Boost for buy-to-let option for retirees.

New figures confirm that retired homeowners are typically earning more than £7,000 each from their homes over the  past six months, this is excellent news for retirees considering to use the Buy-to-Let option when choosing where to invest their savings that would otherwise have to have gone into an annuity.

This news is well timed just ahead of the change in pension annuity rules that come into force on 6th April, according to a recent study carried out by insurer Direct Line for Business found that almost 30% of people who had a pension said they were considering using some or all of their savings pot to purchase a buy-to-let property to provide them with an income during retirement.

People will no longer be forced to convert their pension pots into annuities, instead  they will be able to withdraw their money in one go and spend or invest it as they wish, this policy should  be a bonus for both property sales and lettings transactions.
However first of all we have to get the election out of the way and see who we have in power. There have been some negative vibes recently from agents in the industry as to if the outcome of the election was a Labour outright victory or even coalition, especially with the talk of Mansion Tax, Change in Landlord rules regarding minimum term rentals and rent controls, not long to wait now just over one month and the election will be decided.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More
Finance

Autumn Budget Misses Mark on Housing Reform: UK Rental Market Squeezed by Shortages and Rising Rents

The UK rental market faces mounting pressures, with a recent Rics survey revealing a critical shortage of properties and surging rent prices. Landlord instructions, a key indicator of properties available to rent, fell to a net balance of -29%, marking this the lowest level since 2021. Strong tenant demand is driving rents higher, with 33%…
Read More
Estate Agent Talk

Save a house deposit faster than ever in THESE areas!

Save a house deposit faster than ever in THESE areas! Aberdeen City in Scotland is named the best place to live if you want to save for a house deposit fast, saving in as little as a year and a half Inverclyde is second, whilst Burnley is third Average salaries and house prices in each…
Read More
Estate Agent Talk

Finding Your Dream Home: Expert Advice from Camberley’s Top Estate Agents

Finding the right estate agent is crucial when navigating the competitive housing market in Camberley. With local expertise and in-depth market knowledge, these professionals can guide you toward your ideal property, saving you time and effort. Their understanding of the area’s nuances, from property trends to community relationships, positions them as indispensable allies in your…
Read More
Breaking News

Zoopla reveals most affordable towns in Britain

With the average home valued at nearly four times average household incomes, Zoopla reveals the most affordable towns in Britain   An average property in Britain is valued at 3.8 times the average annual household income (assuming 2 full-time workers) Cumnock in Scotland, is Britain’s most affordable town to buy in 2024 with average property…
Read More
Software & Tech

The Evolving Nature of Real Estate and Strategies for Agency Success

Real estate agents are used to working with fluid market dynamics. Adapting their sales strategies and responding to new industry demands is almost second nature to most agencies today. However, while making the necessary adjustments when following housing market trends is important, it’s also important for agencies to consider new business innovations that become available…
Read More