Angela Rayner May Have to Sell £800,000 Seaside Flat After Losing Job
Angela Rayner could struggle to afford the mortgage on the £800,000 seaside property at the centre of her downfall and may lose it after having her salary slashed following her resignation from Government office. The Telegraph has the story.
Ms Rayner also faces a hefty tax bill and possible ‘carelessness’ penalty of more than £50,000 for failing to pay the correct stamp duty on the purchase of a flat that sparked her downfall.
In a further blow, Tories demanded she be stripped of her £16,876 severance payment owing to loss of office because in opposition she had voted to stop ministers under investigation getting a pay-off.
“If she has any integrity then surely she must decline any severance payment,” said Kevin Hollinrake, the Tory party Chairman.
Ms Rayner’s salary will be cut from £161,409 to £93,904 – a drop of £67,505 – giving her little margin for error in making her monthly mortgage repayments.
Earlier this week, she admitted she had used her life savings to put a deposit down on the flat. She sold her 25% stake in the family home in Ashton-under-Lyne in Great Manchester for £162,500 and used that to put down a £150,000 deposit on the Hove property.
Official documents show she has a £650,000 mortgage on the seaside flat through NatWest.
The scale of the loan will have left her with mortgage repayments as high as £4,000 a month while her salary against an income of £5,400 a month after tax. As deputy prime minister she was taking home £8,100.
Following her resignation, she will have just £1,400 a month left over with two teenage children to look after, covering food and clothing bills, gas and electricity, holidays and sundry other costs.
She also has a £40,000 tax bill to pay as well as a likely penalty of £12,000 plus interest on top of about £1,000 – a total bill of £53,000.
HMRC will have to decide if she should pay the excess for ‘carelessness’ in punishment for originally paying just £30,000 in stamp duty rather than £70,000 on the Hove flat.
Ms Rayner was found to have broken the ministerial code in failing to seek proper tax advice when buying the Hove flat, and HMRC will note in determining if she should pay the penalty.
Ms Rayner, 45, a mother-of-three, has also been stripped of her grace-and-favour flat in Admiralty House. She could rent a flat in London paid for through an MPs’ expenses but that will leave her with the Hove apartment to pay for, including expensive train fares to and from the capital.
Worth reading in full.
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Starmer will have her resign as MP and put her in the Lords. She will get the big severance from the HoP and Ally will bung her a few bob as well Mandelson survived the same thing and is still floating around like a turd that wont flush.
I always got the impression that Mandelson is good at toadying and schmoozing though – something that would have helped him as he left a slime trail through British politics. I can’t imagine that those skills are in Angela Rayner’s repertoire.
Yes, Peter Mandelson, the necromincer in cheif. I had almost forgotten about all his slippery dealings.
That might be a longer-term plan, but he’s certainly not going to risk a high profile by-election (which would also remind the voters why she was forced to resign) with his party trailing so badly in the polls.
At least though the voters would get someone who actually lives in the constituency. Unless Raynor moves back there – now that would be funny and she’d be closer to those children she’s so fond of……..
And if he did, Reform would only have to put Lucy Connolly in to bat, and it’s game over …..
Starmer can’t move without Reform heading him off, his ONLY chess piece left is Mad Miliband
This is not going to take long now…
It looks as if the globalists plan is coming along nicely.
al-Farage to be the next PM. That’s a toughy with digital ID and CBDC’s on the ‘to do’ list.
Oh yes thats a good thought, its exactly what he will do.
How very very distressing (not).
There’s not a chance she can afford that flat now with her available income. After insurance, utility bills, council taxes, travel to her ‘main residence’ and this flat, food etc etc. The £40k+ stamp duty and fine probably isn’t easily to hand either.
Why would a lender offer her a huge loan when her time as a Minister was always going to be short and her time as an MP not much longer? No high street lender would allow this with ordinary members of the public. If she does keep it, then there is another story to be told.
Further to the appointment of David Lammy as Deputy PM, the national emergency alarm will sound on Sunday morning
Phone off, SIM out.
Settings – Emergency – switch off alerts
An MP, bad with numbers and stuff. Huh, who would have thought.
She won’t be able to sell it at the same price she bought, thanks to her ididotic Governments war on the home owner with Stamp duty, for doing what exactly? now at mental levels.
She will reap what she has sewn
Poor Ange.
Brilliant!
Stop, stop, I’m welling up here.
I’m laughing so much the tears are running down my legs
Leaks and spin has already deafened the property market. The next two months of it before the budget will kill it and the budget itself will push a dagger through its heart ( mixed metaphor warning.
These circumstances almost certainly mean that AR will lose money on the property when she sells it to live closer to Parliament.
Oh dear, what a shame, how sad.
I wonder if this experience will teach her anything, such as how difficult it is for business people to negotiate the regulations and taxes her lot (and the Tories) have put in their way.
Expect the BBC to offer her a cushy position, also guest appearances in the jungle. Thge media luvvies will come to her rescue.
And she worked so hard to get where she is/was. Worked? What work?
Climbing up the side of the political midden is “work”?
Quite frankly got what she deserves, greed is a terrible afflication, as is envy, and it was surely both that made her decide to “buy” the flat in the first place?, what appals me more about it, is how she drags her children into it, if only for sympathy, she had no morals as a teenager, thats obvious, and she has none now, hope her constituets kick her out.
That’ll teach virtue signalling Nat West a lesson.
Ha ha.
Oh dear, how sad. Never mind
I drove along the seafront on Saturday but could not see Ginge’s pad. I thought she used her son’s NHS payout to fund the flat? Does he have a kidney to spare?