In addition to these shocking statistics, more then three quarters of a million OAPs claim they need to spend more than £10,000 on their beloved home just to bring it up to scratch.
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Mark Neal, Economic Lifestyles managing director comments: Pensioners simply cannot find an additional £5,000 for property maintenance when they are already saddled by growing debts and inadequate pension provision. With such a low disposable income the prospect of spending thousands on the family home just isnt an option.
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Over a million pensioners live in poor quality accommodation, with defects ranging from damp, to a leaking roof or flaking paintwork. In some cases part of a property can become completely redundant to the occupant for instance if they can no longer climb stairs.
Cost is the main factor preventing these repairs from being carried out, as well as the fear of cowboy builders.
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