Buying a house: how does it affect your pension?

Buying a house? Your pension will be factored into that. In fact, your pension accrual may affect the mortgage you can get. 

If you want to buy a house, mortgage lenders will also look at your pension accrual. They will want to know if you have enough income to pay your mortgage – even if you stop working.

Summary of pension accrual

That is why mortgage providers often ask for an summary of your pension accrual. We call this a Uniform Pension Statement (UPO). If you have a pension with BeFrank, you can find the summary of your pension accrual on your personal pension page. 

NB: the UPO always relates to the previous year. For example, by 1 October 2021, you will receive the UPO for 2020. If you did not yet accrue a pension with BeFrank during the previous year, contact your previous pension administrator for your UPO. If started accruing pension in 2021, you will receive your first UPO in 2022.