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Buy-To-Let Investors Defy Tax Crackdown

Buy-to-let looks fixed to maintain popularity despite chancellor George Osborne's tax crackdown d...

Buy-to-let looks fixed to maintain popularity despite chancellor George Osborne’s tax crackdown due to 3 out of 10 people over the age of 55 aiming to invest their savings in housing to let. This trend may have been put into motion by Osborne’s pension freedom reforms policy, where he rejected the view that pensioners cannot be trusted with their own pension pots. Now many pensioners are planning to raid there pension pots to invest in properties to let. Research from prudential suggests that 70% of over 55’s would be investing in the market for the first time. Other research carried out by the insurer shows that one in five people over the age of 55 are considering buying a suitable retirement home now and letting it out until they finally retire. Our buy-to-let expert at Belvoir Sheffield, James Morriss says that ‘’Investing your savings into a property to let can be very advantageous for the buyer in the city of Sheffield. Recent report show that postcodes in Sheffield where properties have been let out carry some of the highest yield returns throughout the country. This will maximise a buyers return and hopefully positively impact their savings’’

 

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