The Sunday Times - All aboard for the magical tour of buy-to-lets
When the new freedoms come into force tomorrow, savers aged 55 and over will be able to take cash out of their workplace and personal pensions flexibly.
Some may keep their nest eggs invested in the stock market, others may spend on home improvements or a once-in-a-lifetime holiday. Such is the obsession with property, though, that many may try to make money from bricks and mortar by buying a home to let.
Aaron Strutt of the broker Trinity Financial said: “Many of the high street lenders do not offer borrowers from the age of 70 a buy-to-let mortgage, even if they have a significant deposit.” Examples of lenders that look more favourably upon older customers include Skipton building society and The Mortgage Works, according to Strutt.
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