If it's a pension mortgage, it's his pension fund that owes the money, and owns the property.
So if it was sold for 190k, the bank would get their 100k, and his pension fund would be left with 90k.
Because there's a pension involved, he really should get advice.
Ah, indeed. All the more reason to get advice! It looks like there were different ways this could have been done.I’m not sure that’s correct.
As far as I know, pension mortgages are arrangements where the individual owns the assets and borrows the money, and the exit is by way of the loan being cleared with pension monies.
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