paddyjnr,
{Middle of repossession}
If that means you can walk away from negative equity ,that seems ok.
If not please get advice.
{can Bank touch your pension}
It sounds like you will in any event have little nuff to live on so I do not see Bank chasing any pension or pension income.
{ lose a sizable amount for drawing down}
You will not lose one penny , but since you are taking a pension at the young age of 47 , your monthly pension will be a lot less than if you take a pension @ 67, due simply to old -age.
You need advice on pension , can you talk to provider etc.
You need advice on reposssion, can you talk to some one who can help?