Self Invested Pensions
Self Invested Pensions allow you to take over the investment decisions for your plan. You can invest your fund in to any of the following:
•Commercial Property
•Deposit Accounts
•Investment Trusts
•Insurance Company Funds
•Unit Trusts
•Stocks & Shares Traded on a recognised Stock Exchange
Using Your Pension to Buy Property
Having been a founder of a local pensioneer trustee firm the directors are well placed to give you the current position regarding pensions and property purchase. Favourites Finance Ltd also has pension transfer qualifications and so can take you through the whole purchase process from start to finish. Day to day contact with Her Majesty’s Revenue & Customs gives us this unique insight.
Typically you might get the opportunity to buy the freehold to commercial premises. You might not want to ask the bank for a loan as they could require too much personal security from you. Your pension fund can be used to provide the deposit to acquire the property. Using a Self Invested Pension Plan (SIPP) the pension takes on the mortgage and buys the building on your behalf.
Please contact us for a fuller discussion about your own objectives.