SIPP and SSAS loans

• A choice of interest rate types – fixed or floating (linked to the Barclays Bank Base Rate) or a combination of both. Fixed rates are available for up to 10 years. If you cancel or chose to repay your mortgage early, breakage costs may apply
• Lending available up to 50% of the net value of your pension fund
• Payments on a capital and interest basis
• We will have first legal charge over the property
• Arrangement, valuation, security and prepayment fees, and associated borrowing costs will apply

1. E-mail us now at nationalpensionsdebt@barclayscorp.com to request a SIPP or SSAS property loan.
2. We’ll instruct a bank-approved partner to value the property. We’ll let you know how much this will cost in advance, and it’ll be non-refundable.
3. You or your independent financial advisor (IFA) give us 3 years’ financial accounts for the company that will rent the property.
4. We’ll then assess the mortgage against the 3 items above.
5. If approved, we’ll send a facility letter to your pension provider and the legal paperwork to solicitors.
6. The facility letter is agreed by everyone and returned to us.
7. Signed legal paperwork and a Report on Title (ROT) is sent to us by the solicitors.
8. We’ll review all the documents.

To apply for this type of property-backed, pension-linked borrowing, you’ll need to have set up either a self-invested personal pension (SIPP) or a small self-administered scheme (SSAS). You can do this through a professional provider or an authorised IFA.

Our specialist pensions team will provide more information about the lending criteria and process involved in a SIPP or SSAS property loan, and will work with you to structure a loan that meets your financial needs. They’ll also discuss our savings products, which may be of interest to you.

As SIPP and SSAS are types of pension, you should discuss their suitability with an IFA, and ask for advice on the effect they’ll have on your pension plan and investment structures.