Paytons solicitors

Help to Buy ISA’s are designed to help you buy your own home, by adding 25 per cent to your savings. You can save up to £200 per month into your Help to Buy ISA. To kickstart your account, in your first month you can deposit a lump sum of up to £1,200. 

The minimum government bonus is £400, meaning that you need to have saved at least £1,600 into your Help to Buy ISA before you can claim your bonus. The maximum government bonus you can receive is £3000 – for which you need to have saved £12,000. 

Two people buying property together can each have an account, meaning that their maximum bonus is £6000. The bonus is only available for home purchases up to £450,000 in London and £250,000 outside London.

The scheme closes for new applications on 30th October 2019 – be sure to open your account before then.

September 22nd, 2019

Posted In: Blog

“Capacity”, which is really shorthand for “mental capacity”, is lawyer’s jargon for the ability to make decisions.

We aren’t talking here about being indecisive, but whether an individual has got the level of understanding that is legally required to make decisions for themselves.

Sometimes it’s easy to recognise – the patient in a coma in hospital is clearly not able to make decisions.

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April 14th, 2019

Posted In: Blog

After someone has died, executors often start by looking on the internet for information on how to obtain probate and administer an estate themselves. But is this really a good idea?

Until 2007, when the first of a married couple died, they had to use their inheritance tax-free allowance (currently £325,000), known as a nil rate band (“NRB”) at the time of that first death – or lose the allowance altogether. Therefore wills usually included a trust, known as a “nil rate band discretionary will trust”.

In 2007 the inheritance tax rules changed

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April 8th, 2019

Posted In: Blog

For people who are lucky enough to be property owners, the idea of “deeds” is deep-rooted. I’ve lost count of the number of people who have talked to me about “getting their deeds” back when they finally pay their mortgage off, or have spoken about whose names are “on the deeds”.

Yet for most property owners, there is no such things as deeds any more.

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March 9th, 2019

Posted In: Blog