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SIPP/SSAS Mortgages

SIPP/SSAS MORTGAGES

A tax efficient way to purchase commercial property for your own use, if you own a business or let to an unconnected party on a long-term lease.


POINTS TO CONSIDER WHEN COMPARING SIPP MORTGAGES AND SSAS MORTGAGES

  • Manual underwriting;
  • Can take longer to process due to the involvement of the pension trustee;
  • Does the lender have a centralised unit that is used to the trustee’s documentation;
  • If VAT on the building then you need to be VAT registered;
  • Repayment mortgages are the most common.

INFORMATION NEEDED

  • Three year’s accounts if an associated company will occupy;
  • Details of the lease if let to an unconnected party;
  • Trust Deed of Scheme.

PRODUCT TERMS

  • Minimum Loan £150,000;
  • Available on an interest only, full repayment or part interest and part repayment basis;
  • Loan terms vary from 5-30 years;
  • Not available for residential property;
  • Available to Small Self Administered Scheme (SSAS) and Self-Invested Personal Pension (SIPP);
  • Maximum loan of 50% of the net value of the pension fund.

Searchlight Finance Limited is registered in England and Wales No.07929050 Searchlight Finance Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (http://www.fca.org.uk/register) under reference 743220. The FCA do not regulate Business Buy to Let Mortgages or most Commercial Mortgages and Bridging Finance. ICO Number Z3109319. Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.

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