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Pension rule changes in 2006 could mean big changes for buy to let.
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Pension rule changes in 2006 could mean big changes for buy to let.
Let Property Strategies Limited has been in the
buy to let market for 6 years and has always been a little bit different.
The Directors and advisers
are all
Independent Financial Advisers (IFAs) with over 10 years experience each.
This experience enabled them firstly to be able to spot a good idea when it came
along and secondly to ask enough questions to weed out the poor propositions.
Let Property Strategies has
evolved over this time from simply arranging
buy to let mortgages to include a very comprehensive service. Now they can
source a
buy to let property, negotiate the price, liaise with Solicitors, arrange
the mortgage, arrange for it to be managed on completion and oversee the ongoing
management.
Let Property Strategies has
never been a property developer and has steered clear of the often publicised
get rich quick schemes (many of which have since been closed down). All their
properties are bought in popular residential areas and so, when the need to sell
arrives, a good sale price should be achieved. At the same time the tenants will
enjoy living in a nice neighbourhood and so should take more care of the
property.
Buy to let is not all plain
sailing and can be hard work at times. There are no short cuts to making money
and now that the property market is slowing slightly, greater effort and
research is needed.
In April 2006 the pension
legislation will change in the UK. Self Invested Personal Pensions (SIIPs) will
be allowed to invest in residential property and be able to borrow towards the
purchase cost. The small print in this legislation is still being finalised and
more should be known towards the end of the year.
Naturally, Let Property
Strategies will be involved and will be able to offer properties that can be
bought via SIPPs and will also provide a property management service.
Let Property Strategies
still believe in the long term benefits of
property investment and property ownership. The most important issue is for
investors to go into it with their eyes wide open and find an adviser they can
trust.
Let Property Strategies can
be contacted on 020 8301 7935 or via their website
www.letpropertystrategies.co.uk
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