Buying a house with a pension

[IfIShouldFallFromGraceWithGod]

Currently working but I can draw my pension. I can take 25% tax free which would give me a deposit then a monthly income which would pay a mortgage and increase my income
Has anyone done this, is it possible

I think there was something about this in Telegraph Money section last Saturday, a Building Society was mentioned who are happy to loan on this basis up to age 99 (I think) I have thrown my copy away not but the article was one of those single page tackle a problem articles. Maybe someone else on here will have a copy or you could contact them to get one, there were several options explored.

Yes it is possible. You would take your pension plan to the mortgage company and they would let you know what they could lend and how long for. As a PP said, doing it based on your private pension means you can have a mortgage term beyond retirement age.

It works similar to when they base it on your wage. Whatever you would draw out annually, they would multiply it by 3 or 5 (depending on the lender) and let you borrow that.

I take it you're 55 or older? In that case, you will also get your state pension in 12 years I believe?