In recent years, equity release has become an increasingly popular way for older homeowners to unlock cash tied up in their properties. Equity release products enable homeowners over the age of 55 to access equity locked up in their homes while still being able to live in their property. New research suggests that many homeowners …
Continue reading “Cost of living drives equity release increase”
OBR forecasts long but shallow recession Updated projections from the Office for Budget Responsibility (OBR) suggest the UK is facing a long but relatively shallow recession which will see households hit by a record drop in living standards. Chancellor Jeremy Hunt unveiled the independent fiscal watchdog’s latest forecasts during his Autumn Statement delivered to the …
More Stamp Duty changes in Autumn Statement Chancellor Jeremy Hunt’s Autumn Statement on 17 November left housing out of the limelight, though it did include a commitment to keep the Stamp Duty Land Tax (SDLT) changes announced in the ‘mini-budget’ – for now. In September, then-Chancellor Kwasi Kwarteng increased the nil-rate threshold of SDLT to …
Continue reading “Residential Property Review – November 2022”
Weakening outlook for commercial property The Q3 2022 RICS UK Commercial Property Survey reveals a picture of weakening market activity, with 81% of respondents now considering the market to be in downturn. Headline expectations for rents and capital values were in negative territory in Q3. Prime office rents are expected to remain broadly flat in …
Continue reading “Commercial Property Market Review – November 2022”
Weakening outlook for commercial property The Q3 2022 RICS UK Commercial Property Survey reveals a picture of weakening market activity, with 81% of respondents now considering the market to be in downturn. Headline expectations for rents and capital values were in negative territory in Q3. Prime office rents are expected to remain broadly flat in …
Continue reading “Commercial Property Market Review – November 2022”
Do you always lock your windows before going on holiday? If not, you’re not alone. A new survey1 has revealed some of the bad holiday habits of UK homeowners. Locked out Two in five respondents don’t check their windows are locked, with a similar number failing to check the doors. Just under half make sure …
Recently released research1 suggests UK consumers are becoming more knowledgeable about pensions and prepared to take a greater role in preparing for retirement. Other research2, however, shows significant sums are still sat in ‘lost’ pensions, while experts have warned about potential pension-related problems as the cost-of-living crisis bites. Pensions knowledge improving A survey conducted by …
“We will face into the storm” On 17 November, Chancellor of the Exchequer Jeremy Hunt delivered his fiscal plan to “tackle the cost-of-living crisis and rebuild our economy” stating that the government’s three priorities are “stability, growth and public services.” The Chancellor struck a defiant tone during the key fiscal event, saying he was “taking …
It’s been a busy couple of months in the mortgage market, with rising interest rates and new product ideas dominating the discussion. Rate rises Following the Bank of England’s decision to raise interest rates, two million mortgage holders with standard variable rates or tracker mortgages are already facing higher repayments. Bank Rate increases will also …
In challenging market conditions, it’s likely that some bereft individuals will inherit investments that have fallen in value. Through IHT share loss relief, people inheriting can be entitled to claim a tax rebate when they sell certain qualifying investments at a loss. Strict rules, criteria and exemptions apply however. For example, to be eligible for …
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