Chancellor raises stamp duty threshold to £175,000

Chancellor raises stamp duty threshold to £175,000

Buyers of homes worth up to £175,000 will not have to pay stamp duty, Alistair Darling has announced, as he promised the country would "get through" the economic downturn.

In a surprise move to try to revive the housing market, the embattled Chancellor said that the £125,000 threshold at which buyers pay 1 per cent stamp duty will be raised from tomorrow and frozen at the new level for one year.

Some see this as a positive move by the Government to stimulate first time buyers, however the stamp duty was never the problem, it has always been the initial deposit which is, and will always be the largest stumbling block.

"If there are no competitive mortgages available then knocking a maximum of £1,750 off a purchase is a complete and utter waste of time," said Michael White, a property lawyer at Dawsons LLP, noting the average property price in London stands at around £375,000.

There is a small advantage to property investors, but in the grand scheme of things what we all need is Lenders to shift the emphasis back to the recognition the use of incentives. I do not think we will get back to the days of No Deposit Finance, however as we are seeing better rates from many Lenders you can bet your life that one will take the plunge soon.

It is no surprise to hear that the only real winners in all of this is the Housebuilders.

Their shares have leapt today at the beginning of this year long Stamp Duty "holiday".

The UK biggest housebuilder 'Wimpey' has seen its share price clime by 8.9% to 61p, while Persimmon's stock rose 11 per cent to 428.5p.

Bovis Homes, Bellway and Barratt Developments also saw their shares jump by 6.4 per cent, 6.9 per cent and 5.7 per cent respectively.

Andy Phillips

1 Day Seminar with Dan Peacock and Simon Zutshi

1 Day Seminar with Dan Peacock and Simon Zutshi

Last Sunday we hosted and ran an Event in conjunction with Dan Peacock from JamesPDaniels and Property Guru Simon Zutshi. Dan has spent over 9 years in the Mortgage Industry and has worked with hundreds of property investors helping to finance their deals. He has consistently provided solutions to his clients who work with purchasing property Below Market Value (BMV)

For years Dan has offered products which enabled his client (me included) the opportunity to purchase property with little or no cash into the deal.

Today the market has changed dramatically, Lenders have pulled thousands of mortgage products from the market, making it very difficult to fund these deals anymore.

Because of this there has been a huge amount systems and schemes trying to get around the Lenders criteria to be able to still get into a property with "No Money Down"

The problem is that most of these systems run by scheme operators have implications which most investors do not understand. Implications which could lead to Mortgage Fraud or even evasion of TAX.

The Event last sunday informed the delegates of these implication. Now don't get me wrong, I have looked at lots of these systems and some of them are incredibly well thought out and work very well, however, others are appalling and leave the investor open to legal ramifications which they have no idea about.

Take a look at our report on the day here

Along with Dan Peacock we also had Property Guru Simon Zutshi, Simone spoke about how to take advantage of todays market and looked at some alternative funding solutions.

Simon has also written a fantastic report which you can download free called "The Death of Property Investing" which you can download for FREE Here

This underground report is quietly kicking up a storm on the internet at the moment.

Not least because the author Simon Zutshi is a #1 best-selling property coach, and mentor to hundreds of professional property investors. So when Simon releases a report spelling the Death Of Property Investing, you stop and take notice!

If you want to come to the next event or want more info on all our events email me at andy@businessforlife.co.uk

"Reward for Effort"

We are all striving for that elusive goal of financial freedom. We are all looking for the answer to our prayers. We try and find the secret to unlocking the floodgates that will pour money into our bank accounts, and somehow these miracles never seem to appear.

Some seek it in property, some in internet marketing, others think that putting cash into shares is the answer. I know people who have spent so much money on learning how to become rich and made themselves poor because of it.

The answer is simple, the answer is known to you if you only look.

I have met people who, when introducing themselves say "Hi. I'm John, Im an entrepreneur" and then go on to ask me if I have a business they could tap into..

Stop reading all the books on wealth mentality and then just go back to work. Stop going to seminars and doing nothing about it...

Join the our group on Facebook "Business or life"
Join our Mailing list for regular updates and advice HERE

We offer many ways in which you can increase your income, in the real world. The world where you really have to do stuff, like call people and sell things, or spend time on your computer and work real hard to get a web site together, and market it.

In other words if you want more money then find something you can start in your spare time, focus on it, work hard at getting it right and see your income rise because of your efforts.

There are no easy fixes in life, just old fashioned "Reward for Effort"

We send out opportunities, on a regular basis, which you can increase your income or your wealth simply by doing.....


So here is my invitation to you. Join the group "BUSINESS FOR LIFE" on Facebook or Sign up for our email updates Business for Life WebSite and get your teeth into something REAL....

Amazing week

Wow, this has been a busy and incredibly inspiring week, I have been working on a presentation which my business partner Yvonne Davidson is giving at the Women Entrepreneur Summit which is on 13th July in Manchester. Yvonne will be sharing her experience on the core subject of the importance of having multiple income streams.

 Go to - http://womenentrepreneursummit.co.uk/ to find out more.

We are finalising the event we are running for Dan Peacock which will be held on August 17^th on the incredibly important subject of how to purchase property Below Market Value (BMV) with little of none of your own money, whilst making sure you stay legal and avoid the tax evasion trap. This is a must for all property investors.

 Go to http://businessforlife.co.uk/bmv_event.html to book your place.

We also had a meeting today with a company we are going into Joint Venture with which has an amazing model which we can all share in within the online marketing arena. This project offers a route to anyone looking to make money online. We will be unveiling the program in a few weeks. If you want to get into online marketing as a passive residual income then email me at andy@businessforlife.co.uk and I’ll keep you bang, up to date with the progress.

Revealed - The Truth about BMV and "No Money Down"

The latest event to be held by Dan Peacock will be held on 17th August at the Renaissance Hotel, Bath Road, Heathrow.
This is a 1 day educational seminar covering how the latest spate "No and Low Money Down" deals can be used and the legal and tax implications associated with these new and sometimes untried systems.
Dan Peacock is a well respected, down to earth mortgage broker with 9 years experience in providing mortgages to Property Investors and Professional Landlords.

His reasoning behind holding the event was that many of his clients have been coming to him with property transaction which had inherent problems.

Dan commented "With many of the lenders pulling investment and buy-to-let products, there are lots of new systems. Some systems are on the whole OK, however, the client really needs to understand the implications. It's not too strong to say with some of the systems out there they leave the client exposed to mortgage fraud and in some cases tax evasion".

If you want to book onto this event, tickets are only £97 inc. VAT Click here

Joint Venture - What is is?

There is an old adage, "if you cant beat 'em, join 'em. This in essence is the nature of a joint venture. Joint Ventures are simply a way to significantly increasing your market reach. 

Think of it this way, whatever business your in at the moment you have a client base, or database of clients. Say for argument sake you have a good qualified database of 1000 clients. To increase business revenue, most companies would turn to advertising. But think about it for a second. 

Ask yourself one question. 

what do my costumers need, that I can't provide for them?

When you find the answer, go and find a great company in your area, who can supply your customers. and simply ask for a referral fee.

The added bonus to this is of course, is that the very same company may be able to introduce your business to their client. You would then reciprocate, by offering them a referral fee.

In business terms, a Joint Venture is a mutual business alliance to firstly increase each others client bases. The second beneficial objective could be to enable the 2 companies to join forces to penetrate markets they couldn't consider before. Larger markets or international markets.

For more information please feel free to contact me - andy@businessforlife.co.uk

SAVE MONEY BY LEASING YOUR COMPUTER AND OFFICE EQUIPMENT

WHY should a business lease?

Starting or running a small business can be draining on the wallet. There are so many reasons why any business should seriously consider leasing their office and IT equipment over purchase or rent.

The first one is that leasing improves the companies cash flow. In fact this is the main advantage, it simply frees up cash. Leasing is also easier to finance than purchase. The simple fact is that if you were to contemplate purchasing your equipment with a capital equipment loan from the bank, they would usually want to see the last 2-3 years of financial records. For many new companies this would be prohibitive. 

Keeping pace with Technology

Every business needs to keep pace with the latest equipment available to it and the major advantage leasing provides over purchase is the ability to always have the very best in computers, communications, printers, copiers etc.

Getting what you need, when you need it

When a new big project comes in, you may have to employ more people and furnish them with new equipment, computer and the like. Leasing enable you to get these in fast without massive capital outlay.

I won't even go into the tax benefits, but you should. Speak to your accountant or financial director, you may have a very pleasant surprise..

Andy Phillips