# Can I put my old home into a self administered pension fund?



## MrChill (6 May 2010)

Hi
I'm a sole trader and have just set up a new LTD company. 
We're planning to move home next year and obviously it will be difficult to sell. I'm due to start a pension (long time now) and was wondering what my options would be if I was to keep our existing home (Mortgage outstanding 410k) and put it into a self administrative pension?

Can an accountant do this or must it be a "Pension Agent" ?
What are peoples experiences going down the self administrative route?

Many thanks!


----------



## boaber (6 May 2010)

You cannot use your own property as an investment in a pension scheme.  Property investment must be at arms length before and after.


----------



## MrChill (8 May 2010)

Is it possible if, you move house, have a new mortgage on the new home and rent the first? Would a new investment mortgage be required for the first home? Thanks


----------



## LDFerguson (11 May 2010)

I presume that this query no longer relates to pensions.  

It's possible to get a new mortgage on the new house and continue to pay your existing mortgage on the old house.  You'd need to inform your insurance company about the change of use of the old house and you might or might not need to advise the existing lender - check the terms and conditions of your loan offer.  

Any lender to whom you apply for a new mortgage will need to satisfy themselves that your income is sufficient to support both mortgages and you'll need a deposit for the new house.  

You should be aware of the tax implications of renting out your former home, e.g. Capital Gains Tax, Income Tax on rent, www.nppr.ie etc.

Liam D. Ferguson


----------

