Almost 20% of Senior Citizens Plan To Use Their Pension to Buy Properties To Rent in the UK | Discuss

There could be a whopping increase in the number of buy-to-let landlords as many seniors are now looking forward to using their pension to purchase properties. According to a holiday letting website, holidaycottages.co.uk almost 20% of people aged above 50 are planning to get their pension under the April reforms will spend the money on new properties.

Residents in London are especially keen on the concept of property investments with almost half of them now looking forward to utilizing their pensions for a new home. A survey also suggests that 38% people above the age of 50 are going to be benefitting from pension reforms and will put their retirement savings to use.

However, many people are also planning to invest in holiday homes in the Cornwall region where the average weekly holiday rental income is almost £918 in the peak season of summer and the average property price is £246,657. This shows that the right usage of retirement savings could mean a lucrative investment where landlords can benefit for years to come.

The UK has always been a hot spot for vacationers. In fact, according to director of HolidayCottages.co.uk, the holiday home rental bookings rose by almost 32% this year only with a 10% increase in the number of properties. Some of the recent additions to the company’s portfolio have already been booked for more than half the year, which promises a great ROI.

Last autumn we discussed - 42% of pensioners look to buy-to-let to invest pension pots CLICK HERE

Should the over 55's become "silver landlords" to provide for their retirement? CLICK HERE

Buy To Let Is STILL For Mugs! CLICK HERE

Lets hope that if pensioners do decide to invest their pensions in buy to let properties that they will be aware of the dangers to their income - perhaps they should begin be reading the many warnings CLICK HERE