George Osborne relaxed the rules on how pensioners can use their pension pot on retirement. And that is very good news, because instead of being forced to buy an annuity with poor returns they will be free to use their pension just as they wish.
People will be able to spend it on Bingo, wine, women, men(?), perhaps even song. But I reckon the majority will use it rather more wisely to invest in property in the form of buying to let. The great thing about being a buy to let landlord is that you invest your cash DIRECT – there is no middle man taking a percentage for managing the asset (apart from a letting agent if you are forced to use one). Your money goes 100% into the investment.
But there’s only one possible downside, and that is the fact that more landlords might well mean downward pressure on rents – you can’t win can you!