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Seller packs &#39unfair&#39 for North

The Government&#39s plan to clean up property selling practices has been criticised by lenders for potentially costing Northern homeowners more than in the South.

Lenders claim the scheme for homeowners to provide sellers&#39 packs to buyers in England and Wales is skewed unfairly as the cost of the pack is fixed, costing more in percentage terms in the North where house prices are lower.

A nationwide fee of between £500 and £700 is planned.

Legal & General PR manager (housing) Peter Timberlake says: “I am certain that the Government will put a positive spin on the results. Sellers&#39 packs are likely to become mandatory.”

Connell Estate Agents chief executive Stephen Shipperley says: “Many people who put their house on the market just to see what it is worth end up selling. The packs will make the cost prohibitive so most will probably not bother.”


Gartmore aims for income & growth

Gartmore’s new absolute growth & income trust is a split capital investment trust aimed at investors who are looking for long-term growth and high income.The trust will invest in a combination of two portfolios. Sixty per cent will be a growth portfolio, which will invest in UK growth companies with small to medium capitalisations and […]

Split and polish

Over the last two years the most dynamic sector of the investment trust market has been the split-capital trusts. These trusts are well established but there has been a revival of demand.This year, over 30 new funds will be launched, including a number of existing trusts which have been restructured. In 1999, 38 split-cap trusts […]

Lenders still in dark grey areas

The decision not to include mortgage advice is a major weakness in the Government&#39s regulatory regime, say both Opposition parties.Conservative Shadow economic secretary Howard Flight and Liberal Democrat DTI spokesman Vincent Cable say the two issues cannot be separated. They believe the Government must act to bring in the regulation of mortgage advice to protect […]

RSAIFS introduces UK planning pack

Royal & SunAlliance International Financial Services is launching a UK inheritance tax planning pack. The pack has a general guide to inheritance tax including sections on rates, allowances and mitigation techniques. It also contains information about RSAIFS&#39 gift, loan and capital access trusts with an advisers guide. RSAIFS technical services consultant Brendan Harper says: “The […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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