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pension mortgages

russ5666
russ5666 Posts: 4 Newbie
in Mortgages & endowments
Hi all, I was wondering if its still possible to get pension mortgages? and what do people think of them? Also is it possible to get a european mortgage at much lower interest rate?

Comments

  • dunstonh
    dunstonh Posts: 121,175 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Hi all, I was wondering if its still possible to get pension mortgages?
    Yes.
    and what do people think of them?

    Nice idea in theory but not practical due to Govt playing around with pension rules and the abolition of the 25% tax free lump sum would be a very big risk to you. (Govt has recently renamed tax free cash to pension commencement lump sum and rumours have been going on for some time that tax free cash may end).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    They are obsolete like endowments: most lenders are not bothered any more about how you plan to pay off an interest-only mortgage.
    Trying to keep it simple...;)
  • david29dpo
    david29dpo Posts: 3,986 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    i had a pension with equitable life, every one knows what happened to them! the 25% i could take out to pay my capital back would not cover my toothpaste bill!
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