First National Commercial Banking (FNCB) has launched a new commercial mortgage that will enable individuals to take advantage of the tax benefits of a Self-Invested Personal Pension (SIPP) by investigating their pension scheme funds in commercial property.

A SIPP scheme increases fund-holders control over where funds are invested, allowing them to diversify their portfolio of investments to reduce risk and to accommodate a range of personal circumstances.

First National's SIPP Commercial Mortgage will help fund-holders to invest their pension assets in commercial property and land, with no income tax being payable on the rent received by the SIPP, and no capital gains tax to pay on profit on a later sale of the property.

Jeff Watson, Director of First National Commercial Banking, said: "Introducers can sow source a SIPP Commercial Mortgage from a lender who fully understands the commercial lending sector, and their clients business. Having access to this new product from a commercial loans specialist will provide intermediaries with a unique option when advising their clients.

First National's SIPP Commercial Mortgage scheme is primarily aimed at purchasers of standard office, retail and modern light industrial units, with likely borrowers including the owners of business operating from the premises, where the business tenant will pay rent on the scheme under the terms of a commercial lease.

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