PRICE REDUCED FOR THE OVER 60's UNDER A HOME FOR LIFE PLAN

DaftyDuck

I just sold a house a month back, in three days flat. There was a vaguely similar house 150 yards away. It was on the market five years ago, when I bought mine, and had been for two years. It has been on the market wit, to my certain knowledge, eight agents, and continually marketed since then to now. At the same price throughout. About three months ago, Ward's got their hands on it, and are selling it at the same price (500k) as always, or at £350k (from memory) as a "house for life".

It was, and remains, worth around the £395 - 425 mark. It will almost certainly not sell.... unless someone thinks they are getting a bargain at £350k. Which they are not.

PM link available to curious regulars...

(Oh, it's £334 for a lifetime deal now.... bargain!)

Edit: The fools are not even using a separate photo, so nobody will buy it at £500k, as they can't get it for 334k.... Lunacy, sheer lunacy. But, some mug will probably fall for it...

... and I do recognise that, in principle, there is nothing wrong with equity release....

Running_Horse

There are loads of houses listed this way near me, but very few seem to be typical retirement properties. It is a real pain when searching Rightmove to have to wade through loads of inaccurate prices to get to what you want. You would think they would let you filter them out of searches.

AdrianC

Mallotum_X wrote: »

The price reduction is for some type of lifetime lease. once the owners die the house reverts back to the company providing the finance.

Definitely going to be something like this. Or very high service charges. One way or another, you'll be paying.