Buying to let is becoming the new nest egg for many UK residents
It has been reported recently that the total value of property owned by the UK’s property investors is approaching the value of the entire UK’s pension savings.
At £1.25 trillion – £1,250billion – the value of the homes, flats and houses owned by the growing number of great Britain’s landlords is approaching £1.6 trillion total amassed in workers’ pension schemes.
Traditional pension saving schemes are proving complex and unpopular recently with many finding that their pension pots simply haven’t delivered, and many are now turning to buying-to-let schemes spurred on by cheap mortgages making renting property a reality.
Help to buy schemes and other Government’s pension changes, are enabling savers to spend their pensions and savings freely and are expected to add to the boom.
While the trend is causing concern among some Government policymakers surrounding the current overheating of the housing market in the south of England and London, landlords in Hull and Humberside who plan strategically can benefit from a still relatively calm housing market.