The starting point is of course to establish your SIPP – a property form and a SIPP application form can be submitted together but naturally the funds must be in the SIPP at the time of purchase.  Before deciding to set up or use a SIPP for property purchase you should take advice from an authorised financial adviser.

Once you have found a suitable property you will need to complete and send to us the property form. This must include details of your chosen solicitor and that of the vendor, as well as details of the lender and valuer. We will be happy to instruct solicitors and valuers as required.

Insuring the property
Following acquisition, Suffolk Life Annuities Limited as the owner of the property will arrange insurance – we currently have a block policy arrangement with Royal & Sun Alliance. This insurance is for the property asset, not any contents, trade equipment or business interruption, although it does include three years loss of rent cover. You will need to complete and return to us an insurance cover application section of the property form and the reinstatement costs will need to be confirmed by a valuer.

Managing the asset
Once we have acquired a property then going forward we will typically deal with the management. This includes insuring the property, involving any tenant for rent and insurance, repaying any loan as arranged, VAT returns, dealing with management companies, adjoining owner service companies and public authorities when requested. It also includes dealing with any tenant requests including assignment, under lettings, alterations etc.