Legal & General UK Property Unit Trust introduced

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Legal & General UK Property Unit Trust introduced

The Legal & General UK Property Unit Trust has been launched and will be available as an Individual Savings Account (ISA) for transfers from existing ISAs or Personal Equity Plans (PEPs).

As well as via transfers, investments can be made in a Maxi ISA, a Mini stocks and shares ISA or direct Unit Trust investments.

A minimum regular investment of £50 is required and for lump sum inputs a minimum of £500 is necessary.

Maximum levels of £7,000 and £4,000 are placed on the Maxi ISA and mini stocks and shares ISA respectively, while ISA or PEP transfers and direct investments do not have a maximum limit.

Claire Stracey of Legal & General said: "Commercial property may be attractive to investors who prefer more stable returns compared to equity investment. It may also be attractive to investors who are looking to diversify their existing investments across a range of assets."

The Legal & General UK Property Unit Trust is available from today and the initial charge – normally five per cent – will be waived for direct customers.

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