We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Paying mortgage with SIPP
Options

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.
0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards