Sipps clarity exposed again

Under the new laws enforceable from next year, an individual will be able to borrow up to 50% of their pension fund's value in order to buy property. However, the Inland Revenue has not yet confirmed whether this 50% gearing of assets will be before or after the purchase occurs. Damien Davis, founder of the paraplanning outsourcing business Timebank UK, says wording from the Revenue suggests it applies only to 'post-completion' assets, meaning the loan can only be secured on the property at completion, adding further scope to established schemes involved with property purchase. Citing...