Software developer Dunstan Thomas has launched a new product to meet an expected explosion in commercial property transactions sparked by new rules for SIPPs.
Imago:Property Management is billed as a solution to new rules coming into effect on A-Day, 6 April, 2006, which limit gearing on commercial property purchases to 50% of the value of the SIPP, down from the current maximum of 75% of the value of the fund. DT expects the change to drive a sharp rise in the number of transactions ahead of the deadline, and is pitching the software to IFAs, fund managers, administrators and commercial property managers. The example given is of a SIPP with net assets of £200,000 currently able to borrow £600,000 - which would be 75% of a total fund worth ...
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