Smartfinance pension adds a commercial option

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Bank of Scotland's Smartfinance has launched an offset commercial mortgage for the pension fund market.

Claiming to be a UK first, the new product enables businesses to use the cash element of a small self-administered scheme (SSAS) or a self invested personal pension (SIPP) to offset against a commercial mortgage according to Bank of Scotland. Bob Stitt, business development executive, at Bank of Scotland Corporate says: “Since launching smartfinance we have received excellent feedback from IFAs and those working in the financial services industry. For the first time they have been able to provide their clients with the option to fund their commercial property in an efficient way. Accor...

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