sell

Six-month wait for cash if DIY investors sell property funds

Suspending a fund can protect investors as fund managers are under less pressure to raise cash via a “fire sale”.

The proposed three to six-month notice period would mean they can plan sales and reduce the likelihood of a fund suspending, the FCA said.

The watchdog added that its new rules would also enable funds to be run more efficiently. Managers could invest more rather than holding cash for unanticipated cash calls. Property funds have been known to hold as much as 25pc in cash, causing a serious drag on returns.

Christopher Woolard, of the FCA, said: “Our proposals will

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‘I was excluded from coronavirus support and now I have to sell my home’

People excluded from the Government’s coronavirus support schemes are being forced to sell their properties to raise cash in order to survive financially after being left without income for almost five months.

House buying firms have reported a surge in inquiries from people struggling to make ends meet amid the Covid-19 pandemic. Many are looking to free up cash with quick sales – even if it means they get less than the property is worth.

Mortgage holidays are still in place, with almost two million people taking advantage of payment breaks, but others urgently need cash to see them through.

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should you buy or sell?

However, current shareholders in the former Invesco trust will be paid a 13.6p interim dividend before the trusts are merged to make up for a lower yield this year.

Fees

Investors in the Murray Income trust pay 0.66pc per year, while Perpetual Income and Growth trust investors are charged 0.73pc.

Aberdeen Standard, the asset manager behind Murray Income, has said it will reduce costs in the trust for six months following the merger. Eventually, it is expected to have an annual charge of 0.5pc moving forward.

Any Perpetual Income and Growth trust investors wishing to sell their shares, will be

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‘I moved to care for my ill mother. Do I need to pay capital gains tax when I sell my own home?’

Every week, The Telegraph’s Property Doctors bring expertise on renovations and DIY, interiors, buying and selling, lettings, legal issues and taxes. Send your questions to  [email protected]

Q I have owned and lived in my house from 1998 until November 2016 when my husband I moved into my mother’s house to look after her. Since then, we have rented our home out. We do not own another property.

When my mother dies, we have the option of buying out my siblings for my mother’s house and staying here. But having struggled for 18 years to pay off the mortgage, I want

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