Navigating London's Over 55 Housing Schemes
London offers a variety of housing options specifically designed for residents aged 55 and over, aiming to provide secure, comfortable, and often community-focused living. These options cater to different financial circumstances and levels of independence, from homeownership alternatives to rental properties with support services. Understanding the distinctions is key to making an informed decision about your future housing.
Older Persons Shared Ownership (OPSO)
Older Persons Shared Ownership (OPSO) is a government-backed scheme available to those aged 55 and over who cannot afford to buy a suitable home outright on the open market. It operates similarly to standard shared ownership, with some key differences:
- How it works: You purchase a share of a property (typically between 10% and 75%) and pay a subsidised rent on the remaining share to a housing association.
- Staircasing: Unlike the standard scheme, you can only 'staircase' (buy additional shares) up to a maximum of 75% ownership. Once you reach 75%, you will no longer have to pay rent on the remaining share.
- Eligibility: Applicants must meet age and income criteria (maximum household income of £90,000 in London) and must sell any existing property owned.
Sheltered and Supported Housing
Often managed by housing associations or local councils, sheltered housing consists of purpose-built, self-contained flats or bungalows for older people. These properties provide independent living with the added security of a scheme manager or a 24/7 alarm service.
Features of sheltered housing:
- Self-contained properties with individual front doors.
- Communal areas for socialising, such as lounges or gardens.
- Emergency alarm systems connected to an on-site manager or control centre.
- An additional service charge is usually paid on top of the rent to cover support and communal services.
Some providers, such as Clarion Housing, offer 'LiveSmart' homes which are self-contained properties for over 55s with a scheme manager and communal facilities but require residents to live independently without nursing or home care.
Retirement Villages and Extra Care Housing
For those seeking a more comprehensive lifestyle and higher level of support, retirement villages and extra care housing are popular choices.
- Retirement Villages: These are often large-scale, purpose-built communities that resemble a village environment. They typically feature extensive amenities like restaurants, gyms, and social activities. Properties are available for private purchase or rent.
- Extra Care Housing: Similar to assisted living, these schemes are for those who need more support. They combine independent living in a self-contained home with access to on-site care staff and a wider range of facilities.
Almshouses
Almshouses are run by charitable trusts and provide low-cost rental accommodation, typically for older people in a particular area or from a specific trade. The City of London Almshouses Trust, for example, offers housing to low-income over 55s. Residents often have a license rather than a tenancy, meaning fewer rights regarding repairs and eviction, but very low costs.
The Seaside and Country Homes Scheme
For social housing tenants aged 55 or over living in London, the Greater London Authority (GLA) runs the Seaside and Country Homes (SCH) scheme. This provides an opportunity to move to flats and bungalows managed by housing associations outside of London, mainly on the south coast and in eastern England. The benefits include a quieter lifestyle and freeing up London housing for other families.
Comparison of Over 55s Housing Options in London
| Feature | Older Persons Shared Ownership (OPSO) | Sheltered Housing | Retirement Villages / Extra Care | Almshouses |
|---|---|---|---|---|
| Tenure | Part-buy, part-rent (leasehold) | Rental | Buy or rent (leasehold) | License (low rent) |
| Eligibility | Aged 55+, income max £90k, must sell other home | Aged 55+ or 60+, variable criteria | Typically 55+ or 60+ | Aged 55+, low income, specific criteria |
| Level of Support | Independent living, potential for add-on care | Scheme manager, emergency alarm | On-site care and support packages | Very basic, often no formal support |
| Facilities | Varies by development, can include communal lounges | Communal lounges, gardens | Extensive (gyms, restaurants, pools, etc.) | Varies, usually basic communal spaces |
| Cost | Subsidised rent + mortgage, service charges | Rent + service charge | Private market rates, service charges | Very low rent |
| Community | Primarily independent, some communal areas | Strong community focus | Comprehensive community activities | Close-knit, often small communities |
Finding and Applying for Schemes
Finding the right scheme involves considering your personal and financial needs. London councils and housing associations manage waiting lists for social housing options like sheltered housing. For OPSO, dedicated property portals like Share to Buy list available properties across London and the UK. Private developers like McCarthy Stone market their own retirement living and retirement living PLUS properties. You can also find advice and listings on reputable charity websites such as Age UK.
It is important to assess all costs involved, including rent, service charges, and any care packages, before committing. The financial criteria for each scheme varies, particularly with income thresholds for affordable options. Always review the leasehold agreements carefully, as some private schemes have clauses regarding future sales or inheriting the property.
The Benefits of Choosing Over 55s Housing
Moving into age-restricted housing offers numerous advantages beyond simply downsizing. A move can significantly reduce the burden of home maintenance, increase safety and security, and foster a strong sense of community with like-minded neighbours. For many, it provides peace of mind and frees up time to enjoy retirement activities and social engagements. The availability of on-site support, even if not immediately needed, offers reassurance for the future.
Conclusion
In London, the over 55 housing scheme is not a singular program but a rich ecosystem of options designed to meet diverse needs. From government-backed shared ownership and council-managed sheltered flats to private retirement villages and charitable almshouses, there is a path for many older residents seeking a suitable home. Researching all the options and understanding the specific eligibility criteria is the first step toward a secure, independent, and fulfilling new chapter. For further information and assistance, a good resource is Age UK, who provide independent advice on accessing specialist housing options. Find advice on housing options from Age UK.
