One-Stop Property Pension Service Completion of First Transaction

We recently completed an initial test transaction, for an existing client, whereby McGleenan & Co acted as arrangers in tandem with agreed roles & terms for the Financial Broker, Trustees, Property Buyers Agent, Solicitors & Insurance Brokers covering the entire transaction.

In this case a busy Midlands SME client chose to leave the property viewing & selection process entirely to our highly experienced Buyers Agents, with the full process taking in the following technically demanding, but prudentially essential steps:

1. Check pension capacity.
2. Set up pension trusts.
3. Obtain Revenue approval.
4. Open pension trust bank account.
5. Transfer initial funds from Co.
6. Transfer funds from other pensions.
7. Locate property.
8. Obtain professional valuation for Lender.
9. Obtain property investment approval from client.
10. Credit approval from Lender.
11. Sale agreed on property.
12. Obtain solicitors confirmation that non-recourse funding T’s & C’s from Lender are as expected.
13. Confirm Municipal Authority’s (“MA”) long-term leasing interest.
14. Contract issued conditional on MA Lease.
15. Obtain Management Co’s consent to MA Lease.
16. Arrange Loan drawdown.
17. Close Contract of Sale.
18. Arrange liquidity top-up.
19. MA Lease T’s & C’s agreed.
20. MA required work list prepared & costed.
21. Insurance cover checked.
22. Works completed.
23. Fire Cert obtained.
24. Works inspected for MA.
25. MA Lease issued.
26. Tax Clearance obtained.
27. Lenders consent to MA Lease obtained.
28. MA Lease executed.
29. Management Co arrangements for Key-Holders.
30. Receive first of 240 monthly rental payments from MA by direct debit.

If you are interested in addressing your future financial plans, then contact us for a free initial consultation.