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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
Historical interest rates in the UK, 1979-2017: rise and fall
Mar 29, 2018 · A timeline of key events and data relating to historical interest rates in the UK, 1979-2017. Historical antecedents Interest rates were very stable in the UK during the 18th century, staying put at between 4 and 5 per cent. Moving into the 19th century, there was more volatility, with interest rates shifting between 4 and 10 per cent. The first half of the 20th century was a similar picture ...
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 first home.” “This will support over 130,000 additional transactions from ...
TMW announces rate changes across range - Mortgage Strategy
Nov 20, 2024 · The Mortgage Works has confirmed changes to selected rates across its New Business and Existing Customer Switchers product ranges. From 21 November for New Business there are a combination of rate increases and rate cuts. These include: TMW’s buy to let two year fixed 65% LTV with no application fee has increased to 4.79%. The lender’s Limited Company two-year fixed buy to let 75% LTV with ...
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
Blog: How changes to Stamp Duty could impact mortgage market …
Dec 23, 2024 · According to our calculations, after April, buyers will have to pay stamp duty on 93% of properties on the market in England under new rules. There are regional variations in this data; for example, in Yorkshire, buyers will pay stamp duty on 49% of houses currently on the market. However, once the anticipated changes come into force, this will increase to 86%. On top of this, the changes will ...
Fresh start for brokers and borrowers in 2025: Moloney
Nov 29, 2024 · Next year will provide “new opportunities and a fresh start for both brokers and borrowers”, says OSB Group group intermediary director Adrian Moloney. In the group’s latest report, Moloney discusses what he expects to see in the first three months of 2025. Themes include an uptick in rate rolls, a first-time buyer (FTB) boom and rising demand for expert guidance. The report highlights ...
Barclays outline rate increases across range - Mortgage Strategy
Nov 13, 2024 · Barclays is the latest major lender to confirm rate increases across its mortgage product range. Changes which come into effect from 14 November include, on residential purchase only, the 3.96% Premier two year fixed £899 product fee, 60% LTV, Min loan £5k, Max loan £2m, increasing to 4.30% The 4.12% five-year fixed £0 product fee, 60% LTV, Min loan £5k, max loan £2m, will increase to 4. ...
Resi mortgage values up in Q3 but new mortgage commitments …
Dec 10, 2024 · The outstanding value of all residential mortgage loans increased by 0.6% from the previous quarter to £1,670.9bn, the highest stock of outstanding mortgage loans since 2023 Q1, and was 0.8% higher than a year earlier. This is according to the Bank of England’s Mortgage Lenders and Administrators Statistics for Q3,