The Communities and Local Government Select Committee has urged the Government to allow pension holders to invest their money directly into residential property investment.
Currently, tax laws dictate that such an investment is not allowed and this means that investors looking to benefit from a residential property portfolio need to rely on investment in commercial property via a SiPP.
The new changes would bring greater diversity and opportunity to pension investors while providing a greater choice of affordable accommodation to tenants.
Investing in property can prove a profitable venture and with many tenants struggling to find affordable housing, the government is being pressed to offer increased “buy to let” initiatives. The proposed change in pension tax laws is one such move. If you are looking towards any form of direct property investment then you should take steps to help protect your asset and your investment. Such protection can be afforded through the acquisition of residential or commercial landlord insurance.
At The Insurance Octopus we specialise in helping our clients receive highly competitive quotes for tailored residential or commercial landlord insurance, and for property portfolios. Call us to speak to a trained and experienced member of our Insurance team who will be able to help you determine your insurance requirements and give you some great options.