May 05, 2016 | Posted by : J Morris
HMRC has reported a rush of second home purchases during March as landlords attempt to beat the increase to stamp duty. On the 1st of April, changes to stamp duty came into effect, adding a 3% tax to the purchase of second properties worth over £40,000. As a result, mortgage lenders, estate agents and HMRC have noted a surge of transactions in the run up to the deadline.
The HMRC data reported 141,000 transactions during March 2016 – double the number registered the year before, and the highest since before the decline in the housing market in 2007. Data collected by the Council of Mortgage ...
April 29, 2015 | Posted by : J Morris
Thinking of investing in a buy-to-let property in 2015? Investment properties can offer a steady source of income or savings, and can be an excellent way to plan for a pension, but it’s worth doing your homework to ensure the buy-to-let route will be beneficial for your financial situation.
Before you embark on a new property investment, speak to your family law solicitor and evaluate the risks according to your income, outgoings, lifestyle and long-term financial objectives. Can you afford to cover an additional mortgage? What kind of return will you need to make the investment worth your while?
Do your ...