Search results for ‘Subject term:"older people"’ Sort:
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Home-ownership in later life: financial benefit or burden?
- Authors:
- HANCOCK Ruth, et al
- Publisher:
- York Publishing Service/Joseph Rowntree Foundation
- Publication year:
- 1999
- Pagination:
- 70p.,tables,bibliog.
- Place of publication:
- York
Study analysing the financial costs and benefits of owner-occupation in later life. Includes sections on: home ownership among older people in Britain; the housing wealth of older home owners; is owning cheaper than renting; the potential for housing wealth to supplement income in later life; housing as a form of saving; and conclusions and policy issues.
Housing for care: a response to the post-transitional old-age gap?
- Author:
- MANDIC Srna
- Journal article citation:
- Journal of European Social Policy, 26(2), 2016, pp.155-167.
- Publisher:
- Sage
This article examines the trade-off between owned housing and old-age care in Slovenia where the population has been found outstandingly willing to enter residential care and also consume housing wealth for this purpose. To explain this peculiarity, a case study as a holistic in-depth analysis was conducted, combining multiple sources of quantitative survey data and qualitative interview-based insights and accounting for the institutional context and individual decisions. What was found was a modernised version of the traditional ‘inheritance for care’ exchange, whereby the inheritor partly finances the parent’s residential care. This family-mediated trade-off between old-age care and housing wealth was found to serve as an informal equity-release scheme which in Slovenia helps bridge the post-transitional old-age gap, the syndrome of low pensions, underdeveloped care services and owner-occupied housing un-adapted to seniors. Moreover, it is hypothesised that this structural gap is common to other post-transitional countries. (Publisher abstract)
Released from worry
- Author:
- DUNNING Jeremy
- Journal article citation:
- Community Care, 28.01.10, 2010, pp.24-25.
- Publisher:
- Reed Business Information
Equity release pilots in the London Borough of Kensington & Chelsea and Islington and in Maidstone Kent which aim to make equity release schemes a viable option for older homeowners with a small income are described. The aim is to help older householders to use their housing wealth to maintain their independence and remain in their own homes. The scheme is being piloted by the Joseph Rowntree Foundation in collaboration with local authorities, charities and the financial services sector.
Older owners: research on the lives, aspirations and housing outcomes of older homeowners in the UK
- Authors:
- LLOYD James, PARRY Will
- Publisher:
- Strategic Society Centre
- Publication year:
- 2015
- Pagination:
- 44
- Place of publication:
- London
Using data from the 2011 Census and a nationally representative panel survey, this qualitative research describes the housing wealth, outcomes and lives of older homeowners in the UK. It also looks at older homeowners in relation to key housing policy outcomes. The research covers: the increase of older home ownership; housing characteristics and living situation; income and economic activity; disability, health and caring; issues with the local environment and services; their attitudes to their neighbourhood, and moving plans. Findings suggest that there is a high percentage of under occupancy among older homeowners; between 20% and 40% of older homeowners in the UK may benefit from some form of adapted or specialised housing; and that the majority of owners had strong levels of neighbourhood attachment and planned to remain in their neighbourhood for a number of years. The report also briefly highlights the relevance of the findings to policy makers in relation to housing suitability; housing supply; housing wealth; and intergenerational fairness. An accompanying policy report 'Open Plan: Building a strategic policy toward older owners' considers the implications of the research findings for policy development. (Edited publisher abstract)
Will older home-owners use equity release to improve the quality of their lives?
- Authors:
- TERRY Rachel, GIBSON Richard
- Journal article citation:
- Housing Care and Support, 13(1), February 2010, pp.28-32.
- Publisher:
- Emerald
Older people often prefer to be supported in order to remain in their own homes, but are often unable to afford the type of help they want. If income-poor, but asset rich older home-owners could draw on their housing equity easily, then they could afford the practical help (such as window cleaning and gardening) that would improve their quality of life and make it possible for them to continue to live for longer in their own homes. However, there are deterrents to using equity release, such as reluctance to reduce inheritance, anxiety over whether drawing on this equity is value for money, and concern that it might mean a reduction in their entitlements. The schemes that have been drawn up address all of the above concerns, and the pricing is more favourable than any alternative – although the interest rates are similar, there are significantly reduced fees. This article reports on three local authorities (the London Borough of Islington, the Royal Borough of Kensington & Chelsea, and the Borough of Maidstone) that are now piloting equity release schemes, and the plans for monitoring and assessing them.
