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Property Purchase Fees Removed – Offer Extended

Due to the demand from advisers and their clients, Taylor Patterson has agreed with our solicitors to extend our 2014 property purchase fees offer.

The offer which was in response to cries from advisers that their existing SIPP/SSAS providers were not providing them with a service. As a result we removed our property purchase fee of £650 for transfers and agreed a fixed fee package with our solicitors to try and minimise the costs of transferring to a new provider thus making it a cost effective option for members. This offer is only available if our preferred legal partners are used when transferring a scheme.

The offer will now be extended until 30th June 2015.

There will be no initial fees raised by Taylor Patterson for transferring a property to a Taylor Patterson arrangement; legal fees including all searches will be on a sliding scale dependent on a realistic value of the property.

Legal Fee Package
Property valued up to £250,000 £1,250
Property valued between £250,000 and £500,000 £1,500
Property over £500,000 £1,750

These fees apply to single property transactions where there is one lease in place, no borrowings and all property manager issues are up to date. If cases do not meet these criteria Taylor Patterson will give individual quotes using these reductions as guidance.

In certain scenarios the fees may be offered at a lower level where it is possible to take insurance out against the decision not to conduct searches. This could reduce the above fees by up to £600 in certain circumstances.

Please note other usual establishment and annual fees will apply on the transfer of a scheme to Taylor Patterson.

The legal fee package is exclusive of VAT payable on legal costs, Land Registry Fees, and any existing providers exit fees and associated costs.

The panel of solicitors that Taylor Patterson has approached to work with us on this offer are totally independent of Taylor Patterson. Taylor Patterson does not receive any incentives or concessions as a result of the relationship it has with the panel firms. The firms are used because Taylor Patterson have worked with them over a number of years and know them to be experienced in dealing with commercial property transactions with SIPP and SSAS.

To find out more about the offer or to discuss particular cases please contact Kerry Houghton on 01772 550614 or email kerry.houghton@taypat.co.uk or Jeremy Hunt on 01772 550781 or email jeremy.hunt@taypat.co.uk.

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