Rental demand puts upward pressure on prices Buy-to-let rents, according to the LSL monthly index of average UK rents have reached a two-year high. The current economic uncertainty has meant prospective buyers are discouraged from buying and are therefore looking to rent. Furthermore, first-time buyers are finding it difficult to get a foot on the… Continue reading Rents reach a two-year high
Category: Financial News
Repossession rates down
Historically low interest rates have helped homeowners The Financial Services Authority (FSA) has reported a fall in repossessions. According to the FSA, repossessions fell in the April to June period to a level not seen since the beginning of 2008. Lenders seized 9,978 properties in the quarterly period – a fall of 5 per cent… Continue reading Repossession rates down
Remortgaging
Moving your mortgage can be both painless and inexpensive Moving a mortgage without moving from a property can be both painless and inexpensive. If you have had your existing loan for some time, and are paying your lender’s standard variable rate, or have come to the end of a discount or fixed scheme, then you… Continue reading Remortgaging
Taxing times for landlords
Maximising your allowances to reduce taxable profit If you let out property you can deduct certain expenses and tax allowances from your rental income to work out your taxable profit (or loss). If you have several UK residential lettings you pool the income and expenses together. But you work out holiday letting and overseas letting… Continue reading Taxing times for landlords
Tackling the supply crisis
Shortfall of homes a pproaching a million Increasing housing supply is critical to the UK both socially and economically. The Home Builders Federation (HBF) is calling for recognition of the important role home builder’s play in meeting people’s need for housing and jobs. HBF estimates the shortfall of homes to be approaching a million, yet… Continue reading Tackling the supply crisis
Understanding the jargon
The A to Z of property and mortgage terms APR Stands for Annual Percentage Rate which helps you compare the cost of different mortgage deals. It takes into account the amount of interest you will pay, the length of the term of the mortgage, and other charges such as any arrangement fee. Arrangement fee Lenders… Continue reading Understanding the jargon
Choosing your new home
Making an informed decision is the key Whether you are a first-time buyer or are considering moving to another property, it’s very important that you are in a position to make an informed decision about your specific property requirements. You need to achieve the right balance between affordability, availability and suitability. Start by making a… Continue reading Choosing your new home
UK property sentiment
Survey indicates property sales will improve The Royal Institution of Chartered Surveyors (Rics) has indicated that members feel more confident about sales of UK property over the next three months than they did in July. This is despite 32 per cent more chartered surveyors reporting prices falling rather than rising throughout August. A fifth (18… Continue reading UK property sentiment
Financial reasons to make a will
Putting it off could mean that your spouse receives less It’s easy to put off making a will. But if you die without one your assets may be distributed according to the law rather than your wishes. This could mean that your spouse receives less, or that the money goes to family members who may… Continue reading Financial reasons to make a will
Mitigating Inheritance Tax
Transferring assets can seriously improve your wealth Current rules mean that the survivor of a marriage or civil partnership can benefit from up to double the Inheritance Tax allowance (£650,000 for 2010/11), in addition to the entitlement to the full spouse relief. Inheritance Tax is only paid if the taxable value of your estate when… Continue reading Mitigating Inheritance Tax
