ALTRINCHAM SOLICITOR: BUY-TO-LET BOOM PREDICTED FOR APRIL “FEELGOOD-FORTNIGHT” WINDOW.
6th Feb 2015
One of the North West’s most experienced property solicitors is predicting a buy-to-let boom during a “feelgood-fortnight” window in April.
Our John Nattrass says that property prices, interest rates and new pension draw-down rules, but, crucially, improving financial feelgood, are all pointing to significantly increased buy-to-let purchases in the Spring.
“Buy-to-let is already growing strongly as economic feelgood starts to ease its way into the regions, but the combination of low interest rates and more freedom in terms of what people can do with their pension pots after April 6, 2015, is likely to drive even more buy-to-let property deals,” he said.
“The reason I believe it will be a fortnight or so is because of a confluence of factors: there is every sign that current feelgood may well start to fall off pre-General Election, and some people may start to wonder if, on the one hand there is a better deal to be done post-Election, or whether there might be factors stacking against them with a new government: interest rate changes, or legislation aimed at either pushing or dampening growth.
“But house prices are on the rise, so buyers may want to move sooner rather than later – immediately after pensions reforms come in on April 6, which is also, of course, Easter Monday, smack in the middle of one of the busiest house-hunting periods of the year, and, for some people, pension freedom could be like a winning lottery ticket.”