Phone:0121 681 6833 | enquiries@birminghamifa.co.uk
Pension
How does it work?
You make two payments per month. One to the lender to repay the interest on your borrowings and another into a personal pension plan. The plan is to build up your pension fund sufficiently to repay the loan and provide you with a retirement income.
ADVANTAGES:
- Has tax advantages as the contributions you make to the pension attract tax relief at the highest rate of tax you pay.
DISADVANTAGES:
- You must ensure your pension is well funded so that you have sufficient to repay your loan and provide for your retirement.
- The lump sum is paid on retirement which may mean you are paying interest on the loan for longer than 25 years.
- You cannot access the pension fund to repay the mortgage until retirement age.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
For mortgage advice you can choose how we are paid. We can either accept commission from the lender or, you can choose to pay on a fee basis. Should you choose to pay a fee we will usually charge £395. We can also arrange a combination of these options.
Mortgage & Equity Release
Mortgage Calc
Company address: Evans and Associates Financial Planning -
PO Box 15593, Birmingham, West Midlands, B32 9FR
T: 0121 681 6833
M: 07976 510972
F: 0121 336 1836
Email: enquiries@birminghamifa.co.uk
Evans and Associates Financial Planning is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Services Authority and registered in England and Wales No.3406454
Trinity 3, Trinity Park, Solihull, Birmingham B37 7ES.
Evans and Associates Financial Planning is entered on the FSA register (www.fsa.gov.uk/register/) under reference 517147.
The FSA do not regulate National savings products, loans, Will writing and some forms of mortgage, offshore funds and inheritance tax planning.
The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.