NEWLY AVAILABLE FROM TOWERS PROPERTY; - PURCHASE THROUGH A SIPP

Towers Property is constantly looking to find products that provide clients with a choice of how they make their land purchase.

Land can now be purchased either directly with new funds or from existing pension funds via a SIPP (Self Invested Personal Pension)

Options for Payment

The current portfolio offers clients a number of methods of purchase: cash, equity release or a Self Invested Pension Plan (SIPP)

Cash or Released Equity:

Clients with 'liquid' (accessible) capital reserves, typically savings, stocks and shares, bonds, can purchase using this capital. A simple process of transferring funds, via the bank or a cheque to Towers Property solicitors escrow account on signature of the contract. On transfer/payment of funds all clients are required to comply with money laundering regulations and provide certified copies of their passport and a current (less than 3 months old) utility bill.

Self Invested Pension Plan (SIPP):

A Self Invested Pension Plan is a form of pension plan where the client chooses where the funds are invested. Many SIPP providers are approving property, land purchase and alternative investment opportunities. This means that Clients can use part of their private pension to make acquisitions. Clients looking to the SIPP route for a property or land purchase must consult our regulated advisor, who will assess their current pension arrangements and advise whether a SIPP is appropriate.

Establish current personal pension and protect right funds
Complete application process with an appropriate SIPP provider
SIPP provider will request the transfer of existing funds to the SIPP account
Legal agreement signed by Client, SIPP provider and Towers Property
SIPP funds transferred in line with the contract instruction