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Help parents of pension age with house/mortgage they can't afford - what options can we consider?

ERPY85 · 2023-04-19 08:20:02

Hi everyone, I hope this is the right forum to post this in. In short my parents find themselves of Pension Age, and with more outgoing than incoming. They have around £54k left on their mortgage, the house is worth around £260k (very approximate). Me and my sister both rent, and are both trying to save for a deposit to…

Comments

joshiesaunt Posts: 130 Forumite

20 April 2023 at 6:58PM

Sheltered housing retirement homes can be cheap to buy but you have to be careful of the lease (number of years left) and ensure the service charges are affordable. Depending on where in the country they are, these can be had for as little as £60k

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