Why you need to think about property as a pension

Property as a pension is something we all need to think about. Last week I read an article by BBC News on how more people plan to delay their retirement. Wouldn’t it be great if you didn’t have to?

According to SAGA, many people in their fifties plan to work past the current state pension age (SPA) of 65. I find the fact that the number of people working beyond the Current State Pension age has almost doubled since 1993, standing at 1.41 million (2011) alarming!

And unfortunately I predict that this increase is likely to continue (even allowing for the rise in the SPA over the coming years), as an eve- increasing number of older people hitting retirement are still liable for a large mortgage or debt, and unfortunately their retirement income is insufficient to service them. This leaves them little choice but to continue to work and delay their retirement. Sure there are those who want to work just because they enjoy it, but the fact that there has been a 44% increase since 2009 in the number of over-60’s contacting the Consumer Credit Counselling Service for help with mortgage arrears (compared to just 3% across all age groups) highlights the severity of the issue.

Read the full article here: http://www.bbc.co.uk/news/business-18490517

Gill Alton

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Gill Alton is the founder of Alton Property Partners, which provides a comprehensive and personal Property Portfolio Building Service for investors in the UK.

Alton Property Partners manage the entire investment process, from sourcing property at a discounted value, co-ordinating the Mortgage, arranging the refurbishment, right through to ensuring it is ready for the rental market.

The service is specifically aimed to support those who recognise the value of a UK investment portfolio, but lack the time, or knowledge to be able to invest for themselves because they are full time employees or Business Owners. With full consultation and comprehensive financial analysis, clients can be assured that their portfolio of strong yielding properties will be built to exacting standards and they will be kept up to date every step of the way.

Having been involved in property for 16 years Gill has built a personal portfolio for her family, and in addition to Alton Property Partners, runs a Property Mentoring Business, Venus Property Mentoring which focuses on supporting new investors onto the investing ladder. Having originally left the Corporate world to be a Qualified Mortgage Broker, Gill’s husband now focuses on their family Mortgage Brokerage in Maidenhead – Alton Mortgages.

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