News

After what has seemed like a lengthy wait, the Home Office has announced the pilot region for the landlord immigration check requirements under the Immigration Act 2014. The initial areas will be Birmingham, Walsall, Sandwell, Dudley and Wolverhampton. The requirement will come in to force in those areas only on 1 December 2014, with other towns and regions to follow at unspecified dates in 2015.
When the UK economy finally returned to its pre-financial crisis growth level this summer, Chancellor George Osborne was in receipt of other news that perhaps only he welcomed: Inheritance Tax (IHT) bills of £3.4 billion had almost touched levels last seen in 2008. Households paid more in IHT last year than at any point since the start of the recession. HM Revenue & Customs’ (HMRC) receipts from IHT increased by 8.6% over the last year as 15,976 estates were caught by the tax.
A ten minute browse through any of the Landlord or Buy-to-Let property magazines will usually reveal at least one story where a rogue landlord has been fined for failing to protect the safety of his or her tenants. It seems these articles increasingly relate to Houses of Multiple Occupation or HMOs.
This article was kindly contributed to Pace Plc by Paul Flavin, of Zing Money. An estimated 285,000 (1) mortgage customers will experience an increase in their monthly mortgage repayments between August 2014 - December 2014 when their current mortgage deal expires. A large volume of these mortgage customers will revert from their existing pay rates between 3% & 4%, moving onto an average Standard Variable Rate (SVR) of 4.4% (2). Based on a mortgage of £150000 over a term of 25 years, this could mean an increase in mortgage payments of £114 per month.
This article was kindly contributed to Pace Plc by Paul Flavin, of Zing Money. With the Bank of England base rate being held at 0.5% since March 2009, we have all become accustomed to low interest rates. Although this has been disastrous for savers, for those with mortgages tracking the Bank of England base rate, it’s been a real boon to low mortgage payments, but we have quickly adjusted to that extra money in our back pocket.

Pages

Search again