Killik & Co, the stock broker and advisory firm, has launched a loan facility for its FlexiSIPP clients allowing them to borrow up to 50% of their portfolio's value.
The facility responds to A-Day changes which allow SIPP investors to take out a loan of up to half the value of their fund to invest in permitted pension investments. Killik & Co says the tool will particularly appeal to people looking to increase their pension just before retirement. The Bank of Scotland backs the facility, which has seven year term with a 1.65% interest rate charge above the Bank of England base rate. Malcolm Cuthbert, managing director of financial planning at Killik & Co, says people borrowing £100,000 at the combined base rate and Killik & Co interest rate of 7.4% w...
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