It seems that thousands of homeowners may soon be liable for unrestricted costs of repairs to their local churches. If your house, patio, garden or garage has been built on former church land, it seems that you may one day receive the thud of an envelope on your hall floor, demanding a contribution towards the cost of repairing your local church roof, steeple or whatever. There is currently a test case due to be heard in the High Court on February 5th - not April 1st! – when a Mr and Mrs Wallbank will discover whether or not they must pay £500,000.

I wonder how thoroughly the Wallbanks' solicitors did their local searches when they originally bought? Will they sue their conveyancer if they lose the High Court case?

As always, the only people to gain from all this will be the lawyers, one presumes! Though in this case there will no doubt be some losing lawyers as well.

What goes around comes around...

I read a brief article this month which claimed that the "sleek minimalist look" of magnolia and white walls and paintwork with wooden floors and blinds rather than curtains was all becoming a thing of the past. Homeowners now prefer soft furnishings, curtains and carpets in an attempt to recreate a cosier, more homely feel.

Has anyone had the courtesy to tell Sarah Beeny or Anne Maurice?

The article, not surprisingly, was written by the Director of a soft furnishings company!

A recent survey by the Local Government Association has found that the 2007/8 Council Tax rise will be less than the latest Retail Price Index of 4.4%. Yes but that's the RPI: I thought we were now using the CPI (Consumer Prices Index) measure of inflation which stands at 3.0%.

And the survey also found that many councils are planning a 4.9% increase – a fraction below the level at which they risk capping by the government. Not surprisingly, these levels of increase "will mean dramatic cuts in the levels of service, particularly to the elderly and those in need of care."

As an afterthought, they will also increase inflation and therefore interest rates.

Last month we wrote:

January 1st 2007 sees the introduction of Real Estate Investment Trusts (REITs). Very little usable information has been issued so far. As soon as we hear anything we will let you know, in case it's of any interest.

Nothing yet...

www.viceroyinvest.com

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