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Is there a way I can move house at my age?

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  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
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    Or even a first floor flat with a lift.

    There are some shared ownership properties aimed at people 55 and over around my way where you buy up to 75% with cash and rent the other 25% from the local housing association at quite reasonable rates of rent.

    I would be speaking with the local housing association.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Davesnave
    Davesnave Posts: 34,741 Forumite
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    missbiggles1 wrote: »
    Everybody get more infirm at some point.
    Yes, but many want to avoid the retirement flat route at the relatively young age of 60 if they are in reasonable health. It's a fair question.

    Indeed, going down that route and continuing to teach beyond 60 may be two of the best ways to age quickly, but for different reasons!

    However, 'more infirm' suggests an existing condition of some kind.
  • moneyistooshorttomention
    moneyistooshorttomention Posts: 17,940 Forumite
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    You've not been reading about those peasants from former Soviet republics chasing goats up the mountainside in their 90s then? Or Helen and Scott Nearing ("Good Life" pioneers). As I recall - Scott Nearing got to around 100 before he decided "enough's enough" on the grounds that he was "slowing down a little bit and couldnt chop quite as much wood as usual".:rotfl:She was seen literally skipping down the road at a very advanced age too.

    Good role models I think....that age does not inevitably mean "increasing infirmity". Some people get unlucky. Others dont. On that note - time to get out and start heaving things round the garden again...
  • agrinnall
    agrinnall Posts: 23,344 Forumite
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    HappyMJ wrote: »
    Or even a first floor flat with a lift.

    There are some shared ownership properties aimed at people 55 and over around my way where you buy up to 75% with cash and rent the other 25% from the local housing association at quite reasonable rates of rent.

    I would be speaking with the local housing association.

    But many properties of this type would either not allow a dog or would be unsuitable for a dog, so I think the OP would be lucky to find somewhere that fits the bill. Although of course asking would be a good plan to start with.
  • tlc678910
    tlc678910 Posts: 982 Forumite
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    Hi, I agree that shared ownership is worth a look. The government website says that if you are over 55 years you can buy up to 75% with the older person shared ownership scheme and then don't have to pay rent on the rest.
    https://www.gov.uk/affordable-home-ownership-schemes/shared-ownership-scheme
    There is a link at the bottom of the page to find the agents in your area.
    Tlc
  • andrewmp
    andrewmp Posts: 1,754 Forumite
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    tugrin wrote: »
    Thank you for replying. The house is.worth about £157000 and I still owe £68000 on a mortgage that has 8 years to run. I was.wondering about porting?

    Curious, how do you end up owing that much on a house worth £157k with 8 years left on your term?

    Did you do a shorter term mortgage, or did you equity release following HPI?
  • bouicca21
    bouicca21 Posts: 6,516 Forumite
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    A place with a loo on the same floor as the bedroom was one of my criteria for a new place too. I've ended up with a ground floor flat with direct access to a private bit of garden and beyond that to a huge communal garden that I like to pretend is mine. My lease also allows me to have a 'small' dog. Some leases don't permit pets so you'd need to check that up front.

    I don't see why you shouldn't be able to port the mortgage, though I'd be worried about having such a large amount to pay off. Presumably it will swallow the lump sum at pension age? I'd be approaching lenders and/or a broker.
  • TBagpuss
    TBagpuss Posts: 11,204 Forumite
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    Speak to a broker. On the figures you give, you are not looking to borrow any extra money, so the issue is whether you would pass affordability checks and whether you have a viable vehicle for repying your mortgage.

    What is your palnned reitement age? Do you know what size lump sum you are likely to be able to draw from your pension when you retire, or what your income may be at that time, to look at affordability?
    All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    missbiggles1 wrote: »
    Everybody get more infirm at some point.
    Not necessarily.

    Many older people remain perfectly healthy and active right up until they kick the bucket suddenly, often well into their 80s.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
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    tugrin wrote: »
    I need an attached garden so Im not stumbling my way down a gravel drive any more in the dark come winter time.
    It's not going to be the end of the world to get some lighting sorted in the garden.
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