Currently viewing the tag: "retirement income"
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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Empty Property Rates - £1.1 Billion Tax Bombshell

Empty Property Rates – £1.1 Billion Tax Bombshell

The taxpayers Alliance have reported that a massive £1.1 Billion (GBP) was paid last year in Business Rates on empty properties, a rise of 19% between 2009/10 and 2011/12

This is the first time that a figure has been calculated for the amount collected in empty property rates since exemptions for empty commercial and industrial properties were abolished at the 2007 Budget.

Before 2007, empty industrial properties were exempt from Business Rates and empty commercial properties were subject to extensive reliefs and reductions.

Apart from a short exemption period and extremely limited reliefs, full Business Rates are now payable on all empty commercial and industrial properties.

With the economic downturn making it increasingly difficult for commercial landlords to find new tenants, this tax has had some devastating effects:

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