What is Pension Mortgage?

If you happen to be self employed or have a private pension plan then you can link your mortgage with the pension fund. With this method you can pay off the mortgage fast with a lump sum of money. If your planning to utilize this plan that you should know that 25% of the pension fund can be utilized as tax free money and paying off the outstanding mortgage. The main negative side of this plan is that it will greatly lower the money what will is available for pension in retirement. But on the positive side there’s a tax relief option on your pension plan contributions.