Budget 2024: OBR lifts forecast for mortgage rates and house prices
Oct 30, 2024 · The Office for Budget Responsibility has increased forecasts for both house prices and future mortgage rates compared to its March predictions. In its latest Economic and Fiscal Outlook, published today, the independent body says it expects average interest rates on outstanding mortgages to rise from around 3.7 per
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Budget 2024: Stamp duty on second homes rises to 5%
Oct 30, 2024 · Chancellor Rachel Reeves has increased the stamp duty surcharge on second homes and investment properties from 3% to 5%, effective from tomorrow. Announced in today’s Autumn Budget, Reeves stated: "In our manifesto we committed to reforming stamp duty land tax to raise revenue while supporting those buying their
Historical interest rates in the UK, 1979-2017: rise and fall
Mar 29, 2018 · Black Wednesday September 1992 The UK’s withdrawal from the European Exchange Rate Mechanism on 16 September 1992 meant a rise in the base interest rate from 10 per cent to 12 per cent at 10.30am on that day; later that day there was a promise from John Major’s government to raise the rate further to 15 per cent.
Santander delays resi affordability rate cuts – Mortgage Strategy
Dec 4, 2024 · Santander has delayed residential affordability rate cuts that were due to appear on its online calculator for brokers. The high street bank said on Tuesday that it would reduce its residential affordability rates and that intermediaries would be able to use its “affordability calculator on our website to find out what your clients could borrow” today (4 December).
Halifax introduces further advance affordability calculator
Oct 8, 2024 · Halifax has launched a further advance affordability calculator. The move comes after the lender streamlined further advance applications on its broker hub last month. It says the feature comes as a new option on its existing mortgage affordability calculator, which allows intermediaries to “quickly check the maximum
Budget 2024: Property exempted from Reeves CGT hike
Oct 30, 2024 · The Chancellor Rachel Reeves announced to the Commons in her Budget speech that capital gains tax (CGT) will increase. Reeves confirmed to the House that the lower rate of CGT would rise from 10% to 18%, and the higher rate from 20% to 24%. Capital gains tax is charged on profits which are made from selling
The Mortgage Lender expands limited edition BTL product range
Dec 3, 2024 · The Mortgage Lender has added fixed rate products to its buy-to-let (BTL) range. The expansion includes two new two-year fixed rate 75% loan-to-value (LTV) products in the standard range, with 3.00% and 5.00% completion fees. These products will have rates of 3.94% and 4.94%, respectively. The lender has also added a
Santander reduces fixed rates by up to 0.29% – Mortgage Strategy
Oct 3, 2024 · Santander has announced it will cut selected standard residential and all buy-to-let (BTL) fixed rates in its new business and product transfer ranges. For new business, the lender has selected standard residential fixed rates for purchases and remortgages, including green remortgage to be reduced by up to 0.29% All
Halifax Intermediaries cuts rates by up to 33bps
Jul 31, 2024 · Halifax Intermediaries has made rate reductions across various product ranges by up to 33 basis points, effective 1 August. Remortgage products will see complete by and end dates extended as well as lowered rates. The 80% loan-to-value (LTV) five-year fixed rate has been reduced from 5.25% to 4.93% while the 80% LTV