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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.

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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