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First National offers commercial loans for Sipps

First National has introduced a commercial mortgage which enables

individuals to take advantage of the tax benefits of a self-invested

personal pension by investing in commercial property.

Its Sipp commercial mortgage allows policyholders to invest their pension

assets in commercial property and land, with no income tax payable on the

rent received by the Sipp and no capital gains tax to pay the later sale of

the property.

Loan to value ratios are based on a bricks and mortar valuation and can

reach 75 per cent of the property value.

The scheme is aimed primarily at purchasers of standard office, retail and

modern light industrial units, with likely borrowers including the owners

of businesses operating from the premises. The business tenant will pay

rent to the Sipp scheme under the terms of a commercial lease.

First National Commercial Banking director Jeff Watson says:

“Intermediaries can now source a Sipp commercial mortgage from a lender who

fully understands the commercial lending sector and their clients&#39

business. Having access to this new product will provide intermediaries

with a unique option.”

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