Stamp Duty Not good for Landlords

stamp duty increase

Increases to Stamp Duty on second homes and buy-to-let properties effective from April next year could cause conveyancing ‘mayhem’, a conveyancing distributor has warned. Broker Conveyancing has anticipated a significant amount of pressure placed on conveyancing firms to avoid the 3% increase in Stamp Duty for completed purchases made on or before 31 March 2016. The Chancellor caused an outcry among the buy-to-let industry when he announced during his Autumn Statement last week that second homes, which include read more

Should you fixed before the end of the year ????

Mortgage lenders are being forced to pay more for the money that they pass on to borrowers, leading to speculation that fixed mortgage rates are about to rise. The cost of two, three, five and 10-year money fell in October, but has risen sharply over the past couple of weeks. Historically, when the cost of this funding, known as swap rates, rises lenders push up their mortgage rates to cover their increased costs. But other factors may come into play that encourage lenders to shoulder the increase and keep their read more

NATWEST to change the rules again of mortgages

Natwest Sign

NatWest Intermediary Solutions will be implementing the requirements of the European Mortgage Credit Directive from mid-January 2016, two months ahead of the 21 March deadline. It will begin using the new ESIS documentation, to be known in the UK as the Mortgage Illustration, from mid-January 2016, replacing the current KFI to help minimise any pipeline impacts. NatWest will be calculating the new Annual Percentage Rate of Charge and 2nd APRC in accordance with the guidance received from the Council of Mortgage read more

Ageism for older borrowers now being addressed

Andy Chalmers

Building societies have promised to review their maximum lending ages for mortgage borrowers, as increasing numbers of older home owners are trapped in their homes or on very high rates. Since new lending rules were introduced last April, Britain’s mortgage lenders have made it very difficult for older borrowers to secure a loan even when their incomes are secure and they have large deposits or equity. And it’s not just those in their late 50s or early 60s who are struggling – borrowers in their late 40s with good read more

Bank of England NOT to raise rates until Summer 2017

Since the Bank of England's last Inflation Report in August, the path for Bank Rate implied by market rates has fallen by around 40 basis points, such that it only reaches 0.75% in 2017 Q2, compared with 2016 Q3 in August, and is just 1¼ by the end of 2018. The Bank of England admitted that it now seems more likely than not that inflation will remain below 1% until the second half of 2016, much later than judged likely when inflation first fell below 1% at the start of 2015. Recent falls in oil and other commodity read more