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Quarter Of Potential Property Investors Don’t Know How To Apply For Buy To Let Mortgages

New Research Discovers That Quarter Of Potential Property Investors Don’t Even Know How To Apply For Buy To Let Mortgages

New research by a specialist mortgage lender has discovered that an amazing 28% of would-be property investors don’t know how to apply for a buy to let mortgage in order to finance their property purchases.

The figures show that 1 in 4 potential property investors considering investing in property to boost their retirement income don’t know how to apply for a buy-to-let mortgage to get started on their property investment journey.

The research, conducted by specialist mortgage lender Kensington, also found that 54% of people approaching retirement age would consider investing in property using buy-to-let mortgages in order to help increase their income in retirement, but many didn’t know what they needed to do or what evidence to provide in order to apply for the correct type of mortgage.

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Buy-To-Let Opportunities For Pensioners

Buy-To-Let Opportunities For Pensioners

Buy-To-Let Mortgage Lenders Set To Offer Retiree’s Mortgages

Buy-to-let mortgage lenders are reconsidering their age restrictions following the Government’s announcement to give pensioners unlimited access to their retirement savings.

The move has prompted a specialist mortgage lender to offer pensioners under the age of 70 35-year mortgages, while retired people are being targeted with targeted  by buy-to-let adverts with senior appeal.

Managing Director of The Mortgage Works (TMW), Henry Jordan, said they have recognised that buy-to-let is a popular source of retirement income, stating “The recent budget announcements could see even more pensioners considering buy-to-let as an option for their retirement savings.”

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Are You Really Too Old To Become A Landlord?

Are You Really Too Old To Become A Landlord?

There are scores of the current generation who are already facing the nightmare that is an under-funded retirement.

It may appear unfortunate, but more and more people over the age of 60 are beginning to realise that it’s not too late to do something!

It must be extremely scary to reach the end of your working life, only to discover that your pension is massively underfunded.

When it happens to retiree’s, almost the same story comes out every time, “I had a property in the 80s, if only I’d kept it, and bought another”.

Nowadays – 60 is the new 40!

People still have time to build a decent rental property portfolio, and they can guarantee their rental income from the property by utilising Rent Guarantee Insurance products, providing a regular and healthy income stream, but there isn’t time to wait.

In many cases, mainstream mortgage lenders are happy to lend on PRS Buy-To-Let properties up until an applicant’s 75th birthday.

At aged 60 you still have 20 good years left to provide for a happy retirement, especially with the leaps and bounds of medical advances.

Twenty years could see a great deal of capital growth and a substantial amount of rental income. Twenty years provides the opportunity for a whole lot of living to be done.

And if you’re under 60 and reading this: Why wait until you’re 60 to learn the lesson? Get into property investment now and get started providing for your retirement.

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