A friend lent me a mortgage deposit – how much do I owe him now?

He gave me £10,000 towards the £250,000 property in 2006, but it’s now worth £450,000

Q In 2006 I bought a house for £250,000 with an interest-only mortgage. I have made occasional overpayments so the outstanding loan is £200,000 (still interest-only). The value of the house is now £450,000. A friend paid the cash deposit of £10,000 as an investment when I bought the house. He has lived in the house since then and has been paying me £330 a month in rent. He now wants the money he invested back plus any gain he has made from the house going up in value. How do I work out what I owe him? I am not intending to sell the house.
MC

A When you friend invested £10,000 in your house back in 2006, his contribution to the purchase was 4% of the purchase price (10,000 divided by 250,000 times 100). So to work out what you owe him, you simply take 4% of its current value of £450,000 which means paying him £18,000. To be scrupulously fair to your friend, you might want to get an estate agent of his choice to value the property to ensure that he agrees what the house is worth and so what he can expect to get back.

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House prices could nosedive after no-deal Brexit, says KPMG

Analysis by accountancy firm suggests nationwide decline of about 6% in 2020

UK house prices could crash by as much as a fifth if Boris Johnson pursues a no-deal Brexit, and the biggest falls would be in London and Northern Ireland, a leading accountancy firm has said.

Reflecting the potentially vulnerable state of the property market as Brexit looms, KPMG said house prices would fall by between 5.4% and 7.5% across different regions next year if a new agreement with Brussels was not in place by 31 October.

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Bag a begonia

Begonias are a bargain if you grow them yourself

As regular readers will know, I have become a bit of a begonia obsessive. And with all sorts of new species being introduced from the jungles of Asia, it seems after years in the doldrums these exotic houseplants are finally experiencing a much-deserved renaissance. In fact, rarer specimens now frequently exchange hands online for almost £100, which continually surprises me considering how easy it is to clone these plants for free.

While there are loads of different propagation methods for begonias, many are only suitable for very specific varieties, which can make the whole process confusing for non-geeks. However, there is one that in my experience works for any variety going and, as luck would have it, is also by far the simplest. If you fancy trying your hand at cloning your own begonias, now is a good time of year to do it and all you really need is a glass of water.

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Bag a begonia

Begonias are a bargain if you grow them yourself

As regular readers will know, I have become a bit of a begonia obsessive. And with all sorts of new species being introduced from the jungles of Asia, it seems after years in the doldrums these exotic houseplants are finally experiencing a much-deserved renaissance. In fact, rarer specimens now frequently exchange hands online for almost £100, which continually surprises me considering how easy it is to clone these plants for free.

While there are loads of different propagation methods for begonias, many are only suitable for very specific varieties, which can make the whole process confusing for non-geeks. However, there is one that in my experience works for any variety going and, as luck would have it, is also by far the simplest. If you fancy trying your hand at cloning your own begonias, now is a good time of year to do it and all you really need is a glass of water.

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Are 15-year fixed-rate mortgages a price worth paying for security?

They last appeared during the financial crisis and as turbulence again looms, they’re back

With the value of sterling a fraction of what it was three years ago, the threat of post-Brexit food shortages and the prospect of a recession looming, British households could be forgiven for seeking some sense of calm and consistency in their finances.

For many, that may come in the form of knowing how much they will have to pay to keep a roof over their head, no matter what happens to interest rates in any future turbulence.

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To buy or not to buy a not-so-perfect home? Nottingham Estate Agents

Knowing when to walk away from your dream home because of unforeseen problems is a tough and emotional decision. But do you always have to call the deal off? It’s the news that neither vendor nor buyer wants to hear. The property that’s up for sale has a defect. But does that automatically mean the […]

The post To buy or not to buy a not-so-perfect home? appeared first on OnTheMarket.com blog.

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Autumn begins today but there’s still time to sow | Allan Jenkins

As a gardener’s work slows, plant a few autumn leaves and herbs

1 September. The start of meteorological autumn. Another two hours of daylight lost in the next few weeks. Gardeners have seen it for some time. Seeds that raced to leaf and flower just weeks ago are sluggish now. All has noticeably slowed. Still time, though, to sow the last of the autumn leaves, mustards and mizunas, komatsuna, and spinach for spring. To sow, too, hardy lettuces, radishes, rocket, land cress. Plant garlic and autumn onion sets – we will, after some resistance, for want of watching something slowly grow. But first wait for the coming cooler weather. Even with an Indian summer, frost is possible sometime this month especially outside the south.

So tidy and weed, take care of the compost and fork it over, water it if it’s dry. Harvest the last of the potatoes. Untie lingering tomato plants, remove lower leaves and lay flat. You may soon need to strip the last green toms to colour them on a windowsill, bag them with a banana.

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