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Paying mortgage with SIPP
ElephantBoy57
Posts: 799 Forumite
I am 59 and I still have around seven years left on my mortgage.
Maybe around £30k left, I have shares to the value of £7k but no cash savings.
Can I decide to open a SIPP and put some of the funds from my salary in, that salary would then be used to pay my mortgage.
I would then benefit from tax relief, or does the money need to stay inside the SIPP for a minimum amount of time?
But in principle, I could do that? It just sounds wrong.
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