Government forcing landlords to house non-paying tenants for lengthy periods11:18 AM, 15th September 2020
About 5 days ago 39
According to a poll conducted by Responsible Equity Release ….
72% of pensioners who have an investment property said they would struggle to make ends meet if they did not have the income from their buy to let.
81% of pensioners aged over 65 admit their buy to let properties provide a crucial boost to their retirement income
The reliance on income from buy to let in retirement is high, particularly as low interest rates reduce retiree’s savings.
92% of retirees owning a buy to let property said they are worried about the changes to mortgage interest tax relief and the impact they can have on the profit made from the investment property.
41% of pensioners said they were seriously considering selling their buy to let property despite it being a valuable income generator.
A spokesperson for Property 118’s landlord insurance provider Discount Insurance said “As a result of pension freedoms being introduced last year, many older people and retirees have withdrawn lump sums and invested in buy to let with the aim of securing additional income. However, the new changes to legislation are causing many to reconsider their decision”.
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