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
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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 · 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.
House prices expected to rise £84k by 2029: Savills
Nov 6, 2024 · Average house prices in the UK are expected to increase by £84,000 over the next five years. This is according to the latest house price forecast from Savills. With inflation returning to the 2% target and the prospect that interest rates will continue to fall over the next two years, the national estate agent
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
Five-year fixes see biggest monthly rise since August 23: Moneyfacts
Dec 9, 2024 · The average five-year fixed rate in November had the biggest monthly increase since August 2023, as lenders repriced products due to volatile swap rates, Moneyfacts data reveals. Average mortgage rates overall on five-year fixed rates increased by 0.19% to 5.28% at the start of December. Meanwhile, the average
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
Santander outlines raft of rate changes across range
Nov 11, 2024 · Santander has confirmed that from 12 November it is increasing most of its residential and Buy to Let (BTL) fixed rates across the new business and product transfer ranges by up to 0.31%. The pay rates on all its new business and product transfer tracker rates are decreasing by 0.25% to reflect the recent Bank of
Investec unveils 60% LTV BTL option for high net worth
Dec 9, 2024 · Investec Bank has introduced a new 60% LTV buy-to-let (BTL) mortgage offering aimed at high-net-worth individuals. This follows the launch of a new 60% LTV residential mortgage product in September, along with reductions of up to 0.62%. An example of rates across the 60% BTL range include a two-year fixed at 4.87%