Is a ground rent cap a good idea for leaseholders and why is it controversial?
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This is Money Podcast
This episode is titled:
Is a ground rent cap a good idea for leaseholders and why is it controversial?
Notable Quotes
"Ground rents are essentially paid for the right to live on that freeholder's land, and they're controversial."
"Ground rents and service charges are incredibly unfair, especially when they start spiralling out of control."
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Get More InsightsEpisode Summary
In this episode, the hosts discuss the government's announcement of a cap on ground rents for leaseholders, aiming to limit them to £250 a year by 2028. While this is welcomed by many, concerns emerge about the effectiveness of this reform, as it does not address other significant costs such as service charges and the difficulties in selling flats. The cap is seen as a small step in a larger effort to reform the leasehold system, which some argue is fraught with unfair practices.
The discussion also touches on an uptick in stamp duty investigations by HMRC, attributed in part to recent high-profile political scandals. Investigations are reportedly up 88% and may reflect broader attempts to crack down on tax dodging. The hosts speculate about Angela Rayner's past missteps having prompted this increased scrutiny.
Additionally, the episode covers the volatility in precious metals markets, with gold and silver prices experiencing significant increases partly due to geopolitical tensions. The hosts discuss different factors that contribute to these price movements, including inflation fears and shifts in market demand.
The conversation shifts to savings and the impact of recent cuts to interest rates by NS&I on easy access accounts, as there is a comparison with rising cash ISA rates. Lastly, a highlight is given to wood burners, discussing the controversy surrounding their environmental impact while also providing insight into how they can be used in a more sustainable manner, along with tips for potential users.
The discussion also touches on an uptick in stamp duty investigations by HMRC, attributed in part to recent high-profile political scandals. Investigations are reportedly up 88% and may reflect broader attempts to crack down on tax dodging. The hosts speculate about Angela Rayner's past missteps having prompted this increased scrutiny.
Additionally, the episode covers the volatility in precious metals markets, with gold and silver prices experiencing significant increases partly due to geopolitical tensions. The hosts discuss different factors that contribute to these price movements, including inflation fears and shifts in market demand.
The conversation shifts to savings and the impact of recent cuts to interest rates by NS&I on easy access accounts, as there is a comparison with rising cash ISA rates. Lastly, a highlight is given to wood burners, discussing the controversy surrounding their environmental impact while also providing insight into how they can be used in a more sustainable manner, along with tips for potential users.
Key Takeaways
- The government plans to cap ground rents for leaseholders in England and Wales at £250 a year from 2028, but this may not solve the larger issues in the leasehold system.
- HMRC stamp duty investigations have increased significantly, likely influenced by high-profile tax issues involving politicians.
- Gold and silver prices have surged recently, with geopolitical tensions driving many investors towards these assets as a safe haven.
- NS&I has cut interest rates on some of its savings accounts, making them less competitive compared to other market offerings.
- Wood burners can be used sustainably if proper considerations and regulations are followed, despite their previous negative reputation.
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