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&#39Sipp step towards buy-to-let regulation&#39

Charcol senior technical director Ray Boulger says the Government&#39s decision to allow buy-to-let mortgages to sit in a Sipp could be the first step towards the product being fully regulated.

Boulger told Money Marketing this week that he believes the FSA has made it clear it thinks BTL should be regulated and he thinks allowing BTL loans in a Sipp could be a “back-door way” of bringing them under FSA rule.

He says: “The situation will be very interesting if buy to let properties are put into a Sipp because Sipps are already regulated by the FSA. If you have a property in a Sipp and a mortgage on that property, then it will be interesting to know whether the FSA will consider its regulatory requirements will mean it has to look at the mortgage.”

Boulger also says if the FSA looks at a firm doing both regulated and non-regulated business it cannot ignore the non-regulated business as this could have impact elsewhere.

•Interview, p8

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