available through new build property developers when buying a property considerably more expensive than the property you’re planning to sell, Quick Move Properties – the UK’s largest independent property part exchange provider – offers property part exchange in any circumstances. Whether you’re upsizing, downsizing, buying a new build, moving to a retirement property, moving to a residential park home or even a boat, Quick Move Properties could help make your move stress-free.

For more information about how Quick Move Properties could help you make your move, contact the friendly, professional team on: 01793 840917 or visit: www.quickmoveproperties.co.uk