Royal Bank of Scotland is speeding up its commercial property transaction procedure in anticipation of a pre A-Day rush.RBS is offering pre-approved funding levels for commercial property investments into self-administered schemes, in conjunction with James Hay, Westerbys and Merchant Investors. The bank will marry IFAs with lenders, with RBS assessing loan feasibility. Through its local links with IFAs, pension funds and valuers, the bank says it can offer a more centralised process for approving funding. Sipp and SSAS transactions, which start before A-Day but see the loan funds drawn after it, are expected to be treated under the new borrowing maximum. The rules currently allow 75 per cent LTV for commercial units but this will change to 50 per cent of the pension fund after April 6, 2006. RBS warns that each investment should be considered under its own merits and not rushed through for tax reasons. RBS/NatWest associate dir-ector, Northamptonshire commercial banking Andrew Ellis says: “We are looking to demystify pre-A-Day lending. “We have matched comm-ercial developers with developments completing prior to April next year. By working with valuers giving us out- line valuations and rental incomes – a quote for lending levels expected can then be supplied to all prospective buyers.”
The JPMF overseas investment trust is to undertake a strategic review following the declaration of an 18.2 per cent holding in the firm by arbitrageur Carrousel Capital.
Financial markets are going through a short-term “sweet spot”, according to investment management firm Morgan Stanley Quilter. The firm says while everyone is focused on oil, there are opportunities that are in danger of being missed in financial markets, and investment portfolios should be positioned to take advantage of profit growth that is ahead of […]
Axa is calling on the Treasury to delay A-Day plans to widen the range of investments available to Sipps until the products become regulated in 2007. The provider is concerned that estate agents are promoting residential property in Sipps without mentioning the potential risks and downsides. Although Sipp investors can hold residential property in their […]
Positive Solutions’ charis-matic chief executive David Harrison really does insist on an open forum with his IFA partners. At the annual confer-ence last week, Harrison felt it necessary to share with the 1,000-plus audience that a recent spell of medication had tampered with his digestive system. Seems the reason for taking them in the first […]
These days, with comparison sites and price competition, it can be hard to see what sets some policies apart. By recommending cover that offers more than a financial payout, you could be giving your clients more than they expect. We know it’s important to do things differently. That’s why all our protection plans available through […]
- Top trends
- Top trends
- Revealed: Fidelity International director investigated over harassment claims
- Lifetime allowance 2018/19 increase confirmed but pensions absent
- How much are advisers charging for pension transfers?
- Steve Bee: Why still no justice for Waspi women?
- Robert Reid: Don’t let social media comments diminish our profession
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Claims management companies must be more specific on separate permissions and competency when they under the remit of the FCA, according to HM Treasury. Under rules proposed in the Treasury’s latest consultation paper, claims management companies will operate under six sectors – housing disrepair, industrial injuries disablement benefit, personal industry, financial products and services, criminal […]
Knowing what assets each operator will accept and with what conditions is becoming increasingly difficult The recent well-publicised events concerning Sipp operator asset acceptance have focused the mind of a number of advisers. We have been fielding enquiries about our own Sipp and the asset classes we as a Sipp operator would consider. But this […]
Investment trust sales may come under pressure due to new EU rules, experts have warned. The potential benefits of gearing on investment trusts risk being overlooked as new cost reporting rules make them look more expensive compared with open-ended funds. Traditionally, closed-ended funds have looked attractive based on lower costs compared with other structures, as […]