Obstacles to equity release
- Authors:
- TERRY Rachel, GIBSON Richard
- Publisher:
- Joseph Rowntree Foundation
- Publication year:
- 2006
- Pagination:
- 59p.
- Place of publication:
- York
Over two million older home owners have housing assets worth over £50,000 but incomes so low that they qualify for means-tested benefits. Drawing on housing equity could improve their quality of life significantly, helping them to live more comfortably in their own homes for longer. But only around 25,000 home owners (of all incomes) conclude equity release deals each year. This study by Rachel Terry and Richard Gibson identifies the obstacles to older home owners with relatively low incomes releasing housing equity and suggests ways of overcoming them. The study focuses on funding home improvements and repairs, and additional care at home.
Overcoming obstacles to equity release
- Author:
- JOSEPH ROWNTREE FOUNDATION
- Publisher:
- Joseph Rowntree Foundation
- Publication year:
- 2006
- Pagination:
- 4p.
- Place of publication:
- York
Over two million older home owners have housing assets worth over £50,000 but incomes so low that they qualify for means-tested benefits. Drawing on housing equity could improve their quality of life significantly, helping them to live more comfortably in their own homes for longer. But only around 25,000 home owners (of all incomes) conclude equity release deals each year. This study by Rachel Terry and Richard Gibson identifies the obstacles to older home owners with relatively low incomes releasing housing equity and suggests ways of overcoming them. The study focuses on funding home improvements and repairs, and additional care at home.
Using your home as capital 2005-06: a guide for older people
- Authors:
- HINTON Cecil, GOODALE Mark
- Publisher:
- Age Concern
- Publication year:
- 2005
- Pagination:
- 116p.
- Place of publication:
- London
- Edition:
- 18th
The book gives a detailed explanation of the changes, from 31 October 2004, under the Mortgage Conduct of Business (MCOB) Rules. It also covers how people can capitalise on the value of their homes and obtain a lump sum of capital or a regular additional income. Packed full of practical guidance on areas such as insurance and maintenance, checking agreements and legal advice, the abolition of MIRAS tax relief and the introduction of the fixed interest Roll-Up loans schemes, this bestselling book is the definitive guide to raising capital and income from your home.
Is there a trade-off between pensions and home ownership? : an exploration of the Irish case
- Author:
- FAHEY Tony
- Journal article citation:
- Journal of European Social Policy, 13(2), May 2003, pp.159-173.
- Publisher:
- Sage
It has been argued that, in countries with high levels of owner occupation of housing, home ownership can serve as a substitute for generous pensions for older people. Two possible linking mechanisms have been posited in this context, one focusing on budget constraints (high housing costs associated with home purchase makes the funding of generous pensions unaffordable), the other on needs or incentives (high home ownership gives older people material security and so makes generous pensions unnecessary). This article examines Ireland as a test case in this context. It finds no evidence that either of the posited linking mechanisms were present in Ireland. House purchase costs historically have been too low to constrain pension development, while the distributive benefits for the elderly have been too modest to obviate the need for higher pension income. However, other distributive effects emerge as important, particularly the positive historical consequences of inflation and low real interest rates for home purchasers of all ages and the implicit subsidy to home ownership provided by savers
The evolution of home modification programmes in Japan
- Authors:
- MAKIGAMI Kuniko, PYNOOS Jon
- Journal article citation:
- Ageing International, 27(3), Summer 2002, pp.95-112.
- Publisher:
- Springer
- Place of publication:
- New York
In this article, the authors analyse the evolution of home modification support programs for the community-dwelling frail elderly in Japan from an historical perspective. First, Japan-specific issues that relate to home modifications are explained. Next, the early history of local home modification programs and its operation are discussed. Third, the authors analyze the context of the inclusion of home modification program as a part of the newly implemented National Long Term Care Insurance System.