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Author: amoore70
What is meant by unencumbered property?
In the context of the UK mortgage market, the term “unencumbered property” holds significant importance for both homeowners and lenders. It denotes a property that is owned outright, with no existing mortgages, liens, or other financial claims against it. Here, we delve into what unencumbered property means, its benefits, and its implications in the UK… Read more
What Are the Most Overlooked Financial Aspects of Divorce?
Divorce is a challenging and emotional process, often accompanied by significant financial implications. While many people focus on the immediate concerns of asset division and maintenance payments, several critical financial aspects can easily be overlooked. Understanding and addressing these overlooked areas can help ensure a more stable financial future post-divorce. 1. Tax Implications One of… Read more
Expenditure considerations when applying for a UK mortgage
When applying for a mortgage in the UK, lenders conduct a thorough assessment of your financial situation to determine your affordability and ensure you can manage the repayments. This assessment includes a detailed look at your income, credit history, and expenditure. Understanding the types of expenditures that lenders take into account can help you better… Read more
Understanding the risks of buying property on a flood plain
The Dangers of Buying a Property on a Flood Plain in the UK Purchasing a property is one of the most significant investments most people will make in their lifetime. While location, price, and property condition are key factors in making a decision, it is equally crucial to consider environmental risks, such as the potential… Read more
Commonhold – a guide to property ownership
What is Commonhold? Commonhold is a form of property ownership in the UK that allows individuals to own a freehold property within a larger building or development, while jointly owning and managing the common parts and facilities. This system was introduced by the Commonhold and Leasehold Reform Act 2002 as an alternative to the traditional… Read more
The best websites to find your next home
Top Websites to Find Property in the UK Searching for a property, whether to buy or rent, can be a daunting task. The digital age has made it easier by offering numerous online platforms where you can browse thousands of property listings. Here’s a guide to some of the best websites in the UK for… Read more
Let to buy explained
“Let to buy” (LTB) is a property strategy where a homeowner rents out their existing home in order to purchase a new one. It is popular in the UK among people who want to move to a new property but don’t want to sell their current one. Here’s how it works: Key Benefits: Key Considerations:… Read more
Understanding stamp duty land tax (SDLT) in the UK: Current rates and key information
What is Stamp Duty Land Tax (SDLT)? Stamp Duty Land Tax (SDLT) is a tax levied on the purchase of property or land in England and Northern Ireland. It is applicable to both residential and non-residential property transactions and must be paid by the buyer. The tax is calculated based on the purchase price of… Read more
Council tax – a comprehensive guide
What is Council Tax? Council Tax is a local taxation system used in the United Kingdom to fund various public services provided by local authorities. These services include rubbish collection, road maintenance, libraries, schools, and emergency services. It is typically paid by households and is based on the estimated value of the property in which… Read more
Mortgage payment holidays explained
Understanding Mortgage Payment Holidays A mortgage payment holiday can provide much-needed financial relief for homeowners facing temporary financial difficulties. However, it’s essential to understand the details, benefits, and implications of taking a payment holiday before making this decision. In this article, we’ll explore what a mortgage payment holiday is, how it works in the UK,… Read more