These are the findings of new research published today by Circle Anglia – one of the UK’s leading providers of affordable housing – as part of their 2009 survey of ‘Neighbourly Habits.’

Not only do the majority of the over-65s say they know the name of their neighbours (92 percent), they also actually enjoy spending time with them (56 per cent). This compared to only 66 per cent of the 18-24s who know the names of their immediate neighbours and the 26 percent who said they enjoy time spent with neighbours.

The poll of 2,000 people found that overwhelmingly older people are more trusting of the people who live on their street. While they are out of the house, 91 per cent of senior citizens said they trust their neighbours enough to look after deliveries, compared to just 62 percent of the 18-24s. Regionally, nine out of 10 residents (87 per cent) in the North West are happy to trust their neighbour with deliveries compared to only 77 per cent of Londoners.

Andy Doylend, Executive Director of Operations, Circle Anglia said, “Older people are far more likely to suffer from social isolation. This research not only demonstrates the value people over 65 place on talking to neighbours – but also the benefits of this such as an increased trust in the community which can make a real difference to people’s quality of life.

“That’s why we’re calling on people throughout the UK to bridge the age gap this festive season and take time to say hello to their neighbours. With the rise of social networking and online communications tools, it’s essential that neighbours lend a hand during this festive time to show that they value real relationships just as much as their online ones.”

Circle Anglia

Prudential said the product, which enables retired people to unlock money tied up in their home without having to move, was too capital intensive, and it could us the funds more profitably elsewhere.

The group first entered the equity release market four years ago, and it now has 14,000 customers and a lifetime mortgage book worth £1 billion.

But it has seen its share of the market halve this year, dropping from 23% at the end of 2008 to 12% during 2009 so far. Lifetime mortgages enable retired homeowners to borrow a lump sum against the value of their property, but the debt is not repaid until they die or move home. As a result, a significant amount of capital is paid out up front, but it is often many years before any of the money is repaid.

Barry O’Dwyer, managing director of retail life & pensions, said: “The focus for Prudential UK remains to compete selectively in areas of the retirement savings and income markets where we can generate attractive returns on capital employed.”

Existing lifetime mortgage customers will not be affected by Prudential’s decision to pull out of the market.

The number of providers of this financial service has dropped from 20 to 11 over the past year.

Prudential

Challenged over his firm’s alleged exploitation of “vulnerable elderly people”, he said that the group making the claims were “serial complainers” rather than “dribbling geriatrics”.

Concensus owns retirement home managers including Peverel and Fairhold, with some 57,000 elderly people among its clients, and his comment was fiercely criticised. Some critics called for Mr Rapley to be sacked on the spot.

BBC Breakfast was inundated with complaints by angry viewers. The BBC’s complaint service also had calls about Mr Rapley’s comments. Consensus Business Group was flooded with calls as furious pensioners sought to make their displeasure known.

The BBC had invited Mr Rapley to address concerns from pressure group Campaign Against Retirement Leasehold EXploitation (CARLEX), which has attracted 18,000 hits since it set up a website challenging the charges levied by companies like Peverel for sheltered accommodation services including wardens, insurance, alarm systems and telecomms.

One of the programme’s presenters told him: “We are talking about elderly people who feel vulnerable, in some cases who might not want to complain.”

He replied of the CARLEX group: “It’s very easy to use emotive language. These are not dribbling geriatrics, they are people in their later years, they are very very aware of what they are doing.”

A spokesman for the firm apologised unreservedly for Mr Rapley’s comments, and said it would launch a review of its service and charges to be completed by February 2010.

“We would also like to state that the points made by the programme have been listened to fully,” a spokesman said. “We are conducting a comprehensive review of the issues raised, in conjunction with our trade associations. We continue to welcome all constructive contributions.”

A source close to Mr Rapley added: “He regrets it and everyone who has anything to do with the company regrets it. It was not our finest hour.”

Campaign Against Retirement Leasehold EXploitation (CARLEX)

Consensus Business Group