SIPPs: Taylor Patterson cut fees for SIPP property transfers

Posted on August 21st, 2014 | Categories - News

SIPPs: Taylor Patterson cut fees for SIPP property transfersMany investors, often because of poor service, which is unfortunately becoming increasingly common, lack of flexibility or high are now considering moving to a new SIPP provider.

Transferring your SIPP (Self-Invested Personal Pension) generally incurs costs; exit fees, initial charges, and so on; in most cases these are generally not prohibitive. But it’s a different story if you hold a commercial property.

Contact Taylor Patterson

01772 555 073

kerry.houghton@taypat.co.uk

Property investors looking to move their SIPP are often hit by additional costs, including legal fees, which can make a transfer to a different SIPP prohibitively expensive. Investors are often therefore left with a stark choice, stay with their existing SIPP provider, who are perhaps providing an inferior service or transfer and incur significant cost.

It’s therefore welcome news that Taylor Patterson, has announced it is cutting its fees for property transfers.

The special offer includes

  • The property purchase fee, normally £650, has been removed completely
  • A fixed fee package with their nominated solicitors

The offer will run until 31st December 2014 and assumes there is no borrowing in place and one tenant. For cases outside of their criteria Taylor Patterson will still offer a fee reduction, calculated on a case by case basis.

Other charges, such as the annual fee, which may be higher or lower than your existing SIPP provider, will still be charged.

Commenting on the offer, Gillian Bardin, Managing Director of Taylor Patterson, said: “We’ve introduced this offer as a direct response to pleas from advisers to help them move schemes away from troubled, problematic or struggling trustees. Understanding their relationship with their own clients we wanted to try and make the transfer process as painless as possible. ”

Bardin continued: “Obviously investors need to be happy that they are making the right decision if they choose to change SIPP provider, which is why we pride ourselves in making all members of the team available for questions from clients or introducers and firmly believe this open architecture is the corner stone to the high levels of service we offer.”

Who is Taylor Patterson?

Founded in 1979 Taylor Patterson is a leading provider of self-invested pensions, offering a range of SIPPs and SSASs (Small Self-Administered Schemes).

Based in Preston, but offering services throughout the UK, Taylor Patterson run pensions with assets of over £150 million and are specialists in commercial property purchase via a pension.

For more details of special offer contact Taylor Patterson on 01772 555 073 or email Kerry Houghton on kerry.houghton@taypat.co.uk.

Leave a Reply