Section 24 was introduced in April 2017 affecting tax relief for landlords. What this means is that landlords will no longer be able to claim mortgage interest, or any other property finance costs against net rental profit. Instead, rental profit will be taxed on the full rental income, not just the profit by 2021, affecting Read more about The 4 Years of section 24[…]
1- Rebuild value If something happens to your home, are you sufficiently covered? Always make sure you are fully covered should you need to rebuild your home from scratch. At the opposite end of the spectrum, make sure that you haven’t set your rebuild value too high, or you could be paying too much for Read more about 5 Ways to Make Your House Insurance Cheaper[…]
British savers are now protected up to £85,000 should their bank collapse, but not many people know it is per licensed institution not by account. The Financial Services Compensation Scheme which protects savers in the UK, says should the unfortunate happen, compensation should be in around 7 days, £85,000 for a single account and up to Read more about Is your money protected?[…]
With UK properties out of reach to the average first time buyer, the UK government has stepped in with a rudimentary measure. The ‘help to buy ISA’ offers first time home buyers the chance to save into a cash ISA. The government will then add 25% of the amount you have saved, when you buy Read more about Help to buy ISA[…]
From PCP to logbook loans, there are a myriad of loans on offer attached to cars, although it can be daunting, we thought we should take a look at each one. Personal loan A personal loan is a much favoured way of buying a car, you own the car outright with no mileage restrictions. Unfortunately Read more about From PCP to logbook loans, car finance made clear[…]
A much needed law change happened on the Ist October 2015, that went pretty much unnoticed. Did you know that before that date, if you owed a creditor as little as £750, they could apply to the courts to make you bankrupt? Implications of bankruptcy – Any assets such as your car or home could Read more about Making forced bankruptcy harder[…]
Based on your financial history, a credit score is what companies will look at in order to help them in their decision on lending you money, wether you are ‘credit worthy’. It is not just the big ticket items such as mortgages and loans, but also credit cards, new phone contracts and even insurance, all require Read more about Know your credit score[…]
Retired? As important as savings and pensions are, how you spend your money during this time is just as important. Living in too large a property If you are still living in a large family home, then consider trading down to a smaller property, do you really need those extra bedrooms and bathrooms? By trading Read more about Retired? Don’t waste your money![…]
At Charther CT we come across many self employed contractors and freelancers who feel cold shouldered by traditional mortgage lenders. Over 50% of people who are self employed feel that they may never be able to even get a mortgage! Before the recent credit crunch, potential borrowers had the option of a self-cert mortgage, where there was little Read more about A cold shoulder for self employed mortgages?[…]