Dating advices donts dos

Can he remortgage for 36,000 and get an interest reduction as he’s asking only for 40% of the house value?

As a rule of thumb the more equity you have the better the rate you will get.

A typical standard variable rate today is 6.5% and by shopping around there is no reason why you should not be able to reduce that to somewhere closer to 4.5%.

Given that the mortgage is relatively small it would be worth considering a fees-free deal so that the savings from a lower rate are not eroded by the switching costs.

Colin Dandle has lost the share certificate he had for British Gas. When he rang Lloyds TSB for a replacement certificate they wanted to charge him 56. He is a small shareholder and thinks this is expensive.

He’s not wrong! We are the fourth most expensive economy in the world - that’s why it’s 56!

The problem, however, is that if you’ve lost your certificate they’ll ask for “a letter of indemnity” to ensure the bank does not pay out twice if the certificate is found.

That’s really what they’re charging for.

Louise has a Wealthmaster Plan which was due to mature on 28 July. It was started as a joint 10-year savings plan, and although she knew she could make a lot or a little she didn’t know that she could end up with a good deal less than was paid in.

Is there anything she can do?

Unless Louise can demonstrate that she was badly advised when she took out the plan (if she received any advice) then there is not much she can do.

Many 10-year savings contracts have high upfront charges, which means that very little of the contributions are actually invested in the early years.

During the last few years, market returns have been poor, and this would also have contributed to the unsatisfactory investment return.

Regular savers who wish to invest in the stock market (bearing in mind that returns can be negative as well as positive) should consider using unit trust savings plans.

They pool money from lots of savers to invest in a wide range of shares. Unit trusts do not tie savers in for a minimum period, although stock market investments should always be considered for the medium to long term - five years plus.

Also, it is possible to vary the level of monthly contribution up and down - something that is not usually possible with a 10-year savings plan.

If a unit trust fund goes “off the boil” then there is nothing to stop investors moving on to another investment instead of being tied in for years to come.

Colin Knaggs would like to get a mortgage to buy a property that is currently a workshop.

The property will cost 95,000; he wishes to put 20,000 down but he is unable to get a mortgage unless he submits architects’ plans for the conversion.

Any lender will look at the security being offered by a property before they consider advancing a mortgage.

In this case part of the judgement would be for the lender to be satisfied that the works will be carried out, that the purchaser understands the costs and that planning consents etc are in place for the proposed conversion.

If any of these aspects are not covered to their satisfaction they are unlikely to lend, as they always assume the worst - namely that a borrower defaults.

They don’t want to be left with a partially completed building - after all they see themselves as lenders not property developers.

Angela Smale would like some long-term investment advice so she can save some money for her grandchildren. Can you help?

To start off with look around for the best cash deposit account - the ones designed specifically for children usually offer better rates.

They will also offer some extra perks like birthday cards and child-focused newsletters to encourage saving and make it more interesting for future years.

You can find details of the best rates on the internet at

You can open the account as trustee and will be able to operate it until the child reaches age 18. It is important to remember the tax rules, at least until the Child Trust Fund comes into effect.

Children, like adults, have a personal tax allowance (4,745 for the current tax year). Interest earned in a savings account that does not exceed the allowance is therefore tax-free.

Make sure that you complete Inland Revenue form R85 when you open the account (the bank or building society can give you this).

However, there is a restriction of the amount of interest that can be earned tax-free where the gift is from a parent. In this case, only the first 100 of interest earned each year (per parent) is tax-free.

If interest exceeds this limit, then the whole of the interest earned is taxed on the parent. Therefore, gifts from grandparents can be more tax efficient as the 100 rule does not apply.

If any of Angela’s grandchildren were born after 1 September 2002, then they will qualify for the Child Trust Fund. When this comes into effect, parents, relatives and friends will be able to contribute up to 1,200 per year into an account or investment plan, which will grow tax-free.

By starting now it is possible to build up the account, ready for transfer into the Child Trust Fund. I’m sure that banks and building societies will want to start marketing early and are bound to offer Child Trust Fund “feeder accounts” soon to capture new investors in advance of the launch.

Val has a question about Royal Sun Alliance endowment mortgages. She has a policy with them dating from 1987 and although she no longer pays sufficient towards her mortgage, she has kept it on as a savings plan. What do you recommend?

The straight choice is to keep it as a free-standing savings policy, meaning that the proceeds at maturity will be hers to do with as she pleases.

The alternative is to surrender or sell the policy and get some cash now.

It will only be when you get to the actual maturity date and look back that you will be able to say which course of action was better, as ultimately it depends on what happens to the investment between now and then.

If you are lying awake at night worrying about it then there is an argument to say get rid of it now, but if that is not the case and you are still happy that it was a long term investment then you should let it run its course.

Before deciding, check if the policy is with-profits or unit-linked, because if it is with-profits then there may well be surrender penalties that you will need to consider.

Nuala recently graduated and was given 200 as a graduation present from her father to invest in shares. She wants to know the best shares to invest in.

This isn’t really enough to invest in shares because commissions will eat into it.

It’s a good sum to use to learn about the stock market, though.

Warren Buffett, the investor and world’s second richest man, says the best way for most people to own shares is through an index fund.

She could look at exchange traced funds which track an index. You won’t beat the index but you won’t perform worse than it.

Adrian wrote to us to ask about buying UK properties using US mortgage lenders.

As a first-time buyer, he wants to know if this is a good way to get a mortgage with lower interest rates.

There are a couple of lenders in the UK (Accord and Skipton) that will offer sterling mortgages that are linked to US interest rates.

These are currently about 1% lower than equivalent UK rates and both deals carry hefty redemption penalties lasting for a minimum of five years.

US rates may look cheaper right now, but you should remember that they could rise harder and faster than UK rates.

Unless you are satisfied that you have the expertise to call where US interest rates are going, the small saving now could carry a far greater risk later on.

Mrs Maslen would like to put some money in a mid-term investment of about 10 years. She would like to buy a student house to let but her husband would prefer shares. Can you advise which is best?

Both investments have their attractions and their drawbacks.

First the buy-to-let property. Buying one property can be risky as there is not much diversification, and, depending on the area, may not be easy to sell if they want to cash in their investment.

Also, they need to think about buying this outright or taking out a mortgage for some of the purchase price.

If they buy outright, then all the rent, less expenses, will be taxable at their highest rate - therefore they may wish to consider who should own the property, and therefore receive the income.

If they take out a mortgage, then the cost of the mortgage interest can be deducted from the rent before tax is paid. In other words, the mortgage interest receives full tax relief.

Then there is the hassle factor. Will they manage the property themselves, or will they retain an agent? Also, it may be unrealistic to expect the property to be fully occupied at all times, so during tenant-free periods there will be no rent coming in (which could be a problem if this is used to support mortgage payments).

Finally, any profit on the sale of the property will be liable to Capital Gains Tax (less the annual CGT exemption in the year of sale - 8,200 per person for the current tax year).

Stocks and shares have had their own ups and downs. On the plus side it is easier to gain a spread of investment - for example, by investing in a unit trust. It is also easy to cash in the investment.

Furthermore, profits can be sheltered from tax by using the annual Isa allowance.

If the tenant and property maintenance issues do not put you off, then the answer really lies in which asset class you think is likely to grow faster during the next few years - shares or property?

What is the point, asks a viewer, of making a will sheltered by a trust if tax rules can be changed without notice, a deed of variation can be used to change the will and a beneficiary can make total use of the assets?

Can a will and a trust ever be fully protected?

A will outlines the wishes of the deceased regarding the distribution of their estate.

Through a will an individual may decide to bequeath his or her estate into trust, perhaps so that control can continue to be exercised over the assets in the estate, or, sometimes, for tax planning purposes.

Making a will is a matter of choice - the choice of how to distribute possessions after death - and should not be affected by changes in taxation.

Currently, it is possible for a will to be varied up to two years after death. This can be achieved only if the beneficiaries agree. The person making a will cannot stop local dating advices services refusing a gift in favour of someone else.

A trust is sometimes used in conjunction with a will so that continuing control can be exercised over the estate. For example, assets may be left in trust for a surviving partner for them to enjoy the income for the rest of their life, and on their death the capital passes on to children.

The trustees will have to stick to the terms of the trust, and cannot allow the beneficiary to make full use of the assets unless the trust rules allow it.

Properly worded wills and trusts can be extremely effective in ensuring that the deceased’s wishes are carried out.

Kenneth Craig bought shares in Ionica a number of years ago. “The shares are still listed on my portfolio even though the company folded,” he says. “Why?”

This was a telecomms company which changed its name to Micadent and distributed funds from the estate of Ionica to shareholders as dividends.

In other words, the company went bust and the administrator sold off the assets to try to pay off the debts and distribute anything left to the shareholders.

As of March 2003, there was about 4m to be distributed, which is probably why it is still on his portfolio - because there are still dividends due.

Now, you can write these off as a capital loss on your tax form and set it off against any capital gains elsewhere.

Any dividends you might get are subject to income tax in the usual way.

You can call the shareholder information line - 01223 257918 - or the joint administrators on 020 7212 5006 to find out more.

You can also donate them to charity if you want through

Simon and his wife are taking career breaks to spend six months travelling.

They will have 100,000 of total equity. Their budget for travelling is 20,000 and they intend to use interest-free credit cards for many of their expenses. Where would you suggest they invest the rest of their capital to provide the best return?

Where there is a limited investment horizon, with the money being required for a specific purpose at a future date, then cash deposits really are the only solution.

It is possible to get a bit more interest by shopping around for the best rates. Phone and internet accounts tend to offer higher rates because these accounts are cheaper to operate (there are fewer overheads as they do not have the expenses of High Street branches).

Have a look at Birmingham Midshires Telephone Plus Issue 2 (0800 169 1543). This offers a rate of 4.9% and the ability to make six withdrawals per year. The rate includes an introductorydating advices free latin85% so you will have to watch the rate when the bonus ends.

Alternatively, Cheltenham & Gloucester Bonus Tracker (0800 717505) offers 4.7% for 50,000+ (rates vary depending on the amount invested).

Paul Wills would like to know how mortgage lenders can increase their interest rates to a figure which is more than the interest rate of the Bank of England?

If your mortgage rate is variable then the lender themselves has the right to set that rate.

Of course, most lenders move rates only when the Bank of England base rate moves, as to do so in isolation would put them at a competitive disadvantage to other lenders - and would annoy their borrowers!

It is true that that sometimes they will pass on more than the Bank of England rise and often they hide behind the “trying to balance the needs of our savers” line when they do so.

A way of ensuring your rate will not rise or fall at a variance to the Bank of England is to take a tracker mortgage where it is guaranteed to follow and the lenders themselves have no discretion to vary.

John Hanrahan presently trade shares online but can’t find a broker who deals in share options. Do you know where he can find more information on this?

There are several ways to do it.

You can do it options trading directly through firms such as ODL Securities or Man Direct, or you can spread bet on the options prices through firms like City Index and IG Index.

I prefer American brokers because they are often cheaper and you get a far bigger choice than you do in the UK.

Rates correct at 30 July 2004.

Read source of it on the News - Open to question site

Opposition leader Lien Chan is demanding a recount, as well as an inquiry into the election-eve shooting of President Chen Shui-bian.

The president was re-elected by fewer than 30,000 votes, prompting critics to say he had won a sympathy vote.

The lawsuit questions Mr Chen’s victory, citing poll irregularities.

It also asks the court to look into Mr Chen’s shooting and to rule on whether a decision to activate the national security mechanism had affected the
election outcome.

POLL RESULTS Chen Shui-bian: 6,471,970 (50.11%) Lien Chan: 6,442,452 (49.89%) 337,297 invalid ballots Turnout: 80.28% Source: Central Election Commission Long-term damage Q&A: Election Dating advices single woman

Mr Lien, of the Lil wayne dating advices Kuomintang (KMT) party, says about 200,000 soldiers and police were unable to vote because of the security alert. But Mr Chen says the move did not lead to any increase in military deployment.

The opposition plans to file another lawsuit later in the week, seeking to nullify the election.

Mr Chen has said he would ask the courts to order an immediate recount once the opposition had filed a legal petition.

Earlier on Monday, top officials from the two political parties met to try to resolve the political crisis, but failed to set a date for a face to face meeting between the president and his political rivals.

Mr Lien had filed a court challenge to the 20 March election within hours of the result.

But the bid was stalled pending the official confirmation of the result, which came last Friday.

Forensic investigation

The BBC’s Caroline Gluck in Taipei says the dominican women dating experts tactics seem to be to keep up the pressure on the president with new attempts to get the election result jewish new york dating advices in the courts, while at the same time taking part in talks to try to end the dispute.

Lien Chan wants a recount

Meanwhile, three US forensics experts have arrived in Taiwan to help the authorities investigate the shooting, which injured Mr Chen and Vice-President Annette Lu. They spent Monday in the southern city of Tainan, where the shooting took place.

The Taiwan government, keen for the investigation to be seen to be open, has said a famous Taiwanese-American forensic expert, Henry Lee, would also be helping.

Mr Lee, who played a prominent role in the OJ Simpson case in the US, is due to arrive in Taiwan next month.

Taiwan’s central election commission has said a recount could be completed within two days if it was carried out by counting stations throughout the island.

It would take longer if it was older men dating advices in the capital Taipei.

Source: News - Taiwan poll dispute goes to court