The tide is high: The flood risk to your client
Mortgage Solutions | 03 Jan 2012 | 16:07
James Sherwood-Rogers
Moving to France several years ago, we were initially alarmed at the apparent hike in insurance premiums for vehicles and property. Now we understand the situation, these increased premiums actually work out for the best as inclusive cover is provided. There is no loading (let alone rejection) for insuring property near water for example, with all policyholders sharing common interest. If France can do this, why not Britain?
John
03 Jan 2012 | 17:25
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Lack of mortgage finance starves Irish property into freefall
Mortgage Solutions | 04 Jan 2012 | 08:39
Vicky Hartley
I hope the FSA and Government take this report on board before making it any more difficult to obtain a mortgage. It will decimate the building industry, associated industries and tax revenues.
Terry
04 Jan 2012 | 11:31
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Newcastle BS partners up with e.surv
Mortgage Solutions | 05 Jan 2012 | 15:05
Simret Samra
Do lenders not realise that using useless surveyors as panel managers for cost cutting is a false economy as all a panel manager ever does is try to do the survey by the cheapest option possible by more useless surveyors?
We end up wasting more of the lenders time by moaning about the panel managers again. Why do these lenders not ask us our thoughts on this instead of trying to save money in an area where they shouldn’t be?
John
06 Jan 2012 | 09:44
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This week’s star comment comes from Arron Bardoe. He gives us his thoughts on the government’s intentions to clampdown on tax avoidance as a priority in the Spring Budget.
Spring Budget to squeeze Stamp Duty dodgers
The government could quash SDLT avoidance schemes immediately by reverting the rate back to 1% for all values above a threshold – say £125,000. As this would remove the profit from such mitigation schemes, it would see all purchases pay 1%, as there would be no money in avoidance.
It should be remembered that SDLT on properties from the 3% plus bands does contribute much money to the nation’s coffers. In terms of “fairness”, the small number of higher rate taxpayers in the UK pay more in tax than all basic rate taxpayers and below put together, so it is no surprise they might endeavour to reduce their share of the burden once in a while.
The higher bands were introduced by the Labour government to show their socialist credentials, but all it has really done is harm the housing market. If one’s property might have been valued at £255-£285,000, it is now worth £250,000 as buyers want to avoid the 3% tier. This goes on up the bands and only serves to discourage house movers.
The ascendance up the housing chain allows first-time buyers to buy property as well, so reverting to 1% would have a far more reaching effect than extending the first-time buyer holiday, which encourages the developers to build smaller homes and flats. I suspect the net result of reverting to 1% would see little or no impact on the revenue raised as it would be paid by all and might just stimulate more transactions.
Arron Bardoe
06 Jan 2012 | 12:45
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Thank you for all your comments
