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Interest Only - Using USS Pension

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My wife and I are currently looking for a mortgage and have found that Northern Rock will accept a pension as a repayment vehicle for up to 70% ltv.

My wife has just joined the USS (Universities Superannuation Scheme) pension in the Career Revalued Benefits scheme and I was wondering how a lender would calculate the tax free lump sum that would be available to pay the mortgage off at retirement.

Can anyone help?

Thanks

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