Question:
My ex-husband built a house for the kids and me to live in, but he built it in his mother's yard and it's not finished yet. I would like to know if my pension fund will borrow me money to finish it, even though the house is not in my name?
Answer:
Ilze,
Housing-related loans are permitted by the Pension Funds Act, provided your fund's specific rules also permit this. However, one of the conditions is that the property must belong to you or your spouse. A property erected in the yard of your mother-in-law does not seem to fall into this category as this will appear as an addition to her property. Ultimately anyone could stay there, so the loan would not be to your or your children's benefit.
The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.
