Related provisions for IPRU-INV 5.7.1

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IPRU-INV 5.7.2GRP

IPRU-INV 5.7.1R can be illustrated as follows:

Current market value

£200,000

Net book value

£100,000

Mortgage

£70,000, including £5,000 payable within one year

Qualifying amount is the lowest of:

(a) 85% x £200,000 =

£170,000

(b) 85% x £100,000 =

£85,000

(c) £70,000 - £5,000 =

£65,000

i.e. £65,000