The sales and marketing director for the pensions firm said the new service was available for investors who do not need to borrow and wish to place commercial property within their Sipp or small self-administered scheme.
She said: “This will offer much value to our advisers and their clients. We wanted to provide a service that would support our clients in this area and make property transactions as efficient as possible.”
At present the average transaction period is approximately eight weeks but Msd Stewart said the service will see reduce the time to within four weeks.
She added: “Property has remained a popular long-term investment for a number of reasons. Any growth in the value of the property will be tax-free while it remains in the pension and any rent paid to the pension in respect of the property can be used to provide benefits.
“Many business owners choose to place their premises into a pension, which can often aid the business through a period of difficulty and offer longer-term rewards.”
Meanwhile James Hay Partnership has formed an affiliation to offer instant electronic valuations from with IntelliFlo’s award-winning Intelligent Office system to help advisers reduce time and costs.
Tim Sargisson, managing director of James Hay Holdings, said: “The Intelligent Office system has been adopted by a number of adviser businesses that have clients with James Hay. The integration confirms our commitment to delivering efficiencies and cost reductions for our advisers.”
Adviser Tweet
Jeff Steedman @JeffSteedman1: “There are many good Sipp providers in the market who do not charge any Sipp set-up fees so advisers should look around the market.”
