Strawberry Star’s Guide to the Pension Reforms Launch Blog
6th April 2015 introduced significant changes to the way pensioners are able to access their pension pots.
Considered the most significant overhaul to pensions in a decade, Chancellor George Osborne established new reforms that would grant those over the age of 55 unrestricted access to the entirety of their pension fund.
With greater flexibility and personal control, pension planners are now able to explore alternative investment opportunities that could subsequently lead to improved, long-term retirement security.
One increasingly popular investment opportunity now available for pensioners is in buy-to-let properties. With sizeable deposits now at their disposal, pensioners can minimise their mortgage outgoings whilst securing a steady monthly income with greater capital return prospects, should they sell their second property.
Mark Haywood of the National Association of Estate Agents (NAEA) has predicted; ‘A feeding frenzy, with many of those with large pension pots cashing in their lump sum and putting it straight into property.’
A survey conducted by market research firm, IPSOS MORI also reflected the growing appetite for property investment amongst the nation’s retirees. The firm’s findings revealed that of the 200,000 expected to cash in their pension, 15% will opt to invest in property.
Although the returns on investing in buy-to-let property can be considerable, as with any investment, there are risks that that need to be considered prior to parting with your pension. Therefore, here at Strawberry Star, we have outlined the key considerations when investing in buy-to-let properties in our Guide to the Pension Reforms 2015.
Launching today, our new guide will explain how the pension reforms could impact you, the free, impartial pensions guidance available and the amended mortgage processes that now accommodate the nation’s retirees.
To find out more about your pensions freedom and buy-to-let property, download our Guide to the Pension Reforms, here.
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