Arranging a pension through a business

John's Story

I had a pension that wasn’t performing as well as it could, and I was keen to alter it. 

In addition to that, my business had grown to the extent that my leased premises were no longer adequate. I found a new-build property that was ideal, and approached Ebor to help with acquisition and funding. 

I was already using a financial adviser, but they weren’t able to help with the purchase of the building. I was also aware that their exit fees were high and the more I looked into it, the more it seemed as if it was set up to benefit the adviser rather than the client. 

Arranging a Self Invested Personal Pension

Ebor identified that the best way forward would be to purchase the property as part of my Self Invested Personal Pension (Sipp). A Sipp can raise a mortgage to part-fund the purchase of a property. The rental income is paid into the Sipp, which is then used to pay off the mortgage.

Ebor confirmed its current value and calculated the maximum contributions I would need to make, combining both personal and corporate contributions, to achieve tax efficiency. They opened the new Sipp and arranged for contributions and transfers to be completed and registration for VAT.

A team of professionals

David brought together a team of professionals who all played their part in supporting me through the process. A chartered surveyor confirmed the value and made sure the building works were completed satisfactorily. 

A solicitor did all the legal work, but particularly ensured that the transaction was treated as a Transfer of a Going concern. This avoided paying VAT on completion.

Finally, Ebor’s banking connection offered maximum funding at very competitive terms. Very few bankers understand pension scheme funding, so I’d never have been able to navigate this without Ebor’s support. I’d be pulling names out of thin air!

Pro active, expert and trustworthy

From the very beginning of my relationship with Ebor it was clear that they go above and beyond the usual service I had come to expect from a financial adviser. Ebor are straight forward and give you regular updates, which you don’t normally get from other advisers. 

It gave me huge confidence knowing that the solicitors, surveyors and lenders were all trusted associates and that I didn’t have to work all this out myself! It’s clear Ebor have you best interests at heart and it’s great knowing someone’s always got your back. 

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