23 Aug 2017 Author: Stephen Breen Last week a former Court of Protection judge poured scathing criticism on Lasting Powers of Attorney, concluding that he would never sign one himself. Instead, the Judge advised that people do nothing, so that if they should lose mental capacity, a friend or relative would have to obtain a […]
Breens Blog
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The Interest Only Mortgage Dilemma
15 Aug 2017 Author: Stephen Breen Figures from the Council of Mortgage Lenders (CML) have revealed that around 1.9 million borrowers in the UK have an interest-only mortgage, meaning that their payments cover the interest charged but never reduce the capital sum loaned. At the end of an interest-only term, a lender will look to […]
Would You WhatsApp Your Will?
11 Aug 2017 Author: Stephen Breen Around two thirds of adults in the UK haven’t yet made a Will, leaving their finances to the mercy of intestacy rules. With so few taking the opportunity to put their affairs in order, it is no wonder that the Law Commission is looking for new ways to simplify […]
First Time Buyers: The Help to Buy Lifetime
25 Jul 2017 Author: Stephen Breen First introduced by George Osborne in 2013, the Help to Buy equity loan scheme is still going strong and has helped more than 285,000 first time buyers get a foot on the housing ladder. If you’ve not yet considered Help to Buy, here’s what you need to know about […]
Choosing The Perfect Care Home
24 Jul 2017 Author: Stephen Breen With one in four care homes and one in three nursing homes failing on safety standards, finding the perfect care home for a loved one is nothing short of a challenge. Whether you’re looking for a care home for yourself or a family member, we take you through everything […]
High-Cost Leases Make Properties Unsellable
19 Jul 2017 Author: Stephen Breen Around 100,000 homeowners are stuck with high-cost leases that allow huge hikes in ground rent, making their properties unsellable. The problem affects owners of new build properties offered by house building companies. Buyers were offered a lengthy lease or the option of purchasing the freehold for an extra sum. […]
Death Of A Shareholder
26 Jun 2017 Author: Stephen Breen Directors risk their business by having no Shareholder Agreement, Will, or Lasting Power of Attorney in place. You’ve done the hard work, put in the hours and now you have a flourishing business. Everything is in place, isn’t it? A recent survey found that more than half of the […]
Help For First Time Buyers
Soaring property prices and stringent lending criteria have given first time buyers a rough ride in recent times. But with the pace of house price rises slowing and an increased number of 95% loan-to-value mortgages available, the dream of getting a foot on the housing ladder is once again becoming a reality. There are currently […]
Nine Tips For Purchasing Property
For most people, buying a house is the most expensive purchase we will ever make. It’s perhaps no surprise that adults have rated purchasing a home as more stressful than divorce, bankruptcy or even bereavement. Whether you’re taking your first step onto the housing ladder or you’re purchasing your second or third home, knowing these […]
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 […]
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