The reason why there is no rush to repay is the inheritance tax

The implementation of inheritance tax in the UK has a history of more than 100 years. The inheritance tax collection rate is currently 40, and personal income tax has been levied. The point is 325,000 yuan. In fact, the portion of the property exceeding these amounts is subject to 40% tax. At present, the price of houses in the UK is so high, especially in London and surrounding areas, there are very few houses under 500,000 yuan, so most people cannot escape inheritance tax.

Think about it, everyone is anxious to repay the loan, but the government department wants to take away so much tax. I think the best way is not to leave too much property to our children that exceeds the threshold for inheritance tax and individual tax. Our lives are earned by ourselves, so they can do that. Therefore, you are not in a hurry to repay the loan, and you can do a lot of things with spare money. The reason why I am not in a hurry to repay is the British pension system

I have also worked in the British medical industry for many years and have a certain understanding of British hospitals and nursing homes. The British elderly care regulations are indeed unscientific. They require the elderly with a certain amount of funds to pay for medical care or nursing home expenses themselves, while the elderly without savings must be paid by the government department. As a result, the elderly who have worked hard all their lives to pay off their mortgages are forced to sell their real estate to pay for nursing home expenses. Instead, these people who owe a lot of debt enjoy free nursing care services.

Elderly persons who require special care, such as those with Alzheimer's disease, who live in unique nursing homes will have to pay higher costs. In London, the average cost of nursing homes is about 44,600 yuan per year, and more and more British elderly people are forced to sell their properties to pay for nursing home expenses. So don't be in a hurry to repay the loan. After you pay it off, the government is waiting to sell your house and pay you pension. British Prices

The United Kingdom is divided into England, Scotland and Wales. Broadly speaking, prices in England are generally higher than in Scotland and Wales. There are also certain differences in prices and spending power across the country in England. Prices in London, the capital of the UK, and the Greater London area are the highest in the UK, followed by prices in York, Southampton and Nottingham. Prices in cities such as Birmingham, Manchester, Liverpool, Leicester, and Brighton in the United Kingdom are in the third echelon of England. Prices in Newcastle, Sunderland, Norwich, Bournemouth, and Cardiff are relatively low in England