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Wednesday, January 28, 2015

Advice for silver landlords from Stoke agent

A Stoke letting agent forecasts the continued rise of the 'silver landlord' following this April's pension reforms in The Stoke Sentinel.
The new accessibility granted by the pension reforms will open pension pots up to the potential BTL investments.

Local letting agent Steve Swann of Northwood Lettings, reports already noticing a trend toward older landlords looking to make better returns of savings and can only see this trend increasing following April's pension reforms.

Steve says: “ The financial freedoms the reforms allow mean that increasing numbers are purchasing property for buy-to-let purposes, joining the growing numbers of private landlords."

“These are often people who have experienced good long-term growth in the value of their home and see property as a secure investment. The majority of ‘Buy to Let’ investments are within a 15 mile radius of the owners home so it is predominately local people we are talking to."

Steve advice to any new investors is  

“Discuss the market place with a reputable letting agent, they know the local market place, and decide which sector of the market place you feel most comfortable with. View some properties on the ‘To Let’ market, take advice about the legal requirements and how your agent can help make sure you don’t fall foul of the regulations. Look at the potential pitfalls and budget for ongoing maintenance of your property.When choosing your property consider questions such as would you be prepared to live there yourself, would you feel safe walking around the area on an evening stroll, are there facilities that would be suitable for your potential tenants such as parks, bus routes and schools? This is your retirement – do your research and talk to the experts.”

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