41 minutes ago, Nick Carter icp said:

 

   Isn't that only available to people who borrow money secured on the value of their own home ?

 

:A Retirement Interest-Only Mortgage is a long-term loan secured against your property

https://www.royallondon.com/retirement-planning/releasing-equity/retirement-interest-only-mortgages/

 

 

 

What he described sounds like Equity Release................IMO an expensive and desperate way of raising money against the security of your property.

 

Having just helped my daughter buy her first house, I don't think that the OP has a cat in hell's chance of buying anywhere with a mortgage.

59 minutes ago, Nick Carter icp said:

 

   Isn't that only available to people who borrow money secured on the value of their own home ?

 

:A Retirement Interest-Only Mortgage is a long-term loan secured against your property

https://www.royallondon.com/retirement-planning/releasing-equity/retirement-interest-only-mortgages/

 

You can also get it for buying a new property, not remortgaging an existing property. The loan is secured against the new property which then passes to the lender on your death (ie, you can't will it to your family etc).  

2 minutes ago, simon43 said:

You can also get it for buying a new property, not remortgaging an existing property. The loan is secured against the new property which then passes to the lender on your death (ie, you can't will it to your family etc).  

 

 

Not from a mainstream lender?

 

What LTV do they offer - and what sort of interest rate?

What is your monthy living costs in Thailand ?

4 hours ago, simon43 said:

 

UK pensioners claim their benefit online, with minimal actual travel to an office 🙂

 

Yes, a 2-stage return to the UK, staying in Blackpool initially is also a viable option.

 

One other option that I'm investigating is buying a small flat in the west country via an RIO (retirement interest only) mortgage, where the property passes to the lender on my death, (since I have no relatives that I would want to inherit the property).  One issue is that I rent a property, the rental amount each month is mostly paid by the local authority.  If I buy a property, the monthly mortgage amount is not paid, although I might be able to get a reduced loan.

I think you need a sizeable capital amount as RIO lenders tend to offer loan to value ranging from 55% to 70%

Many people in more expensive rental locations are now finding a shortfall of what their rents are against the LHA which is now frozen again until April 2026

for some people the shortfall is as much as £200-£350 per month

4 hours ago, Harsh Jones said:

What is your monthy living costs in Thailand ?

Not much, typically 20,000 baht.  But I'm not considering moving for financial reasons.  I'm thinking long-term care/medical reasons mostly, and I miss the West Country after 23 years away.

 

For an RIO to buy a 100k small flat, I would need about 30k cash deposit.  Thanks to the demand of my online science students for lessons, plus my UK state pension, that will take me about 7 months to save up. 

14 minutes ago, simon43 said:

Not much, typically 20,000 baht.  But I'm not considering moving for financial reasons.  I'm thinking long-term care/medical reasons mostly, and I miss the West Country after 23 years away.

 

For an RIO to buy a 100k small flat, I would need about 30k cash deposit.  Thanks to the demand of my online science students for lessons, plus my UK state pension, that will take me about 7 months to save up. 

 

 

Saving 160,000+ Baht per month is a good effort.

19 minutes ago, simon43 said:

Not much, typically 20,000 baht.  But I'm not considering moving for financial reasons.  I'm thinking long-term care/medical reasons mostly, and I miss the West Country after 23 years away.

 

For an RIO to buy a 100k small flat, I would need about 30k cash deposit.  Thanks to the demand of my online science students for lessons, plus my UK state pension, that will take me about 7 months to save up. 

If you go down the RIO route you need to factor in what happens if you need to reside in a long term care home due to health reasons

15 hours ago, simon43 said:

My medical condition has neither worsened nor improved in the past 25 years 🙂  But I'm assuming that as I get elderly, then it probably will get worse...

 

I had a look on the spareroom website.  It's shocking to see how much is asked by landlords (and how much tenants are willing to pay) just to rent a room in a shared property!  Supply and demand of course...

 

I'm in Laos right now, seeing if I should temporarily live here while saving up $$$ before moving back to the UK.  OTOH, I could do the same by teaching again in Myanmar, and save money more quickly (because I would have my in-class teaching income, as well as my pension and my online income).  TBH, it saddens me a lot to see what a mess the UK has become 😞

 

UK is a freezing cold expensive dump infested with Muslim migrants who get free accommodation while real Brits have to pay outrageous rents. Roadrunner will only return if forced. Medical being one of my concerns too. NHS care in my area is only available if you are an emergency, otherwise one waits months for an appointment that may get cancelled at the last moment. It varies depending on what part of the UK you are in. Nope;.... they will bury me in Thailand.

