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It's a good idea to be cautious as this wouldn't be suitable for everyone but for a lot of us we are not in a position to max out the LTA anytime soon but if you have reached the cap of £1.1m then congratulations I guess. I would also say it would be a good to run this idea past another paid financial advisor to get their take on it before making a profound change they could influence your future financial prospects.
Whilst rules can change as it stands you would likely be better off doing this overpaying your mortgage just because the tax savings makes it a very efficient of saving money.
There is a lot to take into account, like price of proper ppty, time period to service interest, interest amount you can put in ,mortgage overpayments etc. The best way would be to workout your breakeven point for time periods and money. Then the wage increases you'll get over mortgage length etc... it becomes very complicated maths.
You can offset it if you are able by renting out the property.
The you need to think about how your pension grows.
Also your risk level, but you should never take a risk with your home.
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