Craig M

Registered with Property118.com
Wednesday 12th April 2017

Trading Status
Sole Owner

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 16

Craig M

9:12 AM, 1st September 2019
About 5 months ago

One of the best kept secrets? - The SSAS “Loanback”

Reply to the comment left by michaelwgroves at 01/09/2019 - 08:37
Hi Michael
5 Years is actually the maximum period - you can arrange the loan for any period up to 5 Years.
Our personal preference is for 1 year at a time - we use the loan to buy a property with cash - refurbish to increase its value and desirability for rent - then we refinance on month 6 - typically receiving the refinance funds in month 9/10 - pay back the loan plus interest before the 12 months is up.
Then we start the process over again !... Read More

Craig M

9:07 AM, 29th August 2019
About 5 months ago

One of the best kept secrets? - The SSAS “Loanback”

Reply to the comment left by Mark Alexander at 29/08/2019 - 08:50
Hi Mark
I'm afraid that I have zero experience with EPUTS so not in a position to offer any useful guidance, however, if you go to sippclub.com and search for "how-to-hold-residential-and-commercial-property-in-a-pension" you will find some great EPUT information that should help you.
Regards
Craig... Read More

Craig M

9:20 AM, 28th August 2019
About 5 months ago

One of the best kept secrets? - The SSAS “Loanback”

Reply to the comment left by Richard Peeters at 28/08/2019 - 08:47
My understanding is that it is a HMRC Guideline, so it would be applicable to ALL SSAS Schemes - falling outside of the HMRC Guidelines could have a massive tax implication... Read More

Craig M

8:26 AM, 28th August 2019
About 5 months ago

One of the best kept secrets? - The SSAS “Loanback”

Reply to the comment left by Vero at 27/08/2019 - 23:51
Glad to hear that your experience with SSAS Practitioner has also been a good one Vero.
You have also explained the "loan security" aspect very well, ie, the security is over the "sale proceeds" of the residential property, not the property itself - Thank you.... Read More

Craig M

8:21 AM, 28th August 2019
About 5 months ago

One of the best kept secrets? - The SSAS “Loanback”

Reply to the comment left by Peter G at 27/08/2019 - 23:02
Hi Peter
Your SSAS Pension can own assets that give a commercially viable return - such assets are commercial property, land etc.
IT CANNOT DIRECTLY OWN RESIDENTIAL PROPERTY.
Please note there is a distinction here as we are talking about the SSAS Pension actually owning an asset.
In my original post we were NOT talking about the SSAS Pension owning any residential property - it was only loaning money to its sponsoring company (SPV).
Does that help ?... Read More