 

I hear that some of the medical insurance firms will cover chronic conditions. Try SBC.

 

 

 

 

3 minutes ago, DaRoadrunner said:

 

UK is a freezing cold expensive dump infested with Muslim migrants who get free accommodation while real Brits have to pay outrageous rents. Roadrunner will only return if forced. Medical being one of my concerns too. NHS care in my area is only available if you are an emergency, otherwise one waits months for an appointment that may get cancelled at the last moment. It varies depending on what part of the UK you are in. Nope;.... they will bury me in Thailand.

 

I hear that some of the medical insurance firms will cover chronic conditions. Try SBC.

 

 

 

 

 

 

What is SBC

2 minutes ago, hotandsticky said:

What is SBC

 

https://sbc-insurance.live/coris/

Just now, treetops said:

 

https://sbc-insurance.live/coris/

 

Thank you

43 minutes ago, simon43 said:

Not much, typically 20,000 baht.  But I'm not considering moving for financial reasons.  I'm thinking long-term care/medical reasons mostly, and I miss the West Country after 23 years away.

 

For an RIO to buy a 100k small flat, I would need about 30k cash deposit.  Thanks to the demand of my online science students for lessons, plus my UK state pension, that will take me about 7 months to save up. 

 

 

What does your UK Credit Score look like?

22 minutes ago, hotandsticky said:

 

 

What is SBC

A health insurance company in Thailand. I hear they will accept chronic conditions.... though I would expect that this is at a price.

56 minutes ago, hotandsticky said:

 

 

What does your UK Credit Score look like?

There is none!  Experian only keep records for 6 years, so although I am in their database (because I'm on the electoral roll), the entry says 'no data' (because even when living in the UK I always use cash, never use a CC or borrow money).  But many landlords assume that 'no data' means 'bad debt history etc'

 

@DaRoadRunner, I hear you. I might have mentioned that when I visited rundown Blackpool, I thought it was 'OK', but that's because I was comparing to what I was used to in Myanmar!!  

3 hours ago, simon43 said:

 

For an RIO to buy a 100k small flat, I would need about 30k cash deposit.  Thanks to the demand of my online science students for lessons, plus my UK state pension, that will take me about 7 months to save up. 

 

   So you can save 3500 GBP per month working online .

Why don't you work in the UK online and pay rent to rent s house there  ?

BTW , will you need to show that you've paid UK taxes before being allocated state benefits ?

   Who have you been paying tax to ?

1 hour ago, Nick Carter icp said:

 

   So you can save 3500 GBP per month working online .

Why don't you work in the UK online and pay rent to rent s house there  ?

BTW , will you need to show that you've paid UK taxes before being allocated state benefits ?

   Who have you been paying tax to ?

 

 

I don't see that it is necessary to evidence payment of UK taxes if he has not been liable for them.

This has been an interesting thread but finally got to the end.  The life's some of you have lived and the future plans for your remaining years have been pleasure reading about.

 

As for the OP, strange predicament you are in.  I don't understand how you had this health issue for 25 years and hadn't planned better.  Why now is it so easy to save 100k baht a month?  Why not 3 years ago? I get the charity you fund but it doesn't really explain how you can easily save money now.

 

I had no idea the UK offered so many benefits to people without saving.  You could live a good life it seems with the minimum pension.  You have lived a simple satisfying life here and probably will in the UK.  I would save 1m  baht and then stay here until your health requires you to move.  

 

So many things about your plan don't add up to me but I must be missing something.  If saving 1m baht is not hard for you as stated many times over the next 12 then just do it.  Your visa issues will be gone because you have the funds. You can just wait and see what happens with your health knowing you have the money in the bank to get you back home to the UK and figure out a rental while you stay in a budget place for 6 months.

 

Good luck 🙂

9 hours ago, atpeace said:

This has been an interesting thread but finally got to the end.  The life's some of you have lived and the future plans for your remaining years have been pleasure reading about.

 

As for the OP, strange predicament you are in.  I don't understand how you had this health issue for 25 years and hadn't planned better.  Why now is it so easy to save 100k baht a month?  Why not 3 years ago? I get the charity you fund but it doesn't really explain how you can easily save money now.

 

I had no idea the UK offered so many benefits to people without saving.  You could live a good life it seems with the minimum pension.  You have lived a simple satisfying life here and probably will in the UK.  I would save 1m  baht and then stay here until your health requires you to move.  

 

So many things about your plan don't add up to me but I must be missing something.  If saving 1m baht is not hard for you as stated many times over the next 12 then just do it.  Your visa issues will be gone because you have the funds. You can just wait and see what happens with your health knowing you have the money in the bank to get you back home to the UK and figure out a rental while you stay in a budget place for 6 months.

 

Good luck 🙂

Yes, I can save up a reasonable amount of money in say 12 months, by not diverting it to my charity.  That's my current plan>> save up some money, return to the UK without a property arranged, then stay in some expensive AirBnB while I either sort out an RIO mortage and buy a small flat, or use my hard cash to persuade a landlord to rent to me.

 

The social security system in the UK is 'weird' IMHO, but I'm just following the process. If you work hard, pay taxes, save up money, then when you start to receive a government pension, you are penalised for your diligence, unable to get housing benefit etc. OTOH, if you have less than 10,000 pounds in savings, you are able to get your rent paid, council tax paid (if you live alone etc).  

 

I have duly paid my NI contributions whilst working overseas, which means that I now receive my UK state pension.  By supporting my own charity and not saving up money, I will get housing benefit if I rent a property, and possible financial help (loan) with my mortgage interest each month.

 

My monthly online income is typically about $2,500, but I'm doing more lessons now, so it's about $,3500 now.  so add on my pension and I can save up a decent amount of money in a relatively short time.

 

Atpeace, my health problem is not treatable, but the symptoms can be managed and those symptoms havn't got worse in 25 years.  I could live healthily to 100 years old perhaps in Thailand, but it's the unknown factor of whether my illness will get worst as I age/my immune system gets weaker 🙂

I would write to a housing assc. In any town you choose,tell them your age/circumstances and they access thru points.   Not bad places actually,lower rents,gardening/windows washed/free wash and driers available,bad tenants shifted  easily,they are ok

On 7/23/2025 at 6:51 AM, Nick Carter icp said:

 

   Isn't that only available to people who borrow money secured on the value of their own home ?

 

:A Retirement Interest-Only Mortgage is a long-term loan secured against your property

https://www.royallondon.com/retirement-planning/releasing-equity/retirement-interest-only-mortgages/

 

 

Liking the quotes of cannot do this,cannot do that,nobody is checking unless you inform on yourself.  Ghost or similar,minimal received mailing is excellent,keeps an address in UK or Spain ,anywhere ,actually.  Nobody in authority will ever check up,to date and into the future...nothing.  Of course here come the bed wetters.

AI overview

Deprivation of assets, in the context of Local Housing Allowance (LHA), refers to a situation where someone intentionally reduces their assets, like money or property, to qualify for or increase their LHA payments. Local authorities will investigate such cases to determine if the asset reduction was done to avoid contributing to care costs. If it's deemed a deliberate attempt to avoid care costs, the local authority may still treat the assets as if they were still held by the individual when assessing their LHA. 

Here's a more detailed explanation:

What is Deprivation of Assets?

It's when someone deliberately disposes of assets (like money, property, or income) to reduce their overall wealth, potentially to qualify for or receive higher LHA payments. 

Why is it relevant to LHA?

LHA is a means-tested benefit, meaning eligibility and the amount received are based on income and assets. If someone intentionally reduces their assets to get more LHA, the local authority may treat the disposed assets as if they were still held when calculating their LHA. 

How is it determined?

The local authority will investigate whether the asset reduction was a deliberate attempt to avoid care costs. They will consider factors like the timing of the disposal, the individual's knowledge of potential care needs, and whether avoiding care costs was a significant factor in the disposal. 

What are the consequences?

If the local authority determines there was deliberate deprivation of assets, they may treat the disposed assets as if they were still held when calculating the individual's contribution towards care costs. 

What are examples of deprivation?

This could include giving away money, transferring property ownership, or making large or unusual purchases that are out of character. 

Important Considerations:

People are generally free to spend their income and assets as they choose, but this freedom is balanced against the responsibility to contribute to care costs if they can afford to. 

There's no fixed time limit on how far back a local authority can look when investigating potential deprivation of assets. 

If someone is concerned about potential deprivation of assets, seeking legal advice from a solicitor specializing in this area is recommended

Op should consider seeking legal advice to check if the funding of his charity is regarding as Deprivation of assets

Pension and benefits

I have a friend who’s ill and is going to retire at 65 they can get all there pension in a lump sent they are thinking of spending all the lump sum on cruises and buying new car and doing house upgrades,if they spend it all around £150,000 when they are 65 will there benefits be impacted at  67 if they had none of it left 

Yes the benefits will be impacted. They wouldn’t get any means tested ones.
Pretty sure you/they already know this.

https://forums.moneysavingexpert.com/discussion/6576694/pension-and-benefits

On request of OP

 

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