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Pension pot investment in overseas property (anyone done it)?
baddersce
Posts: 1 Newbie
I read today that you can use a pension pot (30k min) as a deposit on buying overseas property. Looks almost like a none brainer, has enyone got experience of this and gone for it?
Thanks in advance
Thanks in advance
0
Comments
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My father tried it once, the accountant managing the funds pocketed around 100 people's money and was never heard from again...
15 years on and there are still a few people trying to track him down and recoup some of their money, so no, I wouldn't do it, very poorly regulated, if regulated at all, making it a massive risk, not something I'd want to take with my pension money...0 -
There are also the horror stories about people building houses only to have the local authorities making roads through the land, confiscating the property or demolishing it and all because the laws abroad are so different.
Besides this, prices of property could be low because owners are desperate to sell, as the economy is failing.0 -
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