Friday, Jul 28, 2006
More ways to prop up the property market?
Financial Times: Vehicles set to queue for property schemes
Under the final version of the Finance Bill, which was passed last week, investors can get exposure to residential property through their self-invested personal pensions (Sipps) as long as it is through a so-called “genuinely diverse” investment vehicle. These schemes have to fit certain criteria: they must have at least 10 investors and own at least three different properties worth a minimum of £1m in total.
Posted by uncle chris @ 04:46 PM (27 views) Add Comment
4 Comments
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1. tyrellcorporation said...
I like the way this is touted as being a good thing!!!
For the rest of us it could mean the final nail in the coffin... And I can clearly remember pundits stating after the last housing crash that houses are to live in and not for investments.
2. paul said...
Why is the government further exposing the housing market to investment speculation at a time when affordability is such an issue?
Their incompetence is staggering to the point of making it indistinguishable from bloody-mindedness.
3. Time To Raise Petrol Prices said...
Forget about it - this is far too specialised even for most SIPP investors to bother with. When we thought BTL would be available for SIPPs, the calculated effects were pretty small - this will be tiny in comparison even to that.
4. sirgoogle said...
Paul. The Govt is desperate that is why. There is nothing left in the economy except for cheap imports being funded by a rising housing market and cheap loanms. And Oh dear, those imports are going up in price and international IRs are rising !!
The Govt needs to keep this going for a few more months before Tony throws in the towel.