Moneysaving -Move to static mobile home to release equity in home!!!!!!

thriftlady_2

My Gran (97) has lived in one of these for about 23 years.The site she's on is lovely,very nice people,nearly all retired and elderly.Her caravan is no where near as nice as the one in your link - looks gorgeous.

Me and OH have thought about living on a barge when he retires (another 20 odd years yet).No idea what that would cost,but assume it will be cheaper than bricks and mortar.

calleyw

This is something we are thinking about when we get older. I am only 33 now and Husband 43 so a little while to go yet.

And we have a local static park home. They are nothing like what I call caravans. But they are 2/3 bedrooms. And would be fine for us.

Each has a little garden and they look really nice.

But we shall see. You never know I might win the lottery and I don't need to worry. Yeah right :rotfl:

But do fancy a log cabin and they are not that expensive really. It is just the land that costs so much. And there are some companies that do log cabins that are sectional so that they can replace caravans so don't need planning permission.

Yours


Calley

Fairy22

Not sure if this will be of any use to you, but here goes... I work as a Mortgage Consultant for a high street bank (won't mention who !!). I see alot of older customers who want to release equity or take extra borrowing from the equity of their properties. One involves a further advance where you can extend for the term of the mortgage or longer with a set monthly payment (similar to a mortgage).
The other is a equity release scheme, more complicated as you need to involve any family who would inherit your estate, plus you pay heaps of interest back, however you don't pay anything to the lender until you die !
(nice I know, )
Anyway, thought this may be of some interest, it may mean you could keep your house on too if you wanted, or consider something like a little flat or apartment if it suits (although the statics are lovely, I'm looking forward to my holiday in Devon in one !)
Hope this is of some help x

fannyadams

what about this:
No Nursing Home for Me

About 2 years ago my wife and I were on a cruise through the western Mediterranean aboard one of the P&O liners.

At dinner we noticed an elderly lady sitting alone along the rail of the grand stairway in the main dining room. I also noticed that all the staff, ships officers, waiters, busboys, etc., all seemed very familiar with this lady.

I asked our waiter who the lady was, expecting to be told that she owned the line, but he said he only knew that she had been on board for the last four cruises, back-to-back.

As we left the dining room one evening I caught her eye and stopped to say hello. We chatted and I said, 'I understand you've been on this ship for the last four cruises." She replied, 'Yes, that's true." I stated, "I don't understand" and she replied, without a pause, 'It's cheaper than a nursing home."

So, there will be no nursing home in my future. When I get old and feeble, I am going to get on a P&O Cruise Ship. The average cost for a nursing home is £700.00 per week.

I checked on reservations with P&O Cruises and I can get a long term discount and a senior citizen discount price of £580.00 per week. That leaves £120.00 a week for:

1. Gratuities will be £10.00 per week.

2. I will have as many as 10 meals a day if I can waddle to the restaurant, or I can have room service (which means I can have breakfast-in-bed every day of the week).

3. P&O liners have as many as three swimming pools, a workout room, free washers and dryers, and shows every night.

4. They have free toothpaste and razors, and free soap and shampoo.

5. They will even treat you like a customer, not a patient. An extra £5 worth of tips will have the entire staff scrambling to help you.

6. I will get to meet new people every 7 or 14 days.


7. T.V. broken? Light bulb need changing? Need to have the mattress replaced? No Problem!

They will fix everything and apologise for your inconvenience.

8. Clean sheets and towels every day, and you don't even have to ask for them.

9. If you fall in the nursing home and break a hip you are on NHS; if you fall and break a hip on the P&O ship they will upgrade you to a suite for the rest of your life.

Now hold on for the best! Do you want to see South America, the Panama Canal, Tahiti, Australia, New Zealand, Asia, or name where you want to go?

P&O will have a ship ready to go. So I don't wait for relatives to come and take me out, so don't come looking for me in a nursing home, just call shore to ship.

ps: And don't forget, when you die, they just dump you over the side -- at no charge thus saving on funeral costs.

fred0114

Just joined, looking for advice on eq release, minefield, seems most advisors avoid explaining that you need to be pretty lucky to get a further 'loan' in say 10 years - anyone out there got experience of this?
Regards
Vin

bluenose1

Thanks Fannyadams that is a good idea, as long as you don't get sea sick.
Especially like the idea of being thrown over the side to save burial charges.;)

I know a few people have said they don't think a static caravan/mobile home would be warm enough in the winter. My friend and her husband lives in a 36' by 12' luxury caravan with Double glazing and Central Heating. She said they have no problems with keeping warm in winter as the central heating only has small area to heat so it is very cozy.

Thanks Fairy22 for advsie on equity release, though we are not doing this just for financial reasons as we could afford to carry on living in either our house or a bungalow etc. We are doing it because we think it will improve our quality of life. Smaller area to tidy/clean etc, close to coast so plenty of quality air and hopefully good social life with people in similar situation.

Don't think I would want to live abroad as I would feel isolated and miss my family too much.
Regards
Anne

Fairy22

Hi Fred, hopefully I can help a little, the equity release schemes are pretty complicated so make sure you speak to a specialist if your going through with it. Basically in most cases you ned to be over 55 - 60 and the release is either a capital lump sum or income. You don't pay it back as a loan, it comes from the equity proceeds when your estate is sold. You can take further loans at later stages, but this depends on the equity, your age etc.
I see alot of elderly people with no family looking to improve their Pensions etc with these, but bear in mind the interest is horrific, because it's over continious term. If you want to proceed you usually need to have about 4 apts and take in details of any income, benefit, bills, outgoings, and usually next of Kin are involved at some point.
If you have the income to support additional lending, a Home owners loan is another option, you do pay it back, but the interest isn't nearly so hefty, plus your equity remains in the house.
Hope this is of some help to you x

christie_3

Does anyone know how long a log cabin type holiday home can be expected to last? I am talking about a new or pretty new one....

BuddyBonthenet

Hi,

Hope no one minds me reviving this thread but it something we've been looking into recently and we're a bit stuck. We'd like to move permanently to a park home or large static but keep coming up against some problems. We would prefer an adults only park and it has to be open all year. The problem is we are both 46 and we have only been able to find parks for over 50/55s.

Does anyone know of any adults only parks that are open all year without the 'older people' age limits? Even a link to another site where we could post would be helpful.