Sherry FitzGerald

What he is looking for really doesn't exist here. It does in other countries but has been disastrous. For example, in some cases in England, properties are left in limbo after the lease expires because nobody can prove clear title. It can be a very complicated procedure. There are something like over 15 different types of leases and sometimes the ground might revert back to the landlord but the bricks and mortar belong to the person who bought the house.

Mr Walsh might be better to put the £100,000 (€126,973) on deposit and rent. He might be able to negotiate a life tenancy for a substantial sum with a landlord but some might take a horribly commercial view and be thinking in terms of his age and how long he is likely to live.

Another option would be to buy a one-bed apartment in the inner city for £130,000 (€165,066).