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Old 10.09.2019, 14:06
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Re: Property purchase rules 10% cash and 10% pension...?

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Hey, so a quick one.. Normally you need to have 10% cash and 10% pension money for the purchase of property.. What if I found something which could be covered easily by the pension money? It would easily make up 20% of the needed funds for example... Is that allowed?

No, it's up to your bank to ask for what they want, but as a rule of thumb you need a minimum of 10% in cash, it is far too easy to put down the 20% only in pension money.

And dont forget, you can only spend it once, so when you get to pensionable age, the less you will have

Your age will also play a role in the amount you can use i believe.
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