© CMG London mortgage advisers

 PENSIONS

Advantages

* Tax relief on payments.

* Part of the fund can be taken as tax-free cash, which is used to repay the mortgage.

* Favourable tax treatment of funds.

*A sum can be built up which can be used to provide an income in retirement.

Disadvantages

* Benefits can normally only be taken between ages 50 and 75 (from age 55 from 2010).

* The amount of tax-free cash you can take is limited by legislation.

* Using the tax-free cash to repay your mortgage will reduce your pension benefits.

* As the pension is designed primarily to produce income in retirement you will need to actively monitor any targeted cash amount to repay your mortgage.

* There are limits on pension payments.

HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

 CONTACT US

Please enter your details into the form below, and you will be contacted by a professional & regulated mortgage adviser from CMG will call you back:

Title :	-- Select -- Mr Mrs Miss Ms Other
Forename :
Surname :
Daytime Telephone Number :
Mobile Telephone Number :
Email :
The internet is not a secure medium and the privacy of your data cannot be guaranteed. Tick this box if you do not want your details to be stored on our database, which may then be used for marketing purposes.

Head Office: Capital Management Group Mortgage Brokers, Times Square - Mellon Financial Centre, 160 Queen Victoria Street, London, EC4V 4BD. UK