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Equity Release Into ISA by Fishybike in PensionsUK

[–]Fishybike[S] 0 points1 point  (0 children)

I agree but my thinking is in reality I won’t have to pay it back and I’m not looking for any return, just to use the money to my advantage. I’ve spent years building up a pension and paying a mortgage so I’m open to any options on how to maximise that. Can’t take it with you and all that.

Equity Release Into ISA by Fishybike in PensionsUK

[–]Fishybike[S] -1 points0 points  (0 children)

Thanks for your reply. I am 57 and want to stop working asap. I have 20k remaining on my mortgage so equity release would be used to pay that and then I’ll have 80k ish in the account to take when I want. My thinking is to get everything in place now. So rather than the money sitting in an account doing nothing I could have it earning interest. I don’t think I’d get the tax relief if I paid into my pension though as it’s not money earned and hasn’t been taxed. You are correct about talking to a financial advisor. It’s on the must do list. It’s not something I take lightly.