Mortgage strategy: UK latest mortgage news
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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.
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
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
Virgin announces new products and rate cuts across range
Oct 8, 2024 · Virgin Money has confirmed a number of exclusive buy-to-let deals available from 9 October. Exclusive BTL options include a new 6 0% LTV two-year fixed rate with £2,195 fee, at 4.19%; a new 75% LTV two year fixed rate with £2,195 fee, at 4.39%; a 75% LTV five-year fixed rate with 3% fee will be reduced by 0.05%, to 3.78% and a 75% LTV two-year fixed rate with 1% fee will be reduced by 0.06% ...
Virgin and Clydesdale cut SVR, but some fixes jump 30bps
Nov 20, 2024 · Virgin Money and Clydesdale Bank are reducing their standard variable rates following last week’s Bank of England base rate cut, while increasing some fixed rates by up to 30 basis points. Clydesdale’s fixed rate increases come into force on Friday, with the biggest rises for buy-to-let borrowers. Some core
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
Accord lowers BTL rates by up to 0.15% – Mortgage Strategy
Aug 7, 2024 · Accord Mortgages has lowered rates on its buy-to-let (BTL) product range for a second time this week. Reductions, which are effective tomorrow, have been made by up to 0.15% across all loan-to-values (LTVs) up to 75%. The latest changes include two-year fixes reducing by 0.15%, with reductions of up to 0.10% on three
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
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