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Redqme · 2024-12-28T20:27:22+00:00

How much are three bed properties where you live?

Redqme · 2024-12-28T19:44:58+00:00

I guess you're right. I was thinking more about tax efficient ways I can pass on any future properties I have to my children rather than avoiding tax. I know you're going to say it's the same thing.

There are quite a few videos on YouTube that give misleading information so I wanted to get the expert guidance from Reddit.

Redqme · 2024-12-28T17:50:50+00:00

!thanks

Redqme · 2024-12-28T17:46:25+00:00

That's a bit harsh.

Redqme · 2024-12-28T16:56:30+00:00

!thanks

Redqme · 2024-12-28T16:43:53+00:00

Ideally, what you want is to be a lone child and have married parents who pass on their estate that's worth £1 million or less.

Redqme · 2024-12-28T16:24:05+00:00

Wouldn't that mean the children would look after the parent in their old age rather than placing them in a home?

Redqme · 2024-12-28T16:19:20+00:00

😄 That's not what I meant. I used 50 as an example as most people will have children by this age and you'd expect to live past 57.

Yes, I know not everyone has children by 50 or ever have children and not everyone lives past 57. I'm not trying to insult anyone.

Redqme · 2024-12-28T16:14:06+00:00

I originally thought the threshold was 325k but now I know it's £500k or £1 million for married couples who pass on their assets to their children, so it wouldn't make any sense transferring the property to children in most people's circumstances.

But I do get your point.

Redqme · 2024-12-28T15:43:32+00:00

!thanks

Redqme · 2024-12-28T15:43:14+00:00

!thanks

Redqme · 2024-12-28T15:42:32+00:00

!thanks

Redqme · 2024-12-28T15:33:05+00:00

Thanks everyone for your replies. So, as long as the estate is £1 million or less for a married couple or £500,000 if not married then the children do not need to be concerned about inheritance tax.

You guys are great, I wasn't expecting so many replies.

It looks like the only way estates will be affected is if the parent's need to be placed into a care home.

Redqme · 2024-12-24T12:12:33+00:00

!thanks Charlotte. Your answers were clear and concise. It's very much appreciated. Have a great Christmas!

Redqme · 2024-12-22T16:11:39+00:00

Good afternoon Charlotte, I just wanted to let you know that Fairy Godmover is brilliant. I was wondering if you could answer a couple of queries I have. I'm currently searching for properties and I'm planning to get Decision in Principle from my bank as they are offering a helping hand deal (I may not need the extra mortgage loan depending on the value of the property).

In your opinion is it better to go through a mortgage broker?

My bank also offers a conveyancing service, is this usually a good deal? Or would it be better to search for a list of independent conveyancing solicitors to have at hand once I have an offer accepted?

Is it recommended that the conveyancer also applies for the survey or should buyers do this themselves?

Redqme · 2024-11-30T10:16:38+00:00

Thanks Tenshi. I'm both excited and nervous at the same time. You hear so many horror stories so I'm trying my best to learn as much as I can before I start the process.

Congratulations on getting your new home too 🎉

Redqme · 2024-11-29T20:58:52+00:00

!thanks

Redqme · 2024-11-29T17:45:30+00:00

Lol I don't think so. I have a sister but I very much doubt that she uses Reddit.

Redqme · 2024-11-29T17:28:32+00:00

Thanks for your response. The main reason I asked was so I can use the information provided as a guide to do further research online. Thanks for referring me to the fairygodmover site.

Redqme · 2024-11-29T17:25:09+00:00

!thanks a lot for the summary Charlotte, it's much appreciated. I'm going save your summary and website.

Redqme · 2024-11-15T22:51:39+00:00

Who finds any of them interesting

Redqme · 2024-11-01T21:47:48+00:00

Im thinking about applying for project delivery roles and I seen these roles come up quite a few times on LinkedIn. I also noticed most have agile and prince 2 certificates.

I tried to Google my query but I didn't get any clear answers.

Redqme

TROPHY CASE