50% Loan to value – maximum allowable under pension rules
Interest Rate 3.67% over base rate
No Arrangement fee
15 year term
Our clients ran a firm of Independent Financial Advisers who had out-grown their current rented premises.
After much searching around they had located a property which suited their purposes and had started to shop around to try and find the best mortgage deal they could get, but were getting frustrated at a lack of response/ understanding shown by some of the High Street banks they had approached.
After an initial conversation with us it became apparent that they both had decent pension pots and purchasing the premises through the pensions could prove to be tax efficient.
We have good relationships with a breadth of lenders and understand what sort of clients/ loans they will and won’t consider. Using this knowledge we approached those we knew would lend to SIPP’s.
We arranged a Commercial Mortgage loan to the clients pension scheme of 50% of their value, on very flexible terms which enabled them to buy the property in the most tax efficient way possible.