Life Tenancy Investments: As seen on Rightmove
Q: I’m a regular Rightmove.co.uk visitor and have noticed a growing number of properties described as “Life Tenancy Investments”. What are these?
A: Life Tenancy Investments, such as those marketed and sold by the Guy Charrison Property Consultancy, are a fully legal and legitimate way of owning UK property for less than market value.
An alternative to traditional buy-to-let properties, Life Tenancy Investments have long been the preserve of some of the largest financial institutions and listed property companies but they are now available for both individual investors and homeowners alike to benefit from.
For retired people (60+) they offer a simple and straightforward way to significantly reduce the price of their next home in return for lifetime ownership. They become the ‘Life Tenant’ of the property whilst the investor is afforded the opportunity to purchase bricks and mortar for a fraction of its current open market value offering superb potential for capital growth.
As the listings on Rightmove reveal, properties can readily be purchased for 50% less than market value for example a 5 bedroom detached home in Berwick-Upon-Tweed, Northumberland, is currently available for £105,000, a staggering £125,000 discount from the independent valuation of £230,000. The property is sold on a freehold basis but is subject to occupancy in favour of a couple aged 79 and 71.
For investor’s working to a tighter budget and looking for a smaller property then this 2 bedroom apartment in Folkestone, Kent is available as a Life Tenancy Investment from only £79,950. Being sold leasehold and subject to an occupancy in favour of a couple aged 74 and 76, this attractive property presents an excellent investment opportunity as the independent valuation comes in at £135,000 resulting in a discount of almost 40%.
Guy Charrison, property professional and Founder of the Guy Charrison Property Consultancy, comments,
“The majority of my clients who purchase Life Tenancy Investments either already own or are looking to purchase a buy-to-let property. Many use portals such as Rightmove to search for investment properties but all too often they have had bad experiences of traditional buy-to-lets – unreliable tenants, void periods, maintenance issues etc – so are keen to minimise the risks of investment yet maximise the gains.
“In my opinion, Life Tenancy Investments are win-win for both the investor and the Life Tenant. With pension provision never more front of mind and the latest data from Baring Asset Management revealing that 1 in 14 (of people not yet retired) are planning to sell their primary residence in order to fund their retirement, becoming a Life Tenant in their own home in return for a lump sum upfront from an investor can be a very attractive option for many older homeowners.”
A range of Life Tenancy Investments across the country, available through the Guy Charrison Property Consultancy, are clearly listed on Rightmove.co.uk and can be found here http://www.rightmove.co.uk/property-for-sale/find/Guy-Charrison-Property-Consultancy-Chartered-Surveyors/Sunningdale.html?locationIdentifier=BRANCH^104594&includeSSTC=true&_includeSSTC=on.
Enquiry levels for these investment properties have been steadily rising through 2014 with supply only just able to meet demand. So to find out more about a new way of investing in property and the Life Tenancy Investments available through the Guy Charrison Property Consultancy, call today on 01344 851 007 or visit www.guycharrison.com.