The government has been called upon to work with equity release providers to develop more appropriate schemes to enable older people to realise part of the capital in their homes.
The recommendation comes from the House of Commons Housing, Planning, Local Government and Regions Committee, which also says government plans to build 200,000 homes by 2016 may not be sufficient to keep pace with housing demand. Its latest report on affordability and the supply of housing also states given the current planning system, which it says is more likely to give weight to market considerations, there is a danger “environmental and social issues may be overlooked.” The report says a significant proportion of the extra homes built in some parts of the country could be bought up...
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