View more on these topics

Govt to encourage pensioners to downsize to ease housing supply

Pensioners will be encouraged to downsize in order to free up some of the nation’s housing stock, allowing councils to rent out the properties to families.


Housing minister Grant Shapps says councils should offer help to pensioners to move into smaller properties and free up accommodation for families to help address the nation’s housing shortage.

As part of the plans, councils would be responsible for maintaining and renting the properties, at affordable rates, and would transfer any profit from the rent back to the owner.

Shapps told The Telegraph: “For too long the housing needs of the elderly have been neglected. Older people who should be enjoying their homes have watched helplessly as their properties have become prisons and many have been forced to sell their homes and move into residential care.

“With nearly a fifth of our population expected to be over 65 by 2020, radical and urgent change is needed to ensure the nation’s housing needs are met. They can live independently for longer and enjoy more disposable income without selling their home, and other families can benefit from living in an affordable home.”


December valuations buck trend

The number of mortgage valuations held up well in December, recording a fall that was less pronounced than is usual for this time of year. The latest housing market activity report from Connells Survey and Valuation shows the number of valuations in December fell by 14% compared with November, less than the average drop of […]

Pet peeves

Brokers and lenders are locked in a marriage that is mostly happy, but what are the bad habits of lenders that drive intermediaries to distraction? We reveal brokers’ greatest bugbears

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Mark C 18th January 2012 at 12:43 pm

    And the next morning they woke with a stinking hangover and some vague notes on the back of a fag packet!

  • Grey Haired Underwriter 18th January 2012 at 11:46 am

    Does Grant Shapps suffer from diminishing brain capacity because each one of his pronouncements seems more ludicrous than the last.

  • Jools 17th January 2012 at 5:49 pm

    Ok, so this is for homeowners, right?
    The council rent the house out for the elderly pensioner – and the pensioner lives where? using what money? If the council isn’t buying the house off the individual where does the money come from to buy their next residence? A let to buy mortgage for a first time landlord who possibly hasn’t had a mortgage for many years and is renting out via the council to DSS tenants!
    Good luck placing that one.
    …….and how is owned but let property treated regards to care home fees later?

    Lots of joined up thinking there, tremendous

  • Luke Atkinson 17th January 2012 at 4:32 pm

    Perhaps Shapps should concentrate on the thousands of vacant and boarded up properties in the Uk first?