Many pensioners having to sell their homes

A recent report has suggested that an increasing number of elderly homeowners in the UK are being forced to sell their homes every year in order to get the money together to get a place in a care home. It is estimated by one leading charity that around sixty thousand homeowners are having to sell up so that they can raise the finances needed to secure a place in a care home.

The number of elderly Brits has been growing over recent years, and many of those now entering into old age bought their homes during the property boom years. The charity said that these factors have contributed to the rising number of people that are having to sell their properties to get cash for care home costs.

Officials are concerned that because the state is taking the money from these people to fund their care in old age, many have little to nothing left to leave to their loved ones. The figures were released by the charity Counsel and Care.

One official from the charity said: ‘Families want the right care and the right deal. An increasing number of older people and their families are faced with the prospect of huge care home bills which have to be paid for by selling their home. This has been made even harder by the current economic crisis.’