Deposit for a house

Could anyone please tell me if I have been saving in the SSIA for the last number of years could this money be included in my deposit for the house. My time concluded in the SSIA is not until next October so I would be unable to touch it until then. It would show that I am saving. Also I have set up a pensions scheme a few months ago so would this be taken into account.

The SSIA proceeds can be used after it finishes, or you could take (a large) tax hit, effectiuvely loosing your top-ups and use it now - I wouldn't reccomend this. You pension is tied up until retirement. A better option would be to go for a 100% mortgage for now and use the proceeds of the SSIA to pay down your mortgage when that it is finished. If paying both the mortgage and the SSIA is too much of a strain you could stop or reduce payments in to the SSIA for remaining term - in this way you still get the benefit of the top-ups you received so far.

mango said:

Could anyone please tell me if I have been saving in the SSIA for the last number of years could this money be included in my deposit for the house. My time concluded in the SSIA is not until next October so I would be unable to touch it until then. It would show that I am saving. Also I have set up a pensions scheme a few months ago so would this be taken into account.

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you can't secure a loan against your money in an SSIA... but you can use it as evidence of having been a good saver to help your 100% mortgage application.... this would be your best option....