If you’d worked hard all your life and earned the right to enjoy your retirement in a comfortable four-bedroom home with sprawling gardens, surely it would be pretty tough to have a couple of normally reputable organisations suddenly accuse you of “house-blocking”. How could they possibly know why you’ve chosen to stay put? Maybe all that extra space isn’t simply wasted, as recent statements by the Royal Institute of Chartered Surveyors and the Financial Conduct Authority appear to have suggested. Maybe it allows you to welcome family and friends to stay, maybe you want to always have space for offspring should their lives hit a crisis, maybe you have pampered pets. Whatever the reason, it’s no one else’s business to be honest. As the saying goes, an Englishman’s home is his castle and what he does with it is up to him.
If you’re looking for your first home no doubt you’ll already have been given plenty of advice, both on what to look for in a property and what you might need to buy to turn it into a home. Indeed, it’s fair to say that you may even be feeling a little pressure to get that first foot on the ladder as quickly as possible. Some elements of the media are suggesting cheaper mortgage deals are already drying up as lenders begin to baton down the hatches in preparation for an interest rate rise while the Government’s Help To Buy scheme may not be available for ever, particularly in the current financial climate.