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About Andrushka

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  1. The article is about the Nakheel Tower (planned to be the world's tallest building), not the Burj Tower which is currently the world's tallest building.
  2. There is no mention in all of the diatribes against IHT that the nil rate allowance applies to individuals NOT couples. So long as your parents are married they can relatively easily arrange their financial affairs to raise their effective IHT threshold to £600,000. Most married couples leave everything to each other, then to the children, so only one partner’s ‘nil rate allowance’ is used. A Will Trust is two separate wills, with a direction that the first partner to die may leave up to the nil rate band ‘in trust’ for the surviving partner, and then the children. As the surviving partner is appointed as the trustee, they can dictate how the assets are used or disposed of and therefore can use all income, remain in, sell or mortgage the family home and spend as much of the capital as they need. However, when the second partner dies, any funds remaining in the trust may pass to the children free of inheritance tax. To me (and I would think almost everybody) a couple with assets of £600,000 is rich. Unless the Tories are also planning a change in the law on Trusts, then effectively they are proposing a threshold for a married couple of £2million!!
  3. Because of the Land Registry lags and small sample sizes, it looks to me as if the data is currently unreliable after September. However even going back to then if you look at the annual figures it is plain that many city centre flats are heading for big trouble: Leeds: http://www.home.co.uk/guides/house_prices_...mp;endyear=2006 Median price down 7% year on year and much more over 6 months. Nottingham: http://www.home.co.uk/guides/house_prices_...mp;endyear=2006 Median price down 19% Birmingham http://www.home.co.uk/guides/house_prices_...mp;endyear=2006 Median price unchanged
  4. The FT analysis compares the price of new flats. When a BTL new flat purchaser comes to sell up he/she will be offering a second hand flat. Does anyone know the typical percentage price premium paid for new flats over old, because this also has to be factored into the overall ROI calculation? I would have thought that trying to sell a second hand flat in a city centre oversupplied with new builds would be hard work.
  5. How can you get away with this racist tosh? 1. The number of Roma Gipsies in Romania was measured as 535,000 and in Bulgaria as 371,000 in the most recent censuses. 2. Why would they all come to the UK where there is a minimal Roma community and crap weather as opposed to Spain or Italy? 3. In order to come to Britain for more than 3 months, they will officially require work permits. Do you have a shred of evidence that the Romanian Government is going to pay the flights of people to stay illegally in the UK?
  6. Whilst you can't claim maintenance to offset the tax without evidence to show for it, you CAN claim a wear and tear allowance equivalent to 10% of the rent to cover furniture renewals etc. If you are a skinflint landlord you can usually get away without actually spending this and legally claim the allowance.
  7. This so reminds me of just before the last crash when my contemporaries were so desperate to buy anything to start climbing that 'property ladder' I saw a flat conversion in Hackney with a friend that essentially consisted of a corridor with a bathroom at the end of it for around £50k. Luckily my friend did not succumb and within months the market had turned. Stuff like this eventually lost at least 40% of its value. I guess with the rampant inflation last year in Hackney, hamster cages are probably now going for at least treble that.
  8. Based on my experience in a nice part of W7 and anecdotal evidence from elsewhere in the Borough the guy is spouting rubbish. I would agree that prices were pretty well static last year. I completed on a sale in November (I'm now STR), having accepted an offer in August after 3 months on the market. Two others in my road put theirs on the market during the Autumn and promptly withdrew them again after receiving only 'derisory' offers. However there seems to have been a bounce at the beginning of the year with some highly optimistic asking prices - this is the most extreme example. In comparison ours (3 bed, but same size) sold for 270k and a similar 2 bed sold for 260k in October. As my wife is not happy renting, I view such prices with zero enthusiasm unless it it the last ditch spike before collapse.
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