20-March-2017 A Legal Watchdog has warned that hundreds of thousands of people suffering with dementia or learning difficulties are being held in care homes and hospitals unlawfully. The Law Commission has revealed that the system which allows detention of people who cannot make decisions for themselves is failing because of the huge number of applications […]
First Time Buyer Effect on House Prices
20-February-2017 Claims that the growth in house prices has slowed because of post-Brexit uncertainty have been revisited after official figures showed an upward trend at the end of 2016. According to the Office of National Statistics, the average house price rose by 7.2% to £220,000 in December 2016 – £15,000 more than in December 2015 […]
First Time Buyers Still Need a Helping Hand
14 Mar 2016 Author: Stephen Breen A government report carried out by the Department for Communities and Local Government has revealed a trend in older homeowners. Of the 22.5 million homes in England, 7.4 million are owned outright, and 4.5 million of these are owned by people are aged 65 or older. In total, 14.3 […]
Want To Buy a House? Here is How to Get a Mortgage
17 Mar 2016 Author: Stephen Breen Although there are some great deals on offer in the mortgage market right now, the process of getting a mortgage is rarely plain sailing. Here, we offer a few tips to help you find a good mortgage deal and maximise your chances of being accepted. Affordability Affordability tests were […]
Could Your Will Be Challenged in Court
21 Mar 2016 Author: Stephen Breen Most of us think that by making a will, we get to choose how our property is distributed at death. However, an increasing number of wills are being successfully challenged by disgruntled relatives, and the recent case of Melita Jackson is a notable example. Mrs Jackson decided to leave […]
Should Buy-to-Let Borrowers Face Stricter Affordability Tests
11 Apr 2016 Author: Stephen Breen Since the mortgage market review, regular home buyers have been subject to strict affordability tests that include the requirement to prove every penny of income and answer probing questions on spending habits. Buy-to-let landlords have, so far, avoided these tests, with affordability based on rental income instead. However, the […]
Inheritance Tax Planning
15 Apr 2016 Author: Stephen Breen The recent news coverage of the Prime Minister’s tax affairs revealed amongst other things that his mother gifted £200,000 to him back in 2011 – a sum that might otherwise have been subject to a hefty inheritance tax bill of 40% on her demise. Predictably, a number of papers […]
Taxed For Helping The Children Onto The Property Ladder
22 Apr 2016 Author: Stephen Breen With house prices soaring, more parents than ever before are stepping in to give their child a helping hand onto the housing ladder. But well-meaning parents could find themselves subject to stamp duty, capital gains tax and inheritance tax as a result of their generosity. Stamp duty changes The […]
Taxed: Literary Heroines and Heroes Of Old
4 May 2016 Author: Stephen Breen Many of the great literary heroines and heroes inherited vast fortunes which would have attracted a substantial inheritance tax bill today. Ruth Emery for The Sunday Times (1st May) has calculated exactly how much the taxman would have taken from the inheritance of five of our literary favourites, had […]
Minimise Inheritance Tax With a Trust
4 May 2016 Author: Stephen Breen Recently the papers have been talking about various methods that politicians have been using to ensure they pay as little inheritance tax as possible. Former Prime Minister Tony Blair used an ‘interest in possession’ trust to handle part of his estate – while Chancellor George Osborne admitted that he […]
The Bank of Mum and Dad Open For Business
12 May 2016 Author: Stephen Breen A report by the Centre for Economics & Business Research and Legal & General reveals that parents contribute more than £5 billion a year to their children’s house purchases. If you’re considering helping your child take their first step on the housing ladder, there are a few things you’ll […]
Helping Your Child Buy Their First Home
12 May 2016 Author: Stephen Breen Soaring house prices mean that 62% of first time buyers need assistance – usually from the Bank of Mum and Dad – to get a foot on the housing ladder. Figures published by the Council of Mortgage Lenders show that nearly two thirds of first-time buyers would not be […]
The True Cost of Purchasing a Buy-to-Let Flat
2 Jun 2016 Author: Stephen Breen A number of changes to regulation coupled with soaring house prices have made buying an investment property for your student children a less attractive prospect. Historically, helping your children out with student accommodation has meant good returns. The property can be rented to a number of students, subsidising the […]
New House Price Index Helps You Get A Better Deal
23 Jun 2016 Author: Stephen Breen A new UK price index that has been created by the Land Registry will help you find out the average house prices for the area you’re buying or selling in. Until now, finding average house prices for a particular area has been difficult, with no less than six national […]
How To Sell Your Home
Whether you’re selling a home for the first time or you’ve already climbed a few rungs on the housing ladder, here’s how to get the best price with the least possible fuss. Price realistically Surveying asking prices in the local area will give you an unrealistic picture of the market condition. To see what’s selling […]
First Time Buyers Get On The Housing Ladder
With the prospect of owning your first property on the horizon, it might be tempting to wait until the election to see if a new government brings with it new incentives aimed at first time buyers. Hesitance right now could be ill-advised, however: whilst some areas have experienced slow growth and others have seen prices […]
Time For Grandparents To Lend A Hand
If you’re thinking of leaving a gift to your grandchildren in your Will, it might be time to reevaluate your goals. With more young people than ever before struggling to get a foot on the housing ladder, an early gift from a grandparent could help your grandchild become a homeowner – and save on inheritance […]
Mortgages Arrears at a Record Low
18-August-2016 Figures released by the Council of Mortgage Lenders (CML) show that mortgage repossessions are at an all-time low. In the three months leading up to the end of June this year, there were 92,500 mortgages in arrears of at least 2.5% of the balance – 13.4% lower compared to the same period last year, […]
Get A One Year Mortgage
Those struggling to sell their home may find the new range of one-year mortgage deals a helpful way to fund their plans. A number of building societies are offering one year deals, allowing those who have already found a new property to move, before selling their existing one. In the past, the only finance option […]
Inherited ISA Allowance: A Valuable Tax Break
27 Mar 2017 Author: Stephen Breen When a loved one dies, perhaps the last thing on your mind is what happens to their ISA – but there is a useful tax break that is worth knowing about. Since April 2015, spouses and civil partners of ISA holders have been able to inherit an extra ISA […]
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