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Can't afford a home in Bermuda? Missed out in the recent Southside lottery? Then perhaps you might consider joining the Bermudian man who has entered another housing lottery - this one for a £270,000 house in Peterborough, England.
Come on, the commute's not that bad...
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I'm not a UK tax expert at all...but has this Bermudian looked into the estate/inheritance tax issues with respect to holding UK property personally should he win?
:)
Posted by ace on 15.06.05 at 14:28
Ace - you're a spoil sport!!
It's bad enough living in Peterborough for good ness sake.
Posted by Smiths on 15.06.05 at 14:36
Nice enough shack. Price is ok, but you have to live in the U.K. Who in their right mind would want that! There si a reason housing costs so much here, you get to live in a great country.
Posted by Intrigued on 15.06.05 at 16:32
I don't know...
I might like a few flats in London. The pound being what it is, it may turn into quite the currency hedge...
Posted by jake on 15.06.05 at 16:35
This is a 25 quid lotto ticket for a 1 in 20,000 chance of winning a house worth 10,800 times your ticket cost. If you like the odds, go for it. If you win, flog the house.
I guess it's legal. The seller gets 500,000 for a house that's only worth 270,000.
I recall stock traders used to raffle their paychecks in the City but the authorities outlawed it.
Posted by JJ on 15.06.05 at 17:10