We need tax breaks for pensioners to help them downsize, MPs and peers say Writing on telegraph.co.uk, Lord Best, the group's chairman, said: "The vast majority of us will await a crisis - perhaps a serious fall, a heart attack or a stroke - which reveals that our home really is no longer right for us. Home adaptations - stair lifts, ramps, walk-in showers - can only go so far. We can find ourselves compelled to move. He added: "More and more people in their "extended middle age" are thinking about downsizing. This can mean much reduced fuel bills and maintenance costs, perhaps the release of some capital, and can prevent a forced move in later life. But down-sizing is not easy. The report's recommendations would "generate the demand that will get more high-quality homes built for this age group," he said. The "Help to Move" equity loan would help older homeowners trade up and buy a more expensive retirement home because of the difficulty of accessing mortgages for pensioners. he report goes on to argue that exempting older people purchasing homes worth up to £250,000 from stamp duty would also help cut their transaction costs. The report argued that this would lead to a net gain for the Treasury because of the consequent moves in the property market. Over half of over-60s - equal to around eight million people - are interested in moving, research has shown. A third of over-60s specifically wanted to downsize, while a quarter said they were interested in buying a retirement property.