How to fund a retirement property

For many people, selling their existing home is the simplest way to fund a retirement property. 

If you've owned your home for many years, it may have increased significantly in value. This means you could have built up enough equity to buy your property outright, while potentially leaving money left over to enjoy retirement, support loved ones or keep as a financial cushion. Moving to a property that's designed for later life can also reduce the time, money and effort spent maintaining a larger home. Read more about how retirement living can help you to cut the cost of living. 

Some people choose to use savings, investments or pension lump sums to help fund their move.

Depending on your circumstances, this could be used to:

• Buy a retirement property outright. 
• Reduce the amount you need to borrow. 
• Cover moving costs or legal fees. 
• Keep an emergency fund for peace of mind. 

Before making any decisions about using pensions or investments to fund a home, it's worth seeking independent financial advice. 

To make it simpler than ever for people to enjoy our lifestyle, we offer a range of occupancy options as well as buying outright. At selected properties you can choose the affordability of Shared Ownership – where you buy a percentage of the property lowering the price you pay – or the ease and speed of renting – which gives you the flexibility to try retirement out without the commitment and can also make budgeting easier. 

Learn more about our occupancy options

Many people assume mortgages are only available to younger buyers, but there are versions designed specifically for older borrowers. 

Depending on your circumstances, you may be able to access: 

• Later life mortgages. 
• Retirement Interest-Only (RIO) mortgages. 
• Standard mortgages with higher age limits. 
• Some people also consider lifetime mortgages (a type of equity release), although these aren't suitable for everyone. 

It's worth checking what financial support you're entitled to from the Government, as many people miss out on thousands of pound a year simply because they assume they won't qualify.

We’re the ONLY retirement living provider to offer free entitlements advice in house and have successful claimed over £5.5million for our customers since 2015. Talk to our team to learn more on 0800 201 4811 or read tips on how to unlock financial support from our Entitlements Manager.

Funding a retirement property is a significant decision, and everyone's circumstances are different. An independent financial adviser can help you understand:

• Which funding options are available. 
• Whether a mortgage is appropriate. 
• The tax implications of different choices.