Buy to let investments 'chosen over pensions'

10 March 2010

Written by David Whittaker

Buy to let mortgages may be required by people who are looking to invest in property rather than placing money in savings accounts.

According to Keith Churchouse, the director of Churchouse Financial Planning, savers are unhappy with poor interest rates.

Those preparing for retirement may also be put off pension schemes because of the collapse of various companies in recent years.

"Many people have switched to things like buy to lets, as an example, where at least they can see bricks and mortar," Mr Churchouse claimed.

This change has occurred over the past ten or 15 years and there is now "quite a lot of apathy towards pensions", he added.

It seems the buy to let investment theory could explain results of a survey published by the National Association of Pension Funds.

Only 34 per cent of workers were confident that the amount of money saved in their pension would be adequate for retirement.

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