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pension mortgage

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pension mortgage
n
(Economics, Accounting & Finance / Banking & Finance) an arrangement whereby a person takes out a mortgage and pays the capital repayment instalments into a pension fund and the interest to the mortgagee. The loan is repaid out of the tax-free lump sum proceeds of the pension plan on the borrower's retirement


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s mortgage market, of course, is something of a minefield and expert advice is needed to tread a clear and confident path through the available offerings and choices between repayment, fixed interest, interest-only, endowment and pension mortgages (to name but a few).
The idea behind pension mortgages is that you are paying off the loan not only using a fund which grows free of tax (like an ISA), but you are also effectively getting tax relief on your mortgage contributions as well.
A Pension Mortgage is one of the most tax efficient methods of repaying a loan on an investment property.
 
 
 
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