Your house is your pension... Your house is your pension...
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  1. #1

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    Default Your house is your pension...

    “If a couple could combine their pension wealth, both potentially using a proportion to support a deposit, this would make a huge difference to millions of lives,” he argued. “It would give people real choice, real opportunity.””

    Brokenshire criticised for suggesting first-time buyers dip into pension | Society | The Guardian


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    Quote Originally Posted by AtW View Post
    “If a couple could combine their pension wealth, both potentially using a proportion to support a deposit, this would make a huge difference to millions of lives,” he argued. “It would give people real choice, real opportunity.””

    Brokenshire criticised for suggesting first-time buyers dip into pension | Society | The Guardian

    Isn't this actually "Your pension is your house"?

    Most young peoples pension wealth is approx zero though.
    I was miserable and depressed, but CUK turned it all around. Now I'm depressed and miserable.

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    Quote Originally Posted by DimPrawn View Post
    Isn't this actually "Your pension is your house"?

    Most young peoples pension wealth is approx zero though.
    “The average person aged 35 to 44 has a total pension wealth of about £35,000, Brokenshire said.”

    Average... among Eton/Oxbridge grads

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    With housing you cannot seem to go wrong.

    Pension pots you have to be careful of. Look at LCF.....

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    [QUOTE=BrilloPad;2652140]With housing you cannot seem to go wrong.

    QUOTE]

    Until the next GE and we have a Corbyn led Labour government

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    Quote Originally Posted by Yorkie62 View Post
    Until the next GE and we have a Corbyn led Labour government
    It would be one good thing Corbyn would do.

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    [QUOTE=Yorkie62;2652147]
    Quote Originally Posted by BrilloPad View Post
    With housing you cannot seem to go wrong.

    QUOTE]

    Until the next GE and we have a Corbyn led Labour government
    yes and they introduce their proposal to base council tax on the value of the land your house sits on

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    Quote Originally Posted by JohntheBike View Post

    yes and they introduce their proposal to base council tax on the value of the land your house sits on
    Dude, you live in Wales. They'd end up paying you.
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    Former member of IPSE.

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    Quote Originally Posted by AtW View Post
    If a couple could combine their pension wealth, both potentially using a proportion to support a deposit
    In Switzerland you can do exactly this. There are exploitable pensions - company and private. Yearly payments into private are up to 20% of your income if you don't have a company pension, or a few grand if you do.

    You need a 20% deposit. But you can pledge some or all of you pension money up to the first 10% of the deposit when you apply for a mortgage. They the add that amount to your mortgage, but payable at a lower interest rate. If you default - bye bye pension. Or you can cash in the pension at a low tax rate and reduce your mortgage directly. You can only cash in your pension if you're buying a house, reducing your mortgage or building a house.

    So you can use your pension, but the deposits required are much higher than the UK and the amount of your pension you can use is limited. I'm not sure that the UK would have those safeguards.
    Hmm. I'm beginning to suspect that you need to find all the packing the computer came in...

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