Charles de Lastic

Registered with Property118.com
Tuesday 26th April 2016

Trading Status
Company

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 24

Charles de Lastic

11:22 AM, 31st July 2020
About 4 months ago

Gifting his own residential property to his son via his brother?

I am a specialist inheritance tax adviser.
I cannot see any issues unless the brother dies so would there be an IHT problem and has the will been adjusted accordingly. Also if he dies even though it would be the brother's main residence the Residential Nil Rate band would be lost as the house would not be going to his children but to his nephew.
Obviously the person making the gift has also made a potentially exempt transfer and so if he does not live 7 years there may also be an IHT issue as the gift would fall back into the estate.
It would be sensible to determine the IHT issues around this for all parties... Read More

Charles de Lastic

9:49 AM, 21st May 2020
About 7 months ago

How to avoid Inheritance Tax (For Landlords)

I have been an IHT specialist for 16 years. Although I fully respect what Mark had to say the contents of this video are very simplistic. There is more than one type of Whole of life insurance and just using insurance is usually the most expensive way of solving the IHT problem. Also many older people have health issues which makes insurance much more expensive. A mix of different trusts, using two different types of life insurance and for people with assets of over £2 million using Family investment companies normally provides a much more flexible and lower cost solution - Good advice is essential and most IFAs do not have enough experience in this area.... Read More

Charles de Lastic

9:27 AM, 21st May 2020
About 7 months ago

Company guaranteed rent set-up?

I own and run a portfolio of 19 properties and some serviced accommodation for more than 15 years. @Darlington Landlord is correct. The tax is now a big issue for many people. You need to get advice and get the calculations done in advance to check if you should buy any property as an individual or as a limited company. Talk to other landlords and get a good idea of what you need to do. Property investment is not a passive income it requires work to make the best of it. I also belive that in the next year we will see a significant drop in property values and so you may be better off waiting and do your homework in depth while you wait.... Read More

Charles de Lastic

18:18 PM, 2nd August 2019
About A year ago

Should I sell or take a Lifetime BTL mortgage ?

I deal with a number of these kind of cases in my work. Yes the previous posts are correct in that Equity release is a complex product and you have to be careful to get the right product.
In the end the outstanding debt rolling up against the property is not a huge issue as you do not have any children to leave assets to so why struggle through your life? - as long as you ensure you have a no negative equity guarantee ( they cant kick you out if the house is worth less than the outstanding debt which I believe is on all equity plans these days but make sure). Also an equity release will mean neither you or your elderly mother will not have to move home.
Care - If the compound interest charges grows beyond the amount where you have a good amount of equity in the property it is possible you may find it difficult to move in the future
Lastly interest rates are low historically.
My advice see a couple of fee based financial planners and decide once quoted.
Talk to a number of advisers and find one who will charge a fee rather than take a commission. Ideally they refund back the commission to you as it no doubt be larger than the fee.... Read More

Charles de Lastic

8:10 AM, 29th September 2018
About 2 years ago