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For questions that relate to the laws, practices, and products of the United Kingdom.
0
votes
Why don't most lenders lend on a leasehold property if the lease has fewer than 70 years?
Let's try to determine what the value of such a lease would be to an investor, to see how it would look financially, rather than as a personal home:
First, consider the value of a 'fully owned' prope …
3
votes
Buying an apartment in cash and remortgaging later (asking price very low due to constructio...
Ask yourself 'Why can't I get a mortgage due to the construction?'
I don't know about the specifics, but I assume it is because the bank considers property with such construction ongoing to be higher …
6
votes
Accepted
People are giving me money for no good reason - how do I tax it?
I am not well-versed in UK tax matters, but quick googling seems to indicate that recipients do not pay tax on received gifts, although the givers may have to pay tax on amounts that they gift others, …
2
votes
Accepted
Buy Flat And Use as Extra Collatoral for Mortage
In simple terms, the question you are posing seems to be this:
"How should I invest my £100k prior to buying a house, if at all?"
Forget about the 3-year timeline for now. Assume you have £100k in the …
4
votes
Accepted
Is it advantageous to use a lower-interest rate loan to enrich the savings account of an off...
It is unlikely that the plan is worth doing, given the numbers you have used. However, your thinking is correct that given enough of a rate differential, it could be worth doing.
Consider that for ea …
3
votes
Setting up a Limited company online
How certain are you that setting up an LLC is something that would benefit you? How aware are you of how they work, what filings they need, etc?
If you are perfectly confident in the entire process, t …
2
votes
Best practice on managing multiple pensions
There are a few benefits to work-based retirement plans, as opposed to personally managed plans you might otherwise enter yourself. Understanding these will likely guide how you choose to consolidate …
194
votes
Accepted
I'm supposedly eligible for an inheritance from a distant relative. Offer appears to be legi...
In any instance where your hackles are raised about a possible scam, but you have reason to move forward regardless, approach with caution, and complete whatever due diligence you can, without direct …
49
votes
On paper I have 1 share in my company. How can I sell a smaller percentage of my company to ...
There are 2 basic ways to have someone buy partial ownership of your company:
They can buy shares that you already own. This means they will give cash to you personally, and that if you sold the sha …
17
votes
Should I invest in my house, when it's in my wife's name?
The best answer to this question will depend on you and your wife. What is 'fair' for some may not be 'fair' for others. Some couples split expenses 50:50. Some split proportionately based on income. …
5
votes
US shareholder/officer of UK private limited company - what are the tax obligations?
Personal taxes paid by a shareholder are a very complex issue, and are generally not thought about when structuring these types of agreements. For example: Assume you both live in the US. You have a s …
1
vote
Family inheritance and property
I have no commentary (due to lack of knowledge) about UK estate / gift tax laws. However I will say you are approaching this in what seems to be the correct way:
Get everything in writing.
This is …
110
votes
Random and anonymous `western union´money transfers into my account, is it a scam?
This is either a scam, or a legitimate error by the sender [more likely a scam, just due to statistical likelihood, though details are unclear]. Either way, the money isn't yours, and eventually you w …
3
votes
The last 3 digits swift code entered wrong branch. I asked to recall the international trans...
If the swift code + account number results in a meaningless account that doesn't exist [statistically the more likely option], then you are in luck: Eventually the receiving bank will acknowledge the …
1
vote
What is a good starting point for a new investor?
"Not a homeowner, but will likely start looking in the next 2-3 years"
This is the key point of your question. A 2-3 year 'investment horizon' is too short of a time frame to invest in equities, or an …