It's as if the Financial Conduct Authority hasn't considered that pensioners have minds of their own and those that would like to downsize haven't thought about it already or even acted accordingly. I'm sure that there are old folk all over the country who, on reading the dictat, sat up and were amazed that they hadn't thought of that first!
---------- Post added at 18:16 ---------- Previous post was at 18:13 ----------
Quote:
Originally Posted by v0id
I think the shortage of houses for first time buyers is more to do with the buy to let crowd than it is the elderly in oversized homes.
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A first time buyer can always get one over on a buy to let buyer because the btl buyer has to make a profit on the property and the margins are already fairly slim. A btl buyer is looking to get a property under value whereas a 'normal' buyer can bid a smidge more and secure the property from under the btl's nose.