In a meeting with some of the UK’s biggest mortgage lenders today Chancellor Kwasi Kwarteng pledged to work closely with the financial sector to provide the best value on mortgage rates as they continue to rise following his ‘fiscal event’. Over the past 24 hours the average 2 & 5 year fixed rate mortgages breached […]
Chancellor Pledges To Work Closely With Financial Sector On Mortgage Rates Read More »
Yesterday was an day like no other with the vast majority of mortgage lenders withdrawing products because of the increasing cost of money on the money markets (swap rates) following the Chancellors mini-budget last week in which he cut taxes and stamp duty. The negative effects of the mini budge are being met with a
Lenders Withdraw Products & Further Interest Rate Rises Predicted Read More »
The price of property coming to the market has fallen for the first time this year, down 1.3% in the month to £365,173 (-£4,795) in August, according to Rightmove. However, the property portal said the fall was likely more due to holidays than mortgage and interest rate rises as prices usually drop in August, and
House Prices Fall For First Time In 2022 – Rightmove Read More »
Chancellor Kwasi Kwarteng cuts Stamp Duty in today’s mini-budget. Under the current system Stamp Duty is NOT paid on the first £125,000 of any property purchase but that figure has been increased to £250,000. The stamp duty threshold for first-time buyers has been increased from £300,000 to £425,000.
Stamp Duty Cuts Announced Read More »
The Bank Of England (BOE) have today increased the Base Rate by 0.5% to 2.25%
BOE Increase Rates By 0.5% Read More »
Lenders start to increase lending with 90% products launched this week.
90% Lending Returns Read More »
