House price rises could impact upon secured loan payments
The pace of house price growth has seen one in three detached properties in Britain be worth more than the inheritance tax (IHT) threshold, new figures reveal.
According to a study by Halifax, nearly a third of detached houses are priced above the new £300,000 threshold, which as a result could impact upon the amount payable on a secured personal loans.
Group economist Tim Crawford said: "House prices have risen at a much faster rate than the inheritance tax threshold over the past decade. That has led to a sharp rise in the number of homes valued above the threshold."
The research revealed that 757 postcode districts across England and Wales now have an average detached house price above the IHT.
Meanwhile, around 88 per cent of detached property sales in London were reported to be above the IHT threshold.
Research by Credit Action revealed the value of secured personal loans taken out against homes stood at £1,087 billion at the end of January, a rise of 11.5 per cent from the same time last year.
Interfinancial providing you with breaking secured loans news.
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