Sipp provider Xafinity has launched a fixed fee offer for new Sipps investing in commercial property and land.
The offer, which runs until November 2013, will see new Sipps benefit from a one-off fixed fee of £1,500 plus VAT for each property transaction.
This covers Xafinity's property purchase or transfer fee and solicitor's fee for the property purchase or in specie transfer.
Customers could save up to £2,000 with the reduced costs as the firm said it had previously found transfer costs were a concern for investors.
The firm currently administers over 1,100 commercial property and land investments for existing clients.
In particular, it has seen growth from independent businesses such as dentists, pubs and hairdressers using personal pension funds to buy business premises.
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Andy Bowsher, director of self-invested pensions at Xafinity, said: "This offer is not only for new Sipp clients, but also clients who transfer from existing arrangements.
"Indeed we did a survey of advisers recently and, of those with Sipp commercial property clients, an astonishing 96 per cent said they'd recommend transferring one or more clients to a new Sipp provider, if the costs were reasonable.
"This told us that a huge number of advisers and clients are not happy with their current Sipp provider, but felt stuck due to the significant costs of transfer. Two-thirds of these advisers stated the cost barrier to transfer was sub-£1500, whilst a third would pay more than this. So we've worked with a respected panel of solicitors to cap our collective core fees to make transfers affordable."

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