In want of a property pension

P

proppension

Guest
Hi all,
My husband and I are looking to finance our pension through property. We are both in our 50's. We owm our house, worth approx 1.3million, and have savings of approx 150,000. We don't have a pension plan, net annual income is approx 60,000 (husband is self-employed and we have 3 teenagers). We would like to get on the property ladder in Ireland and have invested abroad. We need to take a mortgage of 180,000 to finance this.

I would appreciate any good advice anyone has to offer....
 
Are you sure you want to "put all in eggs in one basket" and be dependent on the property market to ensure a pension fund for the next x number of years?

I am not a pension adviser, just an accountant, but basic investment advice will tell you to diversify.
 
Thanks for the reply. Is there anyone out there who can give me some investment advice?
 
You could talk to an adviser about the benefits and pitfalls of purchasing the property through a Pension Mortgage. I just think that, for you, the self administered route might be too expensive.

Pay a fee for the advice and if you decide to put the pension in place, do so on an 'execution only' basis. You should also search the pension,mortgage forums for Pension (Backed) Mortgages sop that you know what questions to ask when you meet the adviser.
 
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