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Paragon and James Hay in Sipp deal for BTL investors

Paragon Mortgages and James Hay are creating a joint venture to provide a range of Sipp products to buy-to-let investors.

The firms will help investors who want to place residential property investments in their Sipp once the rules for qualifying assets are implemented from April 6, 2006.

But Paragon managing director John Heron says the industry’s ability to develop tailored solutions is hampered by the lack of detail from the Government. He wants the Government to announce the precise basis on which residential property can be held in a Sipp after April 2006.

Heron says: “Gordon Brown did not give much away in the Budget. We have been in touch with the Department of Work and Pensions. They told us at this stage not to expect anything to be published until September. From a lender’s perspective, this is not a lot of time until April.”

James Hay managing director Jan Regnart says: “Partnering with Paragon makes a lot of sense, giving us access to their expertise in residential property investment as well as a good source of potential business.”


F&C begins to stem outflows

F&C grew its operating profit by 16.4 per cent in 2004 despite a third consecutive year of net outflows that have seen the fund company lose 19bn of assets.

Harris on Mortgages

In a vote-winning gesture, Chancellor Gordon Brown announced the rise in the stamp duty threshold from 60,000 to 120,000 in last week’s Budget.

Event horizon

Last week, I looked at the Inland Revenue onslaught on the use of capital redemption bonds which sees corporate-held CRBs taken outside the chargeable-event rules. What will this move mean in practice?

Investec to acquire 47 per cent share in Rensburg

Investecs private client subsidiary Carr Sheppards Crosthwaite is to buy 47.7 per cent of Rensburgs shares, making the UKs seventh largest private client manager with 10.3bn funds under management. The new firm will be called Rensburg Sheppards.Investecs interest in Rensburg was first announced on 10 December, 2004. But in January Rathbones made an offer for […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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