pension mortgage
Posted: Mon Aug 24, 2023 3:56 pmA firend of mine says he has a "pension mortgage". What are they?
A Pension Mortgage is where the homeowner takes out an interest only mortgage and plans to use the tax free lump sum tthey will be able to take from their pension to repay the mortgage on retirement. These arrangements are highly tax efficient but are also complicated. Therefore anyone thinking about a pension mortgage should use a financial adviser to set the scheme up. It is not something you can really do yourself.
Broker Boy