Property for Pensions

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clueless

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I just wondered if it i a good idea to buy property to make up for a pension shortfall. A friend of mine sent me information about a company in England called Prosperity Property for Pensions who will let you build up a deposit with them over a period of time and keep a flat/house for you until you have that money collected. Then you buy the property off them and they rent it out for you. It seems to be a very good deal.
 
clueless said:
I just wondered if it i a good idea to buy property to make up for a pension shortfall. A friend of mine sent me information about a company in England called Prosperity Property for Pensions who will let you build up a deposit with them over a period of time and keep a flat/house for you until you have that money collected. Then you buy the property off them and they rent it out for you. It seems to be a very good deal.
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Always be wary of deals that look too good.

Never heard of this company and if you want to buy a property through a pension in Ireland, I doubt they are authorised under the Central Bank, so you won't get any tax relief.

If you want to buy a property through a pension, you will need at least a 30% deposit and have to pay off the mortgage in 15 years. That's a big commitment.


Steven
www.bluewaterfp.ie
 
Check out their website

http://prosperityfund.co/

At Prosperity, we passionately believe that property should form the basis of any pension plan, which is why we are dedicated to providing an affordable way for our clients to access UK property as an income producing tool.
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Very few investment or pension experts would agree with this.

It sounds to me that they are a property company trying to sell property.

Avoid.
 
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