New research among 2,000 UK adults by bridging lender MFS has revealed the intentions of those expecting to inherit a property. The survey found that 36% of people across the country will be inheriting a property – equivalent to 18.64m people.

Of those in line to inherit a property:

• The expected market value of the property they are due to inherit all or part of is £347,500.
• 67% will not choose to live in the property they are inheriting, totalling 12.49m UK adults.
• 55% will sell the property as soon as possible so they can re-invest the money in a different asset of their choosing – equivalent to 10.25m people across the country.
• 32% will be refurbishing their inherited property so that it is in a better condition to sell or rent.        
• 25% do not know what to do once they inherit a property and will require advice.

Paresh Raja, CEO at MFS, commented on the findings: “We are about to witness a momentous transition of property wealth from the older generations to millennials and Generation X. With a significant proportion of UK adults not wishing to live in the property they are due to inherit, it is vital they give full consideration to find the best approach available.”