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Tag: RATES
RATES
The differences between fixed and capped rate mortgages
Fixed-rate and capped-rate mortgages are two types of mortgage products that offer different ways to manage the interest rate on a home loan. Here are the main differences between the two: Fixed-Rate Mortgages A fixed-rate mortgage has an interest rate that remains the same for a specified period, typically between 2 to 10 years. Here… Read more
Overview of Inheritance Tax (IHT) and 2024 rates
Inheritance Tax (IHT) is a tax on the estate (the property, money, and possessions) of someone who has died. The standard Inheritance Tax rate is 40%, which is only charged on the part of the estate that’s above the threshold. Thresholds and Allowances Tax Rates Exemptions and Reliefs Seven-Year Rule (Potentially Exempt Transfers) Gifts made… 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