Govt urged to make downsizing easier

The equity release specialist IFA wants the Government to make it easier for retired people to downsize their property to release equity, rather than turning to equity release schemes. IRS says downsizing should always be considered by over 65’s hoping to release equity from their home, but taxes such as stamp duty can make this harder for retired people. According to IRS, 56% of over 65s live in home with two or more spare rooms, which it says is also contributing to a lack of family homes available on the UK market. Daren Carter, managing director of In Retirement Services, says: “Ther...