Pension
Pensions are an extraordinarily complicated area involving for example, company pension schemes, executive pension plans and personal pension plans to name but a few. There are occasions where your personal circumstances could dictate that there would be benefits in utilising a pension policy as a mortgage repayment vehicle.
You should, however, be particularly aware that any use of your eventual pension fund to repay your mortgage will reduce the funds available for your retirement. Additionally, there are strict eligibility requirements regarding pensions and should your employment circumstances change, you would have to review, and possibly rearrange, the plans made to repay the mortgage capital. If you or the lender require life cover this can be built into the pension policy or arranged separately.
For more detailed information see the pension section of this website.
