M
Michael
Guest
Hello, I am considering buying a 1 Bed in Manchester for 120K STG. I read an article recently that 1 April 2006 is being called A Day in the UK. From this day onwards pension holders can use their fund that they have built up to purchase an investment property. This can then form part of their pension portfolio. The max they can borrow cannot exceed the equivalent of their fund. There is also a cap on the overall amount that can be used to buy a property (not sure what that is). A conservative estimate is that 10% of people with pension funds greater than 50,000 will take the property route. This would add 3 Billion to the annual property market in the UK. It seems that the sector that will benefit most will be the 1 and 2 Bed apartments. Although I don't expect any significant capital appreciation would you agree (all things considered) that with A Day looming this is a good time to buy?