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Wednesday, January 29, 2014

Let to retire

'Let to retire' -  is my attempt to coin a new phrase for a sub-section of the private residential lettings market.

'Let to retire' refers to an increasing number of over 65's who are looking to let out spare rooms in their homes to help make up for any shortfalls in their retirement income.

As a trend, it makes sense. Pension incomes have been hit hard. Woefully low interest rates, failed investments and the breaking of links to any index has seen many pensioners worse off than they might of hoped.

Expectations may have also changed, no longer are pensioners happy to spend their retirement in a wing-back chair, or pottering in the garden, many want to still get out there, go on holiday, hang out in coffee shops, go to gyms - do stuff and buy more stuff.

A recent survey by Morethan insurance reported as many as 1 in 7 pensioners would consider letting  rooms in their properties, that rate increases to 1 in 5 living in the capital.

With many older people increasingly asset rich but cash poor expect this trend to increase.

'Let to retire' - you heard it here first.

Read more in the Telegraph

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