Renting for life

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Hello all

After reading another thread on not being able to afford a deposit for a mortgage got me thinking about renting for life.
Me and dp are on low incomes and will never be able to save for a mortgage without getting a helping hand which is extremely unlikely. So renting for life is definitely on the cards for us. So my question for people who are older and still renting and planning on for life, do you have savings ect put away for when you retire?
Iv never thought of what I will do when I'm old and retired. Paying high rents on a pension is it possible? Would love to hear peoples plans ideas.

Sorry that link is rubbish it was meant to be the gov.uk benefits calculator

If you're renting and on a pension you can claim housing benefit just like a working age person can if your income is low enough to qualify.

You also won't have to sell your home to pay for care if that time ever comes.

I actually believe that the government pushes home ownership because if you have a mortgage and lose your job they won't sub you - like they will pay your rent. Also, they want you to sell your home to pay for your care so they don't have to.

The main issue with renting is the lack of security. If you can find somewhere long term you're in a good position.

Thank you for the replies. I had no idea you can get top ups of benefits when your a pensioner. I just never really thought about it so I think it's good to know as much info as possible.
I think the dream/goal is to own your own home. It seems to be most peoples priorities and for some of us (me) that's just not going to happen and its not something I strive for as its just not realistic.
It's good to know there is some financial help out there if it would be needed.
Also yes I think the lack of security with renting is worrying. People want to sell ect
It's just something iv begun to worry about really.

I had Rainey day savings but last year was my rainy day now I have £8 in savings and stating over. I’ve rented all my life , parents rented

I am very much older and renting. I bought and sold houses when I was young and first married but after my divorce (many years ago) I went back to renting and I'm perfectly happy with it. I would choose to rent above having a mortgage, it gives me more choice.

For a start my money is my own, I don't have to tie it up in a property. I can rent places which are lovely and I could never afford to buy, I don't have that sort of income nor a decent deposit. The UK obsession with buying a place is not replicated in other countries, renting is seen as a normal and viable option in many places in Europe for instance.

Now I'm older and semi-retired, I work part-time. I have found somewhere I like, in the countryside where I want to live, and at a decent cheap rent. I can stay here as long as I like. I don't worry about leaving a huge house for the relatives to argue over if something happens to me, and it will be easy to move me into care if that should be necessary (obviously I hope it won't be!)

It won't be long before I get my state pension, I should be able to manage on it. If I can't, I can apply for help with the rent which I wouldn't be able to if I owned a home.

I think everyone talks about owning their own home and no one really talks about renting for life. I just feel sometimes less than which is ridiculous I know.
@meanderinggently thank you for your post and sharing your life a little bit. Everything you have said is very true especially in the sense of not being tied down and having the freedom of just going if you choose to.
It's such a positive point of view and experience when coming to renting. Thank you.

The biggest problem is that many landlords don't accept tenants who are relying on housing benefit, their insurance often doesn't even cover it. I don't know if that's any different for pensioners, or if that will change if it becomes the norm for pensioners.

Renting is ideal for a pensioner on a low income: no repair bills, rent and council tax paid. Even better if you're in a council house.