Lifetime ISA – What you need to know

 

The new Lifetime ISA launch date is 6 April 2017. It will be a no-brainer for first-time buyers as the government will add a 25% bonus on top of what you save – this means there will be £32,000 of free cash. For retirement savings it works the same way, but whether it beats a pension or not is a much trickier conversation. If you would like to assess the options available to you, please contact 1st Financial Foundations for further information on 01908 523 420 or email info@1stff.co.uk

How to cope with loosing buy to let tax relief

property tax

Are you an individual or a Company affected by the change in tax on property?

The recent tax change can either hold a cloud or silver lining for you… how best to cope with these obstacles.

You could be feeling a double blow with the announcement that tax relief on buy-to-let mortgage interest payments would be slashed from April 2017 and that buy-to-let properties (and second homes) would incur an extra 3 per cent stamp duty. If you’re new to buy-to-let, you might not appreciate the grand scale of this is. Up to now, people buying to let have been able to claim tax relief on their mortgage interest payments at their marginal rate of tax. This means that a basic rate taxpayer would get 20 per cent tax relief, but those at a higher rate would receive 40 per cent relief, while top-rate taxpayers could claim 45 per cent.

Supporting the homeless in Milton Keynes

It has come to our attention the growing number of homeless people in our Milton Keynes local community. 

As the winter months kick in and we experience the noticeable drop in temperature. What we all take for granted is a place to sleep and call our home. 

Help the homeless

Help the homeless

We have recognised the important work of Winter Night Shelter MK (WNSMK). Over the last 5 years they have provided overnight accommodation to homeless and vulnerable people during the extreme winter months. They also help people into accommodation and work – in essence they help rebuild lives.

“People arrive at the Winter Night Shelter for many reasons. They can be old or young, men and women. Some are long term homeless, but many are the victims of circumstance. They may have deteriorating domestic issues, They may have lost jobs and no longer be able to pay for accommodation. Illness and disability are also factors that make people homeless.”

1st Financial Foundations have chosen to support the charity and will donate 10% of our fees for each mortgage case we receive over the next 3 months from December 2016.

To find out more about Winter Night Shelter or make your own donation please view their website: www.winternightsheltermk.com

Yash Tosar
1st Financial Foundations