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HMT Consultation Paper – New Tax Rules for Residential Properties over £2m

HM Treasury has recently published its Consultation Paper on the new property taxes first outlined in the Budget earlier this year.   See below a brief overview of the main suggestions.  The consultation period runs until 23 August. Since the Budget in March, Stamp Duty Land Tax of 15% already applies to new purchases above £2m in value by "certain non-natural persons"; It is also proposed that...

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Japanese Knotweed in Islington – the mortgage perspective

A recent Islington mortgage case I worked on has highlighted two words that should strike fear into any homebuyer or homeowner: Japanese Knotweed.   It might sound exotic, it might even look quite pretty. But beware, this is no trivial matter. In fact, having spoken to a number of experts, it definitely sounds more 'Triffid' than 'trivial'.   The problem is that this is a very aggressive plant, growing at...

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Budget 2012 Summary

Much like last year, the weather has been very kind to George Osborne on Budget Day.   Please find below an brief overview of the main points, with some thoughts and opinion thrown in. Hope it's useful.   Like the weather, the overall message this year was much the same as last year. While austerity remains the order of the day, I can't help but think that there was...

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To buy or not to buy… that is the question

With property prices in London pushing back unerringly towards their pre-crisis levels, you would be forgiven for thinking that we never really went through a crisis in the first place.  (A quick visit to your nearest mortgage lender might bring that idea back down to earth, mind!)   Unfortunately, for those people who live in rented accommodation, the question of whether to buy or rent is perhaps...

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