Cullen Property management is expecting a rise in ‘silver landlords’ looking for property in Edinburgh at this year’s Property Investor & Homebuyer Show 2015, being held in London later this month.
From Monday 6th April (Pension Freedom Day) people can spend their pensions as they wish, and are no longer forced to convert their pension pots into annuities – resulting in an increase in those reaching retirement age opting to invest in property instead*. As a result, Cullen Property management is predicting a surge of interest in Edinburgh property at this year’s Property Investor & Homebuyer Show, and is receiving more and more enquiries from older property investors with previous links to Edinburgh.
This follows last week’s news that Nationwide is now lending to investors up to 70 years of age, with a maximum loan term of 35 years, meaning the investor can theoretically be a BTL landlord up to the age of 105.
Cullen Property’s operations director Steve Coyle says: “It is interesting to see the rise in silver landlords and we are receiving more enquiries from older people, many of whom used to study in Edinburgh and who consider the city fondly as a result, particularly if their children now study here, too. More mature property investors are interested in securing not just a buy-to-let flat but a long-term home for their children and even grandchildren.
“It will be the fourth year in attendance at the Property Investor & Homebuyer Show for us and every year we discover a new focus. The first year (2012) we were the only Scottish exhibitors but gradually, over the last few years, we’ve seen a real boost in profile for Edinburgh, with more interest shown in purchasing high quality property in the city – particularly in historic and traditional stone buildings. We will be on hand to inform the show delegates about the many excellent and affordable investment opportunities available here.”
The Property Investor & Homebuyer Show is the UK property sector’s main event of the spring season, and the largest landlord and investor networking hub in the UK. The show organisers are expecting over 5,000 delegates over the two day event, which takes place at ExCeL London on Friday 17th and Saturday 18th April.
Cullen Property will be at Stand 242 on both days of the show, opening at 10am and closing at 6pm on Friday/5pm on Saturday.
Submitted by Samantha McKay-Challen