The only commercial property agents to use in Scarborough, Malton and on the East Coast / Wolds & Ryedale Areas
Why choose Colin Ellis
As independent Estate Agents and Chartered Surveyors we can offer unbiased advice based on valuable local knowledge and experience
Request a free market appraisal today
If you are thinking of selling and want to get the right advice then all you have to do is call Tel: 01723 363565 or fill in the form below.
How does it work?
|Introduction||Repayment||Interest Only||Endowment||1st Time Buyer||Remortgaging||Buy To Let||Commercial|
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 take out enough tax free cash to repay the loan and provide you with a retirement income.
1. Has tax advantages as the contributions you make to the pension attract tax relief at the highest rate of tax you pay.
1. You must ensure your pension is well funded so that you have sufficient to repay your loan and provide for your retirement.
2. The lump sum is currently accessible from age 55 onwards which may mean you are paying interest on the loan for longer than 25 years.
3. There is a possibility that your pension fund may not have built up sufficiently to repay the loan capital at the selected retirement age.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.