A government minister's suggestion young people be allowed to get on the housing ladder using their pension has been panned by industry professionals, who have argued the policy only stores up trouble for the future.
Young people should be allowed to dip into their pension pots to fund the deposit for their first home, housing secretary James Brokenshire (pictured) said in a speech. Speaking at think tank the Policy Exchange, he said: "We should be looking at allowing an individual to use part of their pension pot as a deposit on a first-time home purchase. "We should be changing the necessary regulations to allow this to happen - protecting the integrity of pension investments but allowing lenders to innovate and design new products to bring this opportunity to consumers." The Tory MP for Old...
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