Hi all, new to the forum so please excuse any poor etiquette! I'm 55, working part-time and looking to start drawing down on my pension (SIPP) in about a year's time. We currently own our own home without a mortgage, it's probably worth about £600k, but would like to see if we could borrow another £150k so we could buy a bigger place as we may well need to house ageing parents! As the pension would be our only source of income, would this be possible? For reference , the pension pot is around £800k.
All advice appreciated.
