After a 30-year career in property management, Lynn Jackson had been looking forward to retiring in December. So it’s a cruel irony that the 65-year-old has been denied access to her pension because it is trapped in a frozen property fund.
Ordinary investors have around £13.5 billion of savings in property funds, which typically own office blocks, warehouses, restaurants and shops. But a slew of funds were suspended when the pandemic hit because of uncertainty in the property market.
Today, the Mail reveals how experts are predicting that investors may be forced to wait until next year before they can access their money.
A slew of property funds were suspended when the pandemic hit because of uncertainty in the property market
Diane Earnshaw, of investment research group Square Mile, says: ‘Property funds rely on expert valuations to determine what the properties are worth.
‘Valuing such property was extremely difficult during