We believe that both the possible rewards and risks should be portrayed in a balanced way to ensure that people understand what the implications of investing residential property in a SIPP are.
SIPPs specialist, Keith Boniface said: “There is no substitute for good professional advice and we would urge any customers considering investing residential property in a SIPP to seek such advice. There are many SIPPs-friendly developments in Spain that can be ordered now for completion in the next tax year and onwards, giving extra equity growth for the pension.”
Alberto Linares, of SIPPs in Spain, a grouping of 50 Spanish banks, leading developers, SIPPs providers and currency firm, Travelex said: “We share some of the concerns of Norwich Union and we advise the hundreds of people wanting a SIPP property in Spain to discuss their pension futures with independent pensions specialists and then their property requirements with us.
“It is essential a SIPP in Spain, or other country, is part of a balanced portfolio of investments and the property selected offers a safe and steady equity growth and good rental potential”, he added.
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