A new house price study indicates that one in ten districts across the UK may now exceed the inheritance tax threshold, in news that could be of interest to people looking to find a remortgage deal.
Research from banking institution Halifax has discovered that the average house price in 236 of the 2,098 postcode areas across England and Wales is now above the tax threshold of £285,000.
To put the figure into context, this is approximately double the 117 postcode districts that qualified for inheritance tax five years ago.
Tim Crawford, group economist at Halifax, commented on findings that may be of concern to many mortgage holders.
"House prices continue to increase more quickly than the inheritance tax threshold," he said.
"There are 2.3 million properties in the UK valued at more than the inheritance tax threshold."
Following the research, Mr Crawford has called upon the government to increase the threshold to £460,000.
Some people may be looking to search for a remortgage deal in order to put more money into investment vehicles that minimise inheritance tax liability.
Halifax warns mortgage holders that tenth of UK now exceeds tax threshold
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Halifax warns mortgage holders that tenth of UK now exceeds tax threshold
Mon, 26 Feb 2007
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