Harefield Gazette - - PROPERTY - PAUL GILLE­SPIE; 020 8426 1972; pgille­spie@gibbs-gille­; www.face­ gibb­s­gille­spie; Twit­ter: @gibb­s­gille­spie

A NUM­BER of ar ticles in the me­dia re­cently have re­minded those it may af­fect that there are just three months to go be­fore ‘pen­sion free­dom day’.

From this date – April 6 – any­one cash­ing in a pri­vate pen­sion plan will no longer be re­quired to buy an an­nu­ity – an in­sur­ance con­tract that pays a guar­an­teed in­come for life – and in­stead they will be al­lowed to cash in their sav­ings and use the money as they see fit. Ac­cord­ing to re­search by Ip­sos

Mori – a lead­ing UK mar­ket re­search or­gan­i­sa­tion – about 16% of peo­ple who will be cash­ing in their funds in­tend to in­vest their sav­ings in buy-to-let proper ty. Th­ese peo­ple hope their proper ty will gen­er­ate rental in­come they can live off in re­tire­ment, with house price in­fla­tion leav­ing them with a valu­able as­set to cash in later in life or leave to heirs.

The re­turns can be gen­er­ous and there is also the po­ten­tial for con­sid­er­able cap­i­tal ap­pre­ci­a­tion. How­ever, any­one con­tem­plat­ing be­com­ing a land­lord should be aware of the legal re­spon­si­bil­i­ties and the tax rules that will ap­ply to with­drawals made from pen­sion pots un­der the new rules. And, of course, there are a num­ber of is­sues to think about that will re­quire a bit of re­search to be well pre­pared, such as, will you pay tax? Do you need a mor tgage? Will in­her­i­tance tax be a prob­lem? Is the in­come on of­fer wor th it?

Ver y good prof­its can be achieved with buy-to-let but the fi­nances need to be re­viewed care­fully, and you shouldn’t do the deal un­less the fig­ures work.

For nearly 20 years Gibbs Gille­spie has been help­ing proper ty in­vestors min­i­mize their risks and max­i­mize their re­turns by pro­vid­ing a tai­lored – and stress-free – ap­proach to proper ty in­vest­ment.

Our proven track record comes from a thor­ough un­der­stand­ing of the res­i­den­tial proper ty mar­ket and ex­ten­sive con­tacts within the in­dustr y.

Should you be con­sid­er­ing this idea with your pen­sion then sim­ply pop in to see us for an in­for­mal chat and the best ad­vice to make a suc­cess of your in­vest­ment ap­pro­pri­ate to your bud­get and needs.

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