The Times - Young and old are rivals for same homes
As a report suggests that hundreds of thousands of people will take advantage of the pension reforms due next April and draw down on their savings rather than buy an annuity, some experts have voiced concerns that a significant influx into the buy-to-let market by retirees could make things harder for first-time buyers, whose prospects have only recently improved thanks to the Help to Buy scheme.
“If more older borrowers decide to invest their pensions into the property market, to take advantage of the rental returns and rising house prices, it will make things more difficult for first-time buyers,” Aaron Strutt, of Trinity Financial, a broker, says. “One and two-bedroom flats in particular tend to be the most affordable, and if there are less of them available, prices may well rise even more.”
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