Older people forced to sell homes to pay for retirement, says survey | Money | guardian.co.uk
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 1,074 people had swapped home ownership for rental accommodation.
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