Don’t get me started on politics and politicians, but in one area I think we can at last detect a glimmer of common sense.
From this April 2015, if you’re north of 55, your pension pot really will become yours. Instead of being compelled to invest it in sluggish annuities, and see your funds eaten by opaque management fees, you can withdraw the lot and do with it what you wish.
This has prompted much talk about Lamborghinis and racehorses, but if your central goal is to find a better vehicle to help keep you in your retirement, investing in prime property may well be an insightful move.
The buy-to-let market is expected is see a surge of capital released from pension pots, and with good reason.
In prime areas, rental yields are forecast to deliver strong growth in the coming year and beyond. Values of good rental properties have also shown impressive increases historically (in some cases, spectacularly so). In addition, as a landlord you can offset many of your costs – mortgage interest, property maintenance, management fees – against rental income.
Couple all this with an investment you can see, touch and understand, and there is much to be said for discovering an unexpected new career as a landlord.
But will this mire you with finding trustworthy tenants, and fielding 2AM phone calls about dripping taps? Not at all. At Aylesford, we can take care of every aspect for you, from finding property with excellent rental potential through to marketing and caring for it.
Under our roof we’re delighted to have, in my wholly biased view, the most expert and experienced lettings director in London: Catherine Cockcroft.
She’s always delighted to chat and advise, whether you’re entirely new to property or are an existing landlord. Do give her a call.