Over 55s now own £1.5 trillion of equity in their homes, according to research by Age Partnership Dominic Lipinski/PAPeople should leave their inheritance to their grandchildren rather than their son or daughter to help them buy a home, the housing minister has said. Gavin Barwell said that skipping a generation would ease the housing crisis and revealed that his mother planned to pass her estate and a £750,000 home to his three children and two nephews. Research by Age Partnership, a retirement income adviser, has revealed that English people over 55 now own £1.5 trillion of equity in their homes — more than the annual GDP of Italy. Mr Barwell said his mother had “disinherited” him and that…

Source: The Times October 09, 2016 23:48 UTC