Types Of Bankruptcy

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July 21st, 2007

London homes break 300,000 barrier

The average cost of a home in London has broken through the 300,000 barrier for the first time, figures show.

Britain’s biggest mortgage lender Halifax said the average price of a property in the capital was now 313,122. At the same time average house prices in the South East breached the 250,000 mark to stand at 259,904.

The group said the gains during the second quarter of the year meant the average property in London was now more expensive than the new 300,000 threshold at which inheritance tax kicks in, while someone in the South East buying an average-priced property would now have to pay stamp duty of 3% of their home’s value rather than 1%. Read more



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