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Is there such a loan available?

Carla6919 · 2022-07-28 12:03:20

I quit my job to travel 4 years ago but it looks like my funds wont last until I get my pension in 2 years time. My pension is in a SIPP and is worth approx £1million. I need around £20,000 to see me through the next two years. Obviously I will easily be able to pay off a loan once I get my pension. Does anyone know if…

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PaulW922 Posts: 1,039 Forumite

2 August 2022 at 4:03PM edited 2 August 2022 at 4:04PM

I think you will need to approach a broker who offers specialist advice - you are not going to get this from the building society! You are after an interest only loan secured against your SIPP. Depending on how it is invested you may need to be prepared to pay a higher %%%

In the days of lighter regulation people took out mortgages secured against PEPs and Pensions, so it has been done

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Is there such a loan available?

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