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Old 08.06.2017, 07:48
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Has anyone actually used their pension pots for home renovations?

Hi, we are planning some major renovations on our home, and I would like to pay for the work from my pension pot. I know this is possible, but has anyone actually done it and could let me know the practicalities? These are things Im unsure of:

1) The bills for the jobs will come during a prolonged period of time. Do we need to pay for the renovations upfront and then claim the money back? Or can we withdraw the money from my pension pot before the bills start coming in.... against a builders offer for example?

2) Do we need to be mindful of running up lots of fees from the pension company by accessing the pension pot?

Cheers, Andy.
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