If you’re in negative equity and have to move, what are your options?
It’s estimated that 8% of properties are in negative equity. Can you move?
With house prices being flat in many areas, or having fallen, it’s estimated that over 800,000 households could be in negative equity. If you don’t need to move, negative equity is far less of a problem. But if you’d like to move – or you have to sell up because of your job – what can you do? Here are some options.
Getting the best remortgage deal; fees, charges and rates that matter
If you’re thinking of taking out a mortgage, you need to consider more than just the headline rate.
Interest rates have remained low but the cost of a mortgage (both fixed and tracker deals) has risen recently because the cost of borrowing to the banks have risen. Even so, historically, mortgage rates on some low loan to value deals are pretty competitive. At least, the headline interest rate's appealing.But what about the extra costs you should consider? Here’s a quick rundown of costs, charges and fees that you should look out for if you’re thinking of buying a property or remortgaging.
The government has changed the tax rules on furnished holiday homes which mean you’ll have to let it out for longer.
You can get tax relief if you rent out a furnished holiday home in the UK or Europe, but the rules are about to be tightened up, making it harder to qualify.
Updated 25th April 2011
If you own a holiday home in the UK or Europe (it actually extends to any property in the European Economic Area) you’re able to claim tax relief on your costs, which means you can deduct costs from the rental income you receive before you pay tax. But the government's tightened up the rules from April 6th 2011, with an increase in the number of days that you have to rent out your property in order for it to qualify for tax relief and restrictions in how you can offset losses you make.
