The total value of Buy-To-Let Mortgages reached £4.2m as the number of landlords remortgaging complex buy-to-let properties increased by 2% last year, according to research by Mortgages for Business. Similarly, the number of landlords refinancing houses in multiple occupation rose by 25% in 2012.
A new flat rate universal pension was announced by the Government on the 14th January, to take effect from April 2017.
Under the new simplified system, the rate will be universal and, therefore, everyone will receive the same state pension of £144 per week; provided they have reached the state retirement age, and have made 35 years’ worth of National Insurance (NI) payments. However, those who retire before April 2017 will stay on the current system, which provides £107 per week, but through various top up means can be up to £142.70 per week.