Private Residence

Below is a selection of our most recent updates on this subject.

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Sale To Provide Pension

Beware the impact of price drops if your home is a key part of your retirement funding strategy
Wednesday, August 31, 2011

Tax On Gains Made On Sales Of Properties Worth Over £1M ?

LibDems favour CGT on gains made on sales of private residences worth more than £1m if 50% additional rate is abolished
Wednesday, August 17, 2011

Loans To Offspring

Care must be taken when lending money to children who wish to purchase a house.
Wednesday, February 11, 2009

House Price Rises

Interest rate rises expected to slow down house price rises
Friday, January 19, 2007

IHT Surge From £360bn Inheritance Windfall Says Halifax

Halifax estimates that £360bn in today's money of housing assets will pass from one generation to another over the next 15 years. Halifax also calculates that this transfer of housing wealth is the largest of its kind recorded in the UK. The Pre-Budget report of 5 December 2005 predicted inheritance tax rising by 24% over the three years to April 2007 when the yield will reach £3.3bn. Halifax forecast that the number of estates with property assets would increase from 104,950 in 2002/03 (59% of the total) to 115,347 (65%) in 2019/20.
Friday, March 03, 2006

First Time Buyers' Deposit Is £23,967 (76% Of Average Earnings Of £31,485) Says Halifax - Impact On Education Funding

Halifax research published on 28 January 2006, shows that it now takes the typical first time buyer 5 years to save a deposit. Since 2000, the deposit first time buyers (FTBs) put down has also significantly increased. 5 years ago, the typical deposit was £9,894, equivalent to 42% of the average earnings. The typical deposit is now £23,967, equivalent to 76% of the average earnings of £31,485. One important implication of these powerful statistics is that increasingly parents and grandparents are contributing towards the deposits of first time buyers. This, together with the increasing cost of higher education means that advisers must through their communication with parents / grandparents, make clients aware of the simple but powerful benefits of saving for (seemingly) inevitable and significant future expenditure. If you add together the cost of higher education at a current rate of £10,000 pa (£30,000 for a three year course) and an average deposit of even £20,000 making a total of £50,000 (raised in say 4 tranches of £10,000, £10,000, £10,000 and £20,000) and apply a 'cost of inflation factor' of 5% pa to the £50,000 (conservative) fund required in 18 years you end up with a target fund of £120,330. As ever, the message must be 'the earlier you start saving, the better'.
Friday, February 17, 2006

Residential Property Prices Fall But Mortgage Activity Increases

The Nationwide finds that average prices are only 1.8% higher than in September 2004, a 9 year low. Yet mortgage activity has increased and is likely to increase further as a result of complex new regulation aimed at reducing credit risk.
Monday, October 10, 2005

Britons Fret Over Losing Homes And Being A Burden On Their Families In Old Age According To A Recent Survey By Hsbc

In a recent HSBC survey 49% were seriously concerned about losing their homes and 56% were concerned about being a burden to their families in old age.
Monday, September 05, 2005

The Tax Break For A SIPP To Encourage More Investment In Buy-To-Let Properties Could Thwart First-Time Buyers

The tax break for a Sipp that will encourage more investment in buy-to-let properties could prevent first-time buyers from getting on to the housing ladder, the government was warned yesterday.
Friday, August 26, 2005

The Housing Market Will Remain Broadly Flat For The Next Two Years And House Price Inflation Is At A 9 Year Low

The predicted 'flatness' in residential house means that two potential areas where projections and models will be affected are estate planning and equity release.
Thursday, August 04, 2005

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