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What is a pension mortgage ?


If you have a personal pension scheme, a Pension Mortgage may be an appropriate option. A pension mortgage is similar to an Endowment Mortgage, in that interest only is paid off during the mortgage period. The difference is that the lump sum generated by your pension scheme on your retirement is used to pay off the capital.

Rather than then paying premiums on an endowment policy, you make contributions to your pension scheme sufficient to ensure both the repayment of the capital element and a wealthy retirement.

You will also need to have a separate life insurance policy to cover the capital sum, should you die before retiring.

If you have any questions on UK pension mortgages, please feel free to request a callback and a professional independent mortgage adviser in your local area will contact you.