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Property Purchase for Pension

  • 26-02-2016 1:15pm
    #1
    Jesper
    Registered Users, Registered Users 2 Posts: 817 ✭✭✭


    I'm the director of a company (single employee/contractor) and I'm considering buying a property through my pension as a pension plan. It's more complicated than a normal pension and fewer providers of the service.

    I am wondering has anyone else done this before. What is their advice/opinions/discussion on it.
    The property in question is <100k apartment and I am going with a fellow investor.
    Tagged:


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,762 ✭✭✭✭Atlantic Dawn
    M


    What happens if you or fellow investor wishes to sell apartment?


  • #3
    KK4SAM
    Registered Users, Registered Users 2 Posts: 736 ✭✭✭KK4SAM


    I have one, Ideally one would buy when houses were cheap with a cash lump-sum the the full rental income was your pension contribution less the Service Providers fees and maintenance costs.You can not use the property for you own use or that of a relation/friend.Strictly the rental and management is to be carried by an agent.But I would still have more questions than answers.
    Can you maintain the status quot after you retire and just take the Rental income as Pension and leave the property in tact as your Lump Sum and the then dispose of that when the market improves.
    My pension was halved overnight with negative equity.
    The deeds will be in the name of the Trust Company and you are jut a trustee.
    You are at the mercy of the Service provider in relation to legal fees you pay full rate as apposed to paying as an individual.I am sure you will pay full fees on exit also.If the company is doing well that's no problem.Great thread looking forward to the debate.


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