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16 January 2014
Xafinity, one of the UK's leading specialists in pensions and employee benefits, has reported a record year for commercial property and land investments within its SIPP and SSAS products. 2013 saw a record number of property purchases; an increase of over 43% on 2012.
Xafinity now holds over 1200 UK commercial properties within its SIPP and SSAS portfolio, with a strong pipeline of new business showing a further 60+ properties expected to complete shortly.
Xafinity predicts continued growth in the market for property purchases via SIPP and SSAS in 2014.
Andy Bowsher, Director of Self Invested Pensions at Xafinity commented: “2013 has been another really strong year of growth for Xafinity. This has been driven by our dedication to the financial adviser sector, and putting the customer at the centre of everything we do. We’ve also been able to use our scale and really effective relationships with solicitors to make property investment affordable - we provide market leading value alongside our standard excellent service.”
Jeff Steedman, SIPP & SSAS Business Development Manager at Xafinity, commented: “We continue to see high levels of activity in the SIPP/SSAS market with property investment remaining a firm favourite with directors of SMEs. Using their pension fund to buy the business premises often frees up other cash to invest in other parts of their business or reduce existing borrowing.
However, there are many thousands of directors of SMEs out there who don’t even know that their pension fund could buy the company premises. It is up to financial advisers, accountants and other professionals to regularly review their clients’ pensions and explore opportunities for their pension to ‘self-invest’ into their company for the benefit of the individual and their company.
Financial advisers and clients will also recognise that property and land prices are starting to move and now may be a good time to consider bricks and mortar. With a good tenant, often their own company, in place, property investment via pensions can provide a solid investment for clients.
Of course, this is a complex field and financial advisers will want to ensure that they select a SIPP/SSAS provider who can offer flexibility, efficiency, decades of experience and great value services in this area.”
For more information:
T: 020 3125 7024
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Xafinity SIPP Services Limited is authorised and regulated by the Financial Conduct Authority. You can check our FCA authorisation here. Our reference number is 461791.