New Sipp rules won't affect housing market

Lee Grandin, managing director of Landlord mortgages, believes a relatively small proportion of the population will take advantage of the new rules after ‘A’ Day simply because it is too costly. Legislation that comes into effect after 6 April allows a consumer to use their pension fund to purchase a buy-to-let property with the added advantage of being able to borrow up to an additional 50% from their pension fund to do so. Landlord Mortgages claims most UK consumers would need a pension fund of at least £80,000, with full additional borrowing of £40,000, in order to have enough mone...