PensionsMay 15 2013

Launchpad: Sipps

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Andy Bowsher, director of Sipps at Xafinity, said: “This offer significantly undercuts the market and reflects Xafinity’s commitment to be a leader in the bespoke SIPP space. We can present this offer through a combination of our expertise, efficiency, and also our strong position with our highly regarded panel of solicitors.”

Mr Bowsher added that the company had seen an increase in demand for commercial property investment through Sipps, particularly from independent businesses, amid restricted bank lending to companies for expansion.

Offer particulars:

The charge of £1500 will apply to all property transactions between now and 29th November. Investors could save between £650 and £2000 compared to usual costs.

The set price covers Xafinity’s property purchase fee or transfer fee, as well as solicitors’ fees

It does not include VAT or any associated costs, which may include stamp duty land tax, Land Registry fees, company registration fees on mortgages, surveyors fees, seller’s legal fees and exit fees from existing pensions.

Xafinity Sipps is a core business of the pensions and employee benefits company Xafinity Group.

ADVISER COMMENT

Keith MacDonald, financial planner for Worcestershire-based Broadway Financial Planning, said: “This is very reasonable compared to competitors – property Sipps are not in the mainstream but if you considering it appropriate for a client, you have to look for the lowest expense option that’s consistent with clients’ objectives, because extra costs can be a big consideration.”