Sunday, Oct 29, 2006

"Never, never never ever...

Times Online: Getting at the cash in your buy-to-let

...sell an investment property"

That's what the salesman said at a free property investment seminar I attended.....I won't mention the companies name.....but it certainly wasn't a company called "outside lane".

"Did you know that equity release is a tax loophole....a sort of untaxable 'directors dividend'" he also said.

Well here we have a company promoting such wise words and all at the bargain price of 6.75% componded.

You can almost here the VI community now: "If we can only persaude the crowd to hold at whatever cost, the house of cards might prevent toppling"

Posted by btloptingout @ 10:14 PM (515 views)
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3 Comments

1. btloptingout said...

I particuarly liked the "Paragon statistic":

"The average buy-to-let portfolio worth 1.5m has been boosted by about 100,000 in the course of the past three months alone, according to Paragon, a mortgage company."

Where does Paragon get these "facts" from?

Sunday, October 29, 2006 10:18PM Report Comment
 

2. the bald man said...

Does not look like anything new just a mortgage with rolled up interest. The CGT idera also nothing new. It is intended to avoid a double tax charge under CGT and IHT.
Of course whether there is any money in the estate at the end is determined by the market at the time of death and the amount of rolled up interest and what ahs happened to the withdrawn cash. What is their advice for using the cash released? Invest in more property?

They also fail to mention the interest paid is non deductible aagainst other income sources.

Monday, October 30, 2006 10:28AM Report Comment
 

3. inbreda said...

I can't see that there is any need for the tax system to be quite this complicated. Maybe I'm wrong.

Monday, October 30, 2006 03:42PM Report Comment
 

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