Shortage of suitable homes scuppers downsizing plans

Once their offspring have left home, parents can often find the family house is too big for their needs and expensive to maintain. That’s why, as retirement approaches, many people think about downsizing, and moving to a smaller, easier-to-manage home that’s cheaper to run. However, it seems that suitable properties might not be that easy … Continue reading “Shortage of suitable homes scuppers downsizing plans”

Do you have the mortgage of Damocles?

Some borrowers are living with a sword hanging over their heads: a mortgage they have little or no hope of repaying. One possible answer is the “lifetime mortgage” – but it’s hardly ideal. What is an interest-only mortgage?  It’s one where only the interest is paid off each month, so the full amount must be repaid … Continue reading “Do you have the mortgage of Damocles?”