Many prospective purchasers of commercial property may be unaware that they are sitting on untapped capital which may well be available to assist them in a purchase. This is a reference to personal or company pension plans. If there is an insurance company pension plan in existence then it may be quite possible to unlock these funds via a Self Invested Personal Pension (SIPP) or a Small Self Administered Scheme (SSAS). Once the trust has been set up via a SIPP or a SSAS then the scheme may do one of the following:
Purchase a commercial property outright. The pension scheme will own the proper...
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Many prospective purchasers of commercial property may be unaware that they are sitting on untapped capital which may well be available to assist them in a purchase. This is a reference to personal or company pension plans. If there is an insurance company pension plan in existence then it may be quite possible to unlock these funds via a Self Invested Personal Pension (SIPP) or a Small Self Administered Scheme (SSAS). Once the trust has been set up via a SIPP or a SSAS then the scheme may do one of the following:
Purchase a commercial property outright. The pension scheme will own the property and receive rent from the tenant. The scheme may borrow additional funds if necessary to facilitate this transaction. Lend money to the purchasers company to help with a purchase. (SSAS arrangements only) Purchase a property jointly with the individual concerned.
In spite of what people say, SSAS and SIPP arrangements are simple to set up but it is important to deal with a firm which specialises in this work as most high street brokers and insurance companies may offer this service but do not have the resources, or the know-how, resulting in avoidable delays.
We would be pleased to put you in touch with a firm that can act promptly and professionally.
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