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Pensions for Mortgages

Thursday, November 29, 2012

Nick Clegg recently announced a new government idea to allow parents to use their pensions to help children onto the property ladder. 

It appears that individuals who have not yet retired would be able to use the lump sum available to them on retirement to guarantee part of a mortgage taken out by their children or grandchildren.

These measures could be in place by April 2013 (although legislative changes would be needed to allow this to happen).

Thank you for all your assistance in helping to meet the deadline for the capital reduction exercise – your professionalism and friendly approach was appreciated.

Finance Director - Leading UK Company

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