Property in cities across the UK is currently more affordable than it has been at any time over the last ten years, according to new research. The Affordable Cities Review, commissioned by Lloyds TSB, discovered that the average price for a city home is now 5.5 times gross annual average earnings.
While this figure still seems high, it is the lowest ratio it has been since 2003. One year ago, it was 5.7 times gross annual average earnings, and a long way from a peak of 7.2 before the recession in 2008.
Over the last four years, the average city house price has dropped by 18 per cent, from £210,605 to the current total £173,202 in 2012. H
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GEICO is offering new, lower commercial auto rates in Maryland after implementing a new rating structure in the state implemented last year.
The Fredericksburg, Va.-based insurer said it hopes to boost its market share in the state, where it says it already says it insures the most personal autos.
John Izzo, regional vice president of GEICOs Mid-Atlantic operations, said the new rate structure led to significantly lower premium rates for most risks.”
Commercial insurance packages cover the cars, trucks and vans used by small businesses such as contractors, retailers, caterers, professional services and others. I
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State officials are reminding homeowners to review their insurance policies to see if they have earthquake insurance ahead of a new law that will require better disclosure if policies exclude such coverage.
The State Corporation Commissions Bureau of Insurance says damage from earthquakes is excluded under homeowners policies unless the coverage is purchased as an addition to the policy.
A law recently passed by the General Assembly requires companies that exclude coverage for earthquakes to provide a written notice that conspicuously states that it must be purchased separately. It will apply to policies renewed or issued after Jan.
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The National Landlords Association (NLA) has claimed that the Budget did not go far enough this month, though it is looking to improve its communications with the current government and ensure that more changes are added to the list to benefit those paying landlord insurance up and down the UK.
According to the NLA’s chairman David Salusbury, there has been “no recognition” of a number of barriers to investment that the current system of property taxation has in place – notably Stamp Duty, which has recently been lowered back to £125,000 from its temporary £250,000 threshold.
He said: “While the NLA believes the government is justified in closing the Stamp Duty loophole to prevent tax avoidance, the Treasury should not ignore the impact these measures will have on legitimate companies which buy property to let as their primary business activity.
“This is likely to adversely influence investment decisions made by landlords who operate as small businesses and provide much needed housing.”
NLA agents will look to set down formal discussions with the Treasury and establish whether or not it’s possible to separate genuine property businesses from companies looking to avoid tax, with Mr Salusbury claiming that calls for a comprehensive review of Stamp Duty were ignored. “
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Do you worry about your belongings all the time? This is something that a lot of people do when living in Akron and the reason is because of the frequent weather change and also the types of properties in the city. What a lot of people don’t realize is that not all apartment buildings are up to code and because of this some homes are not as safe and secure as other ones. Trust me on this one, Akron has some great homes but sometimes you need to think of other ways to protect your belongings.
Something that I would recommend doing in order to protect your belongings is to simply get renters insurance. The nice thing about renters insurance is that you can get it for a great rate and your age doesn’t play a big factor in the price. If Read more…
The Hartford is giving up on individual annuities, saying it will run-off its individual annuity business and either sell or seek other alternatives for its individual life, financial services and retirement plan segments.
Hedge fund manager John Paulson, whose company, Paulson & Co. owns 8.4% of The Hartford, called for the company to split Feb. 8
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