Interest rate cuts tempting property investors back in to the market Landlords have been buying more properties in the last quarter according to a survey. The Association of Residential Letting Agents (ARLA) quarterly survey revealed a “bounce back” in the buy-to-let market. In the ARLA members’ survey of the Private Rented Sector (PRS) for the… Continue reading Buy-to-let landlords acquiring more properties
Category: All News
Experiencing mortgage repayment problems?
It’s essential to talk If you are having difficulty meeting your mortgage repayments or are worried it may become a problem in the future, you may wish to consider the following information. What you should do if you are having trouble paying your mortgage If you are in this situation there are two steps you… Continue reading Experiencing mortgage repayment problems?
Valuing an estate
Accurately reflecting what those assets would receive in the open market When valuing a deceased person’s estate you need to include assets (property, possessions and money) they owned at their death and certain assets they gave away during the 7 years before they died. The valuation must accurately reflect what those assets would reasonably receive… Continue reading Valuing an estate
Legal documents
Applying for probate If you are an executor of someone’s will you may need a legal document called a ‘grant of probate’ to enable you to sort out the deceased person’s affairs. If there is no will, a close relative can apply for a ‘grant of letters of administration.’ In Scotland different procedures apply for… Continue reading Legal documents
Important exemptions
Legally passing your estate without it being subject to Inheritance Tax There are some important exemptions that allow you to legally pass your estate on to others, both before and after your death, without its being subject to Inheritance Tax. Exempt beneficiaries You can give things away to certain people and organisations without having to… Continue reading Important exemptions
Arranging to pay Inheritance Tax
Who will handle your affairs? The ‘personal representative’ (the person nominated to handle the affairs of the deceased person) arranges to pay any Inheritance Tax that is due. You usually nominate the personal representative in your will (you can nominate more than one), in which case they are known as the ‘executor.’ If you die… Continue reading Arranging to pay Inheritance Tax
Inheritance Tax facts
The average estate leaves £90,000 net of tax and the average amount received by each individual is £17,500. This suggests that, on average, people share out their bequests between five people. Some 10 per cent of beneficiaries receive £50,000 or more. A further 30 per cent receive £10,000 or more, enough to make a… Continue reading Inheritance Tax facts
Inheritance Tax glossary
Common estate planning terms Administration Dealing with the affairs and estate of a person who has died including collecting their assets, paying their debts and paying the residue to the people who are to benefit. Affidavit A document giving evidence which is sworn in front of a solicitor or other person who can administer oaths.… Continue reading Inheritance Tax glossary
Greater protection for tenants
The Housing Minister John Healey has announced a proposed change to the law to guarantee at least two months’ notice for tenants if they are required to leave their home because a lender has taken possession of the property. We believe, however, that it is important to distinguish between cases where the tenancy is recognised… Continue reading Greater protection for tenants
New regulation of sale-and-leaseback firms
Lenders welcome the decision to introduce an interim regime Firms offering sale-and-leaseback have only until the end of July to submit applications for interim authorisation from the FSA. If they fail to do so, they will be unable to offer sale-and-leaseback during the period of interim regulation of the market, lasting until the end of… Continue reading New regulation of sale-and-leaseback firms
