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SHIP knocks downsizing scheme mooted for pensioners

Safe Home Income Plans has cast doubt on housing minister Grant Shapps’ plans to encourage pensioners to downsize to free up housing stock.

In an interview with The Telegraph last week, the housing minister suggested councils should help pensioners move into smaller properties to free up accommodation for families. Councils would also be responsible for maintaining and renting the properties at affordable rates. They would transfer any profits from the rent back to the owner.

But Andrea Rozario, director- general of SHIP, says there is likely to be a huge cost attached to such a scheme.

She says: “The government has made it clear that no-one will be forced to take part in the scheme so it does beg the question of how many older people will choose to leave their family homes, with which they are likely to have emotional ties, and move into a smaller property – potentially away from family and friends.”

She says older people may want to consider downsizing, but on their own terms.


Y3S Group subsidiary in administration

Y3S Group has placed one of its subsidiaries, BMB Financial Limited, into administration, leaving behind liabilities of £191,418.

John Malone will head PMS for two more years to help ride out recession

John Malone, chairman of PMS, has extended his contract with the company until December 2013. Malone’s contract was due to expire in December 2012, but he will now stay on for a further 12 months. He revealed his decision at PMS’ 15th anniversary celebration in London last Wednesday. Malone tells Mortgage Strategy: “I’m enjoying working […]

Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]


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