The findings of this investigation by the Law Commission are making waves, as they concluded "the real potential for abuse" for homeowners living in retirement villages.

This is due to event or transfer fees, which are paid when residents move out or a carer moves in.

In some cases, these fees can be as much as 30% of the value of the property.

The Law Commission seems relatively content with the scale of the fees, but they are unimpressed when these fees are well hidden in small print.

As a result, they have stopped short of calling for a ban and instead want to see the fees become more transparent.

There is a (potentially) positive side to these fees; rather than find spare income to fund a lifestyle in later life, the fees allow older residents to defer payments and use the value of equity in their property instead.

That said, there is no excuse for hiding these fees. 

Many of the better retirement villages across the UK are entirely transparent when it comes to event and transfer fees, which is a practice we would like to see adopted across the entire sector.