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Lib Dems plan to target the rich

The Liberal Democrats have unveiled proposals to tax extreme wealth. Shadow chancellor Vince Cable says: “I am determined that the Lib Dems will have a strong message of support – through tax cuts – for people of modest means who are being dragged into Inheritance Tax and higher rate Stamp Duty and ensure that these tax cuts are paid for by the very wealthy.”

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When a gift is not as good as it looks

When builders offer gifted deposits they are offering to pay the deposits on properties people are buying from them. Builders tend to do this on new developments, with deposits ranging from 5% to 15%. Other incentives can be offered such as cashbacks, payment of legal fees or Stamp Duty or purchase price discounts.

Halifax launches its HomeBuy deal

Halifax for Intermediaries has launched its Open Market HomeBuy proposition, despite take-up with other lenders being low.

Profits underpin UK banks’ growth

Profit growth in wealth management, investment banking and international markets have been key factors in the growth of UK banks, KPMG’s UK financial institutions performance survey reveals.

Lenders can give excellent service if brokers help them

I completed paper mortgage application forms for a Woolwich remortgage for a couple of clients on February 10. The case was received by Woolwich four days later. The valuation was a non-disclosed electronic one, the LTV being some 30%. An offer was produced on February 15 and the remortgage was completed on March 1. I […]

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