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SSAS Pension advice
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bigheadxx
Posts: 3,047 Forumite
I would like to purchase a commercial property (about £45,000-£55,000)
My total pension assets are around £15,000. I understand that I could borrow 50% of my pension pot, £7,500 giving me funds of £22,500 at my disposal, enough for a 40-50% stake in the property.
My question is, would a commercial lender let me borrow 100% of the balance on the basis that a substantial deposit has been paid albeit by my pension fund and not me personally.
Further to this, could I gradually transfer the property to my pension as I contribute to it each year?
My total pension assets are around £15,000. I understand that I could borrow 50% of my pension pot, £7,500 giving me funds of £22,500 at my disposal, enough for a 40-50% stake in the property.
My question is, would a commercial lender let me borrow 100% of the balance on the basis that a substantial deposit has been paid albeit by my pension fund and not me personally.
Further to this, could I gradually transfer the property to my pension as I contribute to it each year?
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