New research from equity release firm Key Partnerships says that people downsizing – selling a larger property to move into a smaller one – have unrealistic expectations about the amount of money they will release as a result.
Perhaps surprisingly, the research goes on to suggest this is not because people are over-estimating the value of their current home, but are under-estimating how much they will have to pay for the smaller new home.
This, the report says, is because of a lack of supply of such homes, forcing up the prices of the properties to which they downsize.
