Jump to content
House Price Crash Forum
Sign in to follow this  

Can Sipps Reduce Personal Debt?

Recommended Posts

I have a mortgage of 50k on a property worth several times more, together with a private pension fund of 100k. I have my own ‘1 man’ Ltd company, that has the residence as its official address.

First my selfish question:

By transferring this PP fund into a SIPP, can I:

Either; buy a portion (room, annex, outbuilding) of my own residential property in order to offset my mortgage, under the genuine guise of rentable premises for use my Ltd Company.

Or; buy a portion (room, annex, outbuilding) of my own residential property in order to offset my mortgage, under the guise of rentable premises for use my own private use.

Now my general HPC question:

Whether yes or no to the above question, is there any way people, with private pension funds, can alleviate their own debt burden and help get the Government out of the impending recession hole, by freeing up their own money.

As ‘an out and out’ cynic, I’d guess it wouldn’t be permitted. I guess if it lowers people’s debt and frees them from financial shackles, then Crash Gordon wouldn’t be interested.

I suppose it’s alright for the wealthy to free up even more money, to further line their own pockets, but it’s not alright for me to seek peace of mind. No scam, I just wish to use my own money to pay off my own debt!

I know a pension is serious and one shouldn’t dabble with it unnecessarily, but Gordon did, the City did, both to my detriment. And heh, we heading for UK plc meltdown, so why can’t I dabble with it, just like the big boys? Any thoughts?

Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.