Gen H can accept up to 25% of the current or projected pension value, or 100% of any tax-free lump sum, as a repayment vehicle.

Requirements:

• The maturity date of the mortgage loan must occur after the applicant(s) are eligible to draw down funds from their pension(s)
• For projected pension pot value: The combined current or projected pension value for each applicant must be at least £300,000
• For lump sum: The combined current or projected lump sum value for each applicant must be at least £100,000
• Where a statement provides a range of projected values, the middle value must be utilised. If only two figures are provided, the lower figure must be used
• Where the projected value of pensions is utilised and this relies on continued contributions, these contributions must be included as a financial commitment
• Where pensions are being used as the repayment vehicle, they cannot also be used as income