Using some pension fund for deposit?

L

Lee123

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Myself and my husband both have an apartment each. Both are in negative equity to various degrees but are rented out. We in turn rent a house ourselves.
We would really like to buy a house and so my question is 2 fold. Firstly if we sold one of the apartments (at a loss) would we be allowed carry the say €80K loss into the next mortgage? Secondly is it insanity to partially cash in pension fund to fund the deposit for a new house? We both earn decent salaries so paying the mortgage even with the carry-over amount would not be an issue. The key thing for us is to free ourselves from one of the existing properties AND then find the source for deposit.
Any advice? Thanks.
 
Some banks will facilitate the carrying over of negative equity into a new purchase as long as you qualify for the new mortgage. Which bank(s) are you with?

PaddyW's right - you can't access your pension funds before retirement, which for many schemes is no earlier than age 50 except in a case of serious ill-health.

There is a scheme starting soon (assuming it passes into law) whereby one can access AVCs from a pension scheme early, but it's limited in its availability and even more limited in its appeal. I wrote a piece in yesterday's Sunday Business Post about it. You can read that piece [broken link removed].
 
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