Tax Implications of Paying Off Someone Else’s Mortgage UK Paying off someone’s mortgage in the UK might seem kind, but it could mean tax issues for both of you. Let’s see what those are and how to handle them. Inheritance Tax on Gifts A big concern is inheritance tax if you help a relative with […]
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Can You Pay Off Someone Else’s Mortgage In The UK?
Can You Use Retained Profits For A Mortgage Application?
What Exactly Are Retained Profits? Retained profits, also known as retained earnings, are the money your company keeps from its net income instead of paying it out to shareholders as dividends. This money is then invested back into the business to fund growth, new projects, or asset purchases. It can also be held as a […]
Should I Pay Off My Mortgage Early Or Invest?
What’s My End Goal? Your overarching financial objectives play a major role here. Are you prioritising: There’s no right or wrong end goal, it’s personal preference. But being clear on your primary aim makes the decision easier. Before You Overpay or Invest… Before rushing to overpay your mortgage or jump into investments, take a step […]
What Credit Score Do You Need For A Mortgage In The UK?
What is a Credit Score? Your credit score is a number that represents how reliable you are when it comes to borrowing money and making repayments. It’s calculated based on your credit history–things like credit card payments, past loan repayments, missed bills, etc. The higher the score, the better. Credit reference agencies like Experian, Equifax […]
How To Save For A Mortgage Deposit?
Saving for a deposit on your first home can be tough, but a clear plan will help you reach your goal. Your first step? Figure out how much you need to save. 💷 In the UK, a typical mortgage deposit is at least 5% of the house price. With average UK house prices sitting at […]
Top Questions To Ask When Viewing A House
Why Are the Sellers Moving Out? When viewing a house in Britain, ask why the sellers are moving. Their reasons can be useful. Are they splitting up? They might be keen on a fast sale and accept a lower offer to get the money divided. Perhaps they’ve already bought another place and don’t fancy two […]
