Ms Walsh has a growing multi-site business in the beauty sector, has been saving into a pension scheme and has identified the perfect premises to trade from within sight of a major city train station.
The purchase price of the building is £410,000 and she has £160,000 in her pension scheme so approached her broker about the prospect of arranging finance for the additional amount required to purchase the property.
The initial feedback from the broker was that this wouldn’t be possible because her pension scheme is limited to borrowing 50% of its net asset value, £80,000 in this case, which would leave a £170,000 shortfall.
With PLF and the broker working together to structure a practical solution, Ms Walsh was able to use her existing pension scheme as the deposit for the purchase with the balance being obtained from lending arranged by the broker enabling her to purchase trading premises for her business.
