We want to move near er to our family!

[findmeahome]

I am age 60 this year and my wife 58, we own a flat on the South Coast; this has meant repeated trips to London to see our three sons. At the time of moving home we felt it wise to be mortgage free after years of scary mortgage rates during the 1990's, so when opportunity presented we sold our home in London. However, over time my wife has become depressed with being away from our sons and the four grandchildren we now have all living in London. We have come to the decision that we would like to be local to London, or London based again for family.
If we were to sell our current home and repay outstanding commitments we could raise only �80,000. We no longer want the worry of a mortgage and I doubt we would qualify as I am now only able to work part of the time, so we are looking for shared ownership as a way forward; unfortunately, London seems to be reserved exclusively for Key Workers.
Can anyone suggest a way to an affordable rented home in London with security of tenure, and isn't subject to a gigantic waiting list? We would be most grateful for any practical suggestions in this regard.

Ray + Maria

[yesmadam]

Why don't you just rent out your flat and rent a 1 bed flat in town?
Where in London are you looking and where on the south coast are you?
I don't see why you would sell your property.
I stopped my mum and dad selling theirs in Bournemouth and just renting it out. They now spend summer here and winter in Bournemouth.

[lady_p_gold]

Well before you rush into anything, one wonders why they are not making a bit more of an effort to come to you. Surely if they came in the summer they could even rent a house for a week etc. and also I have friends in a similar situation and their children fly now down to the South Coast, can't remember the airport now. Lots of people in later years move to the South Coast and it is more usual for the younger ones to make the trip. I think you should think carefully before getting into all these financial upheavals. Yesmadam's idea is excellent too.

[parkesquay]

I am going to join lady_p_gold in wondering how living only an hour or so away from family they cannot visit you more often. After all if your house is valued at �80K I guess it probaly has only one bedroom but you certainly aren't going to get anything bigger gfor that money in the smoke(please i am not intentinally being derogatory but just practical.
You did a good thing getting away from the mayhem and making the best of your finances. Renting a property in the Smoke will probably cuase you serious financial damage. You are only just 60 and could live another 25-30 years. By renting you will probably run out of cash within the next 10 years.
Now you are 60 you can get very cheap/free travel. There is even the Megabus/trains which are as low as �1(yes one ound)for a single journey. You obviously have a computer so go onto to the Travellodge site(there is bound to be one near family) and look for good bargains-sometimes as low as �15 per night for a double room. Why not do his for a couple of weekends per month.