Over 55 and thinking about a house move? Now is the perfect time!

We all know about incentives for First Time Buyers, but did you know what is available for so-called ‘Last Time Buyers’? Perhaps you have been considering downsizing or are thinking about releasing money to gift to family members. If you are, you are not alone.

Downsize, new home and equity release

Right now is a great time to sort out your finances and at Larkfleet we can help you to explore your options. If you are over 55, did you know you can buy a new build home with an Equity Release Mortgage? Yes, that is right – sell your old home, buy a brand-new home AND release equity. It is a good way to unlock the value of your new property and turn it into a cash lump sum.

Jason from Evolve Financial Services tells us “Interest rates are at an all-time low, so now is the perfect time to consider an Equity Release Mortgage on a new build home. It is becoming a more popular choice for many people downsizing to a smaller home. Grandparents and parents are choosing equity release for a more comfortable retirement or to help family members buy their first home. In turn, we’re seeing record numbers of First-Time Buyers take advantage of the Help to Buy scheme, it is a win-win for everyone.”

A home for the future

Last Time Buyers are growing in numbers – with many choosing new builds for a variety of reasons. A new build is a lot like having a new car, as they are relatively maintenance free and more energy efficient, so as well as reducing your carbon footprint, you can expect lower bills too. Depending on build stage, you can personalise your home from kitchen cupboards and flooring to tiles and bathroom suites. New developments can also offer more confidence to ‘lock up and leave’ if you decide to take an extended trip.

Larkfleet has a reputation for building communities and we are proud that some of our current older homebuyers sought out a home on one of our developments specifically for the lifestyle they offer. Our developments are all close to local amenities such as shops, restaurants, post offices and doctors’ surgeries. Carefully designed to ensure they are in keeping with the surrounding area, Larkfleet developments create sustainable community living – with a good mix of property types to attract buyers at every stage of their lives.

Samantha Hart, Sales and Marketing Director for Larkfleet says “We offer new homes for every stage of your life, from one to five bedroomed homes and exclusive retirement properties too. Community is at the heart of all our developments, we carefully select land for developments close to existing neighbourhoods and amenities.”

To find out more about incentives for over 55s and those interesting in downsizing, or for an informal chat about your options, contact a member of the Larkfleet